Elon Musk's recent Twitter acquisition hints towards considerable changes in the platform's operations. The world's richest man and TESLA CEO hinted towards such changes even before, and with his acquisition, they became more apparent.
Twitter is one of the most preferred social media platforms amongst most investors. The platform receives several posts and opinions on the crypto market, crypto assets, and investments compared to all other social media sites. Some reports claim Twitter has a daily count of 1,20,000 tweets on #Bitcoin. No wonder the overall crypto posts would be way higher.
However, Twitter is also a popular social media platform amongst crypto scammers, and the number of fake news surrounding the market has been rising recently. Elon Musk mentioned the need to curb fake bots and promote free speech to improve the platform's crypto efficiency. With his Twitter acquisition, such developments are evident, along with Twitter incorporating crypto payments and other features.
Elon Musk has been a true proponent of free speech. He once mentioned that he wished his hardest critics were on Twitter, as he believed in free speech. However, Musk also changed his perspectives on free speech and thought it could have an alternative but similar meaning on social media after President Donald Trump. Though Donald Trump's posts on Twitter led the platform to ban his account, he still believes Trump should be allowed on Twitter.
Elon Musk mentioned the ruckus spam bots created on Twitter and his interest in destroying them. In an interview, the CEO said how scam bots reduced the quality of the products and overall Twitter's efficiency. He further claimed that he would authenticate all human profiles if he acquired them. No wonder his distaste for spam bots and dedication to vanishing them can help Twitter become an authentic platform with the recent acquisition.
Elon Musk created a recent poll for making Twitter's algorithm public, and the poll fetched 82% of the users voting in favor. While social media algorithms are generally ambivalent, such a change in Twitter's operations aims to promote transparency. Users can now access the platform's algorithm while posting and reading its codes. However, the meaning of having public access to its algorithm is still quite confusing, and Musk is yet to uncover it.
With Twitter's acquisition, Elon Musk also planned to charge 0.1 Dogecoin for each tweet or retweet. However, such features are yet to become a reality as Musk declared them unfeasible. With greater progress, users can still expect such features to make it to the platform.