Ethereum's Buterin Predicts Rise of New Rivals To Musk's Twitter | Mobile News

Ethereum's Buterin Predicts Rise of New Rivals To Musk's Twitter

Vitalik Buterin, co-founder of the Ethereum blockchain, said more rivals to Twitter Inc. could spring up.

By:BLOOMBERG
| Updated on: Nov 04 2022, 15:07 IST
When Elon Musk tweet sparked horror online abuse against Vijaya Gadde at Twitter
Elon Musk
1/6 Elon Musk tweet back in April had sparked a storm against Twitter's Vijaya Gadde. The SpaceX and Tesla CEO’s previous tweets have caused a controversy following his completed takeover of Twitter. (PowerfulJRE YouTube)
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2/6 Elon Musk’s old tweets about Twitter’s top lawyer Vijaya Gadde are back in the spotlight after he took a bold step on his first day as the new owner of Twitter by firing Twitter Chief Executive Parag Agrawal, Chief Financial Officer Ned Segal and legal affairs and policy chief Vijaya Gadde. (Wikimedia Commons)
Elon Musk
3/6 Musk was responding to a tweet from Saagar Enjeti, host of a political podcast and called the move “incredibly inappropriate.” According to Bloomberg, while Musk didn't identify Gadde by name, the post was in response to an article in which she was mentioned. (AFP)
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4/6 Enjeti tweeted on April 27, “Vijaya Gadde, the top censorship advocate at Twitter who famously gaslit the world on Joe Rogan's podcast and censored the Hunter Biden laptop story, is very upset about the @elonmusk takeover.” (Breaking Points/YouTube)
Elon Musk
5/6 Musk has frequently used the social media platform as a way to criticize the company’s decisions, especially when they involve banning accounts from people who violate Twitter's rules and policies. Twitter has banned people like American rapper Ye, formerly known as Kanye West due a couple of anti-semitic tweets recently. (PTI)
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6/6 A flurry of negative, and even abusive tweets from Twitter users followed Musk’s comments directed at Gadde. Racist slurs were tweeted referencing Gadde’s Indian heritage, with words like “curry” used to target the Twitter lawyer. Users questioned Gadde and blamed that she “destroyed countless @Twitter accounts for speaking the truth.” Racist comments were even hurled at ex-Twitter CEO Parag Agrawal. (AFP)
Elon Musk
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Ethereum's Vitalik Buterin said more rivals to Twitter Inc. could spring up for a better social media experience. (AFP)

Vitalik Buterin, co-founder of the Ethereum blockchain, said more rivals to Twitter Inc. could spring up amid a push for a better social media experience.

Buterin, speaking at the Singapore FinTech Festival on Thursday, said he's “hopeful in the next five to 10 years there's going to be some kind of better social media platform” whether that's “Twitter itself or whether we'll see a big ground-swelling with alternatives -- we could even see both.”

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He said one of the problems on Twitter that bugs him is the way other accounts try to leverage his posts and profile to market highly speculative cryptocurrency tokens that often lack any rules of operation.

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Buterin was responding to questions about Twitter following Elon Musk's $44 billion acquisition of the the company. Musk plans to eliminate half of the social media company's workforce to cut costs, according to people familiar with the matter.

“Elon is a very high variance actor,” Buterin said. He could make Twitter “really great” or “really terrible” -- and the latter scenario might open up “opportunities for other people to do something great.”

Twitter may also end up somewhere in the middle between those two extreme outcomes, Buterin added.

The Ethereum network Buterin helped to create is the most important blockchain commercially, facilitating an array of financial applications. Buterin said he intends to maintain a leadership role at Ethereum but that he wants to create space for others to contribute as well.

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First Published Date: 04 Nov, 15:07 IST
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