Cardano’s Charles Hoskinson Proposes To Build A Decentralized Platform With Elon Musk

Ethereum World News
Ethereum World News April 15, 2022
Updated 2022/04/15 at 1:22 PM
4 Min Read
  • Cardano’s founder Charles Hoskinson proposed a new deal to Elon Musk
  • Hoskinson tweeted that he wants to build a DeFi platform from scratch with Musk in case his Twitter deal goes awry.

Cardano’s founder Charles Hoskinson has proposed a counter deal to Elon Musk, suggesting that if his Twitter buy-out fails, Musk is welcome to collaborate with Hoskinson to build a new decentralized platform from scratch.

On April 13th, Elon Musk filed an SEC filing unveiling his plan to purchase microblogging website Twitter for $41.4 billion.

Cardano’s Founder Wants To Build A DeFi Platform With Elon Musk

Charles Hoskinson, founder of Cardano blockchain and CEO of IOHK extended a counteroffer to Elon Musk, in case his Twitter offer fails to succeed. Hoskinson proposed to build a decentralized platform from scratch, adding that he would be happy to do so in collaboration with Musk.

According to the official SEC filing filed by Tesla Chief Elon Musk, Musk intends to “transform” the social media website Twitter by taking it private. Musk proposed a deal stating that he wishes to purchase additional shares of Twitter for $54.20 which totals up to $41.4 billion.

In addition to this, Musk made his intention known at a TED conference in Vancouver, where he asserted that the platform needs severe transformation in terms of handling controversial content.

“A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter…They (scam bots) make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin.”

Musk had earlier conducted a poll on Twitter underlining the importance of free speech and inquiring his followers whether they think that Twitter adheres to the tenets of free speech and allows users to practice the same. He had also underlined and cautioned his followers to vote carefully as the “consequences of the poll are very important,” hinting at his increasing interest in the social media platform.

Meanwhile, Hoskinson’s tweet concerning building a  decentralized platform with Musk had garnered mixed reviews on the internet.

While the majority of the users have favored the said idea of verified accounts with zero spam, others have stated that Hoskinson should focus on expanding Cardano first before exploring other crypto avenues.

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