What X’s (Twitter) Daring Expansion Could Mean For Dogecoin

What X’s (Twitter) Daring Expansion Could Mean For Dogecoin

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Elon Musk’s X (formerly Twitter) has been going through an interesting phase since the billionaire took over and crypto enthusiasts can’t help but hope that Dogecoin is in the grand plan of things. This is because the social media platform has undergone some daring changes so far, so speculations that Dogecoin could fit into all of this abound.

X Steps Up Its Game With Audio/Video Call Addition

Since its founding in 2006 by Jack Dorsey and three others, the Twitter (as it was known before) platform stuck very close to its original mission of being a micro-blogging site. This meant that the social media giant was not looking toward shiny bells and whistles like audio and video calling features. That is until Elon Musk made good on his promise and bought the site for $44 billion in October 2022.

Musk had gone on to make drastic changes in the company such as cutting the majority of the staff and implementing a paid verification system. The latest in this line of changes is the yet-to-be-release audio and video calling system.

According to an X post made by Musk, the new functionalities are already in the works with support for foremost operating systems. This includes iOS and Android mobile operating systems, as well as support for Mac and PC. Additionally, users would not need a phone number to make these calls, with usernames presumably being enough.

Video & audio calls coming to X:

– Works on iOS, Android, Mac & PC
– No phone number needed
– X is the effective global address book

That set of factors is unique.

— Elon Musk (@elonmusk) August 31, 2023

Musk also explained in a response to another X user that although calls would not be encrypted at first, the development will continue to include the ability to turn encryption on and off when needed.

Not at first, but we will add the ability to turn encryption on or off dynamically.

There is necessarily a slight lag for encryption. Most of the time, encryption isn’t important and quality of call is better.

— Elon Musk (@elonmusk) August 31, 2023

How Does Dogecoin Fit In?

Earlier this week, news broke that X (formerly Twitter) had received a license to offer payment services across multiple US states. The license approval came after over a year of speculation that the social media platform could be moving into the payments space.

This comes after X kickstarted its revenue share system that saw Blue accounts get allocated a portion of ad revenue obtained by the company. Currently, the platform is using Stripe to process payments but rumors are that X could switch to its own payment system soon.

Coming off the back of this is expectations that Musk could decide to integrate Dogecoin to serve as a way for users to receive their revenue share. In such a case, X would be paying out Dogecoin to millions of users worldwide, instancing increasing the exposure of DOGE by over 10x.

Presently, neither Musk nor X has made any indications that the platform would be integrating the meme coin for payments. However, Musk continues to have the Dogecoin symbol in his bio alongside the X symbol to indicate his location. If anything, this shows that the billionaire still strongly stands behind the meme coin which he has called his ‘favorite cryptocurrency’.

Dogecoin (DOGE) price chart from Tradingview.com (X Twitter)

DOGE price sees brief recovery following downturn | Source: DOGEUSDT on Tradingview.com

Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet… Featured image from iStock, chart from TradingView.com

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