Jack Dorsey’s Conceptualisation of ‘Blockchain Twitter’ Tickled Elon Musk, Leaked Texts Tip

The messages were exchanged before Dorsey stepped down as the CEO of Twitter in November 2021.

Written by Radhika Parashar, Edited by Abhinav Lal | Updated: 3 October 2022 13:07 IST

Jack Dorsey’s Conceptualisation of ‘Blockchain Twitter’ Tickled Elon Musk, Leaked Texts Tip

Photo Credit: Reuters

Elon Musk had offered $44 billion to buy Twitter in April

Highlights

The texts were exchanged between Musk and Dorsey earlier this year
Dorsey does not want Twitter to be an advertisement platform
Musk has supported Dorsey’s idea of decentralising Twitter

Elon Musk is currently in a legal process involving his refusal to buy micro-blogging site Twitter. In the backdrop of this case, a bunch of leaked messages between Musk and Twitter founder Jack Dorsey indicate that the duo had been dabbling in the idea of moving Twitter to blockchain, eliminating its dependency on government controlled, centralised systems. The messages were exchanged before Dorsey stepped down as the CEO of Twitter in November 2021.

Discussing how ideal Twitter should be, Dorsey suggested an ‘open source model' that is handled by a foundation, that contributes to the protocol without having any owning rights on the platform.

At the time, Musk had validated Dorsey's proposal calling it a “super interesting idea”, the leaked messages have tipped.

[Sponsored] Samsung Galaxy S24: The Ultimate Camera Phone With Smarter On-Device AI

“I think it's worth both trying to move Twitter in a better direction and doing something new that's decentralised,” the Tesla CEO had noted.

Dorsey has also expressed reservations against Twitter having transformed into an advertisement hub these recent years.

One of his main goals with shifting Twitter to the blockchain will be to rid it of its position as an advertising model.

CryptoPunks NFT Sold For $4.5 Million, Makes For Largest Sale in Recent Times

Dorsey had highlighted that advertisements give companies and governments a ‘surface area' to control social networking platforms.

Twitter becoming a ‘company' is Dorsey's biggest regret, he had claimed in a tweet earlier in August.

The biggest issue and my biggest regret is that it became a company.
— jack (@jack) August 25, 2022

In April this year, Musk purchased a 9.2 percent stake in Twitter and two weeks later he offered to buy the company for $44 billion (roughly Rs. 3,59,855 crore).

Musk however, began reneging on the Twitter buyout, claiming that the company hadn't levelled with him about the number of spam and bot accounts among its more than 230 million users.

Twitter says Musk has buyer's remorse and his concerns are a pretext to get out of a deal.

A trial on October 17 in the case will most likely finalise if Musk, the richest man in the world, can or cannot walk away from buying Twitter out.

Apple unveiled eight new products at its September 'Far Out' event. Which ones will float — and which will sink? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.

Affiliate links may be automatically generated - see our ethics statement for details.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Cryptocurrency, Twitter, Jack Dorsey, Elon Musk, Blockchain

Radhika Parashar

Email Radhika

Radhika Parashar is a senior correspondent for Gadgets 360. She has been reporting on tech and telecom for the last three years now and will be focussing on writing about all things crypto. Besides this, she is a major sitcom nerd and often replies in Chandler Bing and Michael Scott references. For tips or queries you could reach out to her at RadhikaP@ndtv.com. More