In 2024, the tech behemoth X intends to introduce payment services. Even if this development is already attracting a lot of attention, what’s really fascinating is how it can affect Dogecoin, one of the most well-known cryptocurrencies recognised for its humorous Shiba Inu mascot.
The world’s richest man, Elon Musk, has reaffirmed his plans to turn X (the original name for Twitter) into a full financial platform, saying he wants to do this by the end of 2024. The cryptocurrency world has been abuzz with conjecture as a result of this development, especially Dogecoin supporters who are wondering what this may mean for Dogecoin, the most popular meme cryptocurrency.
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Is there a plan to include Dogecoin into X’s financial framework?
Elon Musk has not yet made clear if he intends to include cryptocurrencies—most notably Dogecoin—into X’s payment system. But if X’s payment service launches at the end of the year, there may be room for such integration given Musk’s well-established fondness for and rumoured investments in the Dogecoin ecosystem.
X’s Payment Services Launch: A Potential Boost for Dogecoin,X’s Payment Services Launch: A Potential Boost for Dogecoin
Elon Musk’s plan to turn X into a financial centre also fits with the conversations he had, as described in his autobiography, with his brother about Dogecoin. The prospect of developing a social media network built on blockchain with a DOGE-based payment mechanism has been brought up by Musk’s brother.
In response to his brother’s suggestion, Musk seemed to like the idea and suggested developing a “blockchain-based social platform that combines both payments and short messaging, akin to Twitter.”
Given his continuous support for free speech, Musk could find appeal in the decentralised nature of a token like DOGE. This might help create a free market with the aid of these cryptocurrency tokens.
A comprehensive financial centre would be incomplete without cryptocurrency.
Musk seems committed to making the X platform everyone’s go-to financial destination. In the most recent all-hands call with staff on October 26, he expressed his desire for X to play a major part in each person’s financial matters, covering all elements of money.
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Given this assertion, the incorporation of a token such as DOGE seems to be a question of when rather than if, particularly in light of the widespread belief that cryptocurrencies will dominate the landscape of money in the future. If cryptocurrency acceptance does happen, it’s unclear whether the meme coin would be the only one included into the platform.
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