Even if Elon Musk hasn’t found his way around yet Chirping, its most recent acquisition, the plans it has for the social network are more than ambitious. The latest news is that he plans to turn it into a superapp that serves multiple purposes.
One of Musk’s goals is for economic transactions to be made within Twitter. The company does not want to wait any longer and has applied for licenses in the United States to launch a possible payment system and it is not excluded that in the future it may include cryptocurrencies.
As promised before taking over the management, his commitment is firm and the social network is preparing the software necessary to make it happen money transactions through the platform.
The product manager of the social network, Esther Crawfordhas assembled a group of developers to outline the architecture of this tool with the aim of introducing these improvements, according to the Financial Times.
Among some of the alternatives that this social network will soon include are savings accounts or debit card. Thanks to these alternatives, he would be able to create a super application also focused on online commerce and messaging.
It has now come to light that, in late 2022, the company registered with the U.S. Department of the Treasury as a payment processor, according to a regulatory filing.
The company expects to submit the rest of the filings later this year, and once approved at the state and local levels, it will submit those requests to other countries, to get approval from other organizations outside the United States.
This is actually a desperate attempt by Musk to raise money, as Twitter currently is on the verge of bankruptcy. To the point that they have come to auction the assets of their offices.
The big difficulty, at least within your own country, is that you’ll have to compete against titans like Apple Pay or PayPal. Furthermore, to use the service, users will have to provide data such as their real identity and other personal information.
New structural reforms
Twitter announced this Thursday that starting February 9, developers will have to pay to access its application programming interface (API), the protocols that allow third parties to take data from the platform and use it in different services or tools.
The social network, which has not revealed the amounthe indicated that he hopes to provide more details on these developments next week.
“Twitter’s data is some of the most powerful in the world. We are committed to providing fast and comprehensive access so they can continue to build with us,” the company said in a series of messages from its development team account. .
The Twitter API, which until now came in free and paid versions, is used by thousands of third-party developers for a multitude of purposes, from building alternative applications to access the platform to investigating hate speech , to any type of services based on information published on the social network.
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Source: Clarin
Linda Price is a tech expert at News Rebeat. With a deep understanding of the latest developments in the world of technology and a passion for innovation, Linda provides insightful and informative coverage of the cutting-edge advancements shaping our world.