Cardano Boss Charles Hoskinson Predicts Elon Musk Will Apply Crypto Payment On Twitter

Charles Hoskinson estimates Twitter will use Dogecoin for payments on the platform. (Photo; Doc. CoinBulteni)

JAKARTA Cardano (ADA) crypto founder Charles Hoskinson predicts the possibility of crypto payments on Twitter's social media platform after being acquired by Elon Musk.

This was conveyed by Hoskinson at the Web Summit Event which took place in Portugal from December 1-4, 2022. Information only, the Web Summit is an annual technology conference held in Lisbon, Portugal. Founded in 2009 byIGandy Cosgrave, David Kelly, and Daire Hickey.

Charles Hoskinson explained that since the Twitter acquisition by Tesla founder Elon Musk has the potential to integrate cryptocurrencies on Twitter. Elon Musk is one of the richest people in the world who has vocal support for Bitcoin and Dogecoin in his tweets.

He speculated that Twitter could integrate with one of Musk's favorite cryptocurrencies, Dogecoin (DOGE). Even so, Hoskinson noted that DOGE technology today cannot be used to spread it to 200 million people, as reported by The Daily Hodl.

Hoskinson said it "would be great" to make Dogecoin a Cardano sidechain or at least build a bridge between the two projects to help DOGE scalability. He also, however, speculated that Binance's $500 million investment in the takeover of Twitter by Musk had something to do with the competition for that role.

"I don't have any information about that, but if I had to guess, I think that's what Binance is pushing... you put half a billion dollars into it, it's a sizeable check if it's just a passive investment," Hoskinson said.

Furthermore, the Cardano founder assessed that integrating crypto payments to the Twitter platform requires a number of infrastructures to make it happen. He mentioned some of them such as crypto wallets, crypto exchanges (exchanges), algorithms for information accuracy, and smart contracts. That way, digital assets, both crypto and NFT, can play a major role in the integration.