Elon Musk Says X Will Launch Payment Services by Mid-2024-2

1/16/24, 9:19 AM Elon Musk says X will launch payment services by mid-2024
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TOM MITCHELHILL DEC 22, 2023
Elon Musk says X will launch payment services by

mid-2024
Elon Musk, the owner of X, expects to launch payment services as
early as the middle of 2024.
14342 37 2:48
NEWS
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https://cointelegraph.com/news/elon-musk-x-launch-payments-everything-app-mid-2024 1/17
Elon Musk’s “everything app” X (formerly Twitter) is expected to

launch in-app payment services on its social media platform around
mid-2024, though crypto integration now seems remote.
Speaking to ARK Invest’s Cathie Wood in a Dec. 21 X space, Musk

said he expects payment services to be fully launched sometime by
the “middle of next year,” pending the approval of several money
transmitter license applications.
Cathie Wood
@CathieDWood · Follow
Looking forward to talking with @elonmusk today at

5 pm ET on X Spaces! Can't wait to hear his thoughts
on the AI space, bitcoin, and so much more. Join us.
twitter.com/i/spaces/1rmxP…
12:40 PM · Dec 21, 2023
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Read 1.9K replies
Musk said he hoped to have launched payments on the social media

platform sooner but had been weighed down by bureaucratic
processes.
Musk said that he wasn’t aware of any potential “showstoppers” that

might see their money transmitter license applications rejected,
adding that X had been “a bit late” in submitting all the necessary
documents.
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Many crypto enthusiasts hoped that Musk might integrate one of his
preferred cryptocurrencies — including Dogecoin DOGE $0.08
and Bitcoin BTC $42,805 — as part of the X payments system.
However, the Tesla CEO has never confirmed this and appears to
have put a further damper on crypto-related enthusiasm after
revealing he spends “hardly any” time thinking about digital assets.
Despite Musk’s seemingly newfound indifference to crypto, Tesla

still holds some $148 million in Bitcoin on its balance sheet, and the
electric vehicle manufacturer allows customers to buy merchandise
from the Telsa Shop with Dogecoin.
Tesla’s Frequently Asked Questions page on Dogecoin. Source: Tesla
Reports in 2022 also suggested that Musk’s tunnel construction firm,

The Boring Company, had begun allowing customers to pay for rides
on its Las Vegas transit system using Dogecoin.
Related: Tesla’s humanoid robot is now 30% faster, 22 pounds

lighter
“I don’t spend a lot of time thinking about cryptocurrency. Hardly

any at all,” Musk said in response to a question written by his own
artificial intelligence (AI) project Grok.
Musk, however, explained that he imagines money and digital

assets as a “database for resource allocation,” adding that fiat
currency is “actually fine” so long as state actors don’t try to debase
the currency by manipulating its supply.
On the topic of AI, Musk said one of the primary development goals
for the Grok AI system was to make it the funniest large language
model, saying that if users asked the AI for a “vulgar roast,” they’d
enjoy the outcome.
Magazine: Terrorism and the Israel-Gaza war have been

weaponized to destroy crypto
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#Bitcoin #Twitter #Business #Payments #Mobile Payments
#Elon Musk
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BRAYDEN LINDREA DEC 22, 2023
Decentralized ID, ZK-proofs are key to safety for

refugees — UN agency
The United Nations has been using cryptocurrency wallets to get
financial aid to refugees, and now it sees ZK-proof tech as another
critical tool.
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Decentralized identity through zero-knowledge proofs (ZK-proofs) is

critical to ensuring the safety of refugees forced to cross borders,
says the treasurer of a United Nations agency.
It is currently a mission for the United Nations High Commissioner

for Refugees (UNHCR) to build an identity infrastructure to ensure
refugees can quickly migrate with their identity verified and intact,
says Carmen Hett, treasurer of the Division of Financial and
Administrative Management for the UNHCR.
One of the well-documented challenges facing refugees is being

able to prove who they say they are, as most times, their own
government holds the key to verifying their identity.
Cointelegraph editor-in-chief Kristina Cornèr moderating a panel

discussion with execs from the UNHCR, World Trade Organization and
International Telecommunication Union. Source: Decentral House
“Imagine yourself as a refugee going across borders; not all the laws
in every country are the same, so the key is [to have] a system that
can ensure the trust that we can guarantee as UNHCR to make sure
identity is actually secure and safe for the people at risk,” explained
Hett in a Dec. 14 panel discussion moderated by Cointelegraph’s
Kristina Cornèr in Geneva, Switzerland.
Hett said implementing ZK-proofs can secure the safety of refugees

when crossing borders:
“In the refugee context, identity, data protection, making sure

that it is borderless, building trust, making sure we can deploy
zero-knowledge proofs, there are a lot of techniques to make
this even more secure.”
A refugee who can’t prove their identity could end up being

restricted from accessing a bank account, employment
opportunities and other benefits and services in the country they
migrated to, according to Concordium.
ZK-proofs could serve as a potential solution, argued Hett. ZK-proofs

are a cryptographic protocol that allows one party to prove the truth
of a statement to another party without sharing any of the
statement’s contents.
It is commonly integrated into digital identity solutions to ensure

one’s identity can be proven without the verifier or anyone else
needing to see original documentation.
The UNHCR treasurer, however, said more effort needs to come

from regulators for adoption to increase.
The UNHCR is mandated to aid and protect refugees, forcibly

displaced communities and stateless people and to assist in their
voluntary repatriation, local integration or resettlement to a new
country. The agency was created in December 1950, during the
aftermath of World War Two, to help millions of Europeans who fled
their homes.
The UN agency launched a pilot cash-based intervention project in

December 2022 in which it delivered USD Coin USDC $1.00
stablecoin to wallets accessible to Ukrainian refugees who were
displaced by the Ukraine-Russia war.
The project enabled Ukrainian refugees to easily access fiat, Hett

explained.
Related: Stellar partners with UNHCR to give Ukrainian refugees

cash via USDC
Hett praised the speed, accuracy and transparency at which

transfers can take place from the UN to those in need all around the
world:
“[Because of blockchain] we can actually deliver aid within

literally minutes.”
Hett said the UNHCR is also focused on strengthening the financial

and digital literacy of the displaced refugees.
“We prepare them for the future to go about their lives cross-border
and be able to carry the money with them in safe storage in their
wallet, so it is very enticing.”
Magazine: Slumdog billionaire: Incredible rags-to-riches tale of

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#Blockchain #Identity #Adoption #Identification #Refugee Crisis
#United Nations #Stablecoin #USD Coin
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Despite their undisputed importance, oracles are a niche market

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The market has been dominated by the blockchain oracle network

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top 15 largest cryptocurrencies by market cap for years.
While Chainlink positions itself as a decentralized network, market

players are concerned about its high level of centralization that can
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Chainlink’s critics, crypto researcher Chris Blec, once said:
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This decentralized protocol lets users deploy

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Scry’s oracles support arbitrary API endpoints, secure verifiable

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1/16/24, 9:19 AM Elon Musk says X will launch payment services by mid-2024

TOM MITCHELHILL DEC 22, 2023

Elon Musk says X will launch payment services by

Collect article Own this piece of history as an NFT

Join us on social networks

Elon Musk’s “everything app” X (formerly Twitter) is expected to

Speaking to ARK Invest’s Cathie Wood in a Dec. 21 X space, Musk

Looking forward to talking with @elonmusk today at

13.7K Reply Share

Read 1.9K replies

Musk said he hoped to have launched payments on the social media

Musk said that he wasn’t aware of any potential “showstoppers” that

and Bitcoin BTC $42,805 — as part of the X payments system.

Despite Musk’s seemingly newfound indifference to crypto, Tesla

Tesla’s Frequently Asked Questions page on Dogecoin. Source: Tesla

Reports in 2022 also suggested that Musk’s tunnel construction firm,

Related: Tesla’s humanoid robot is now 30% faster, 22 pounds

“I don’t spend a lot of time thinking about cryptocurrency. Hardly

Musk, however, explained that he imagines money and digital

Magazine: Terrorism and the Israel-Gaza war have been

Explore more articles like this

#Bitcoin #Twitter #Business #Payments #Mobile Payments

Web3 meets instant messaging: Monetization of

Spot Bitcoin ETF custody vs. exchange custody:

BRAYDEN LINDREA DEC 22, 2023

Decentralized ID, ZK-proofs are key to safety for

Collect article Own this piece of history as an NFT

Join us on social networks

Decentralized identity through zero-knowledge proofs (ZK-proofs) is

It is currently a mission for the United Nations High Commissioner

One of the well-documented challenges facing refugees is being

Cointelegraph editor-in-chief Kristina Cornèr moderating a panel

Hett said implementing ZK-proofs can secure the safety of refugees

“In the refugee context, identity, data protection, making sure

A refugee who can’t prove their identity could end up being

ZK-proofs could serve as a potential solution, argued Hett. ZK-proofs

It is commonly integrated into digital identity solutions to ensure

The UNHCR treasurer, however, said more effort needs to come

The UNHCR is mandated to aid and protect refugees, forcibly

The UN agency launched a pilot cash-based intervention project in

The project enabled Ukrainian refugees to easily access fiat, Hett

Related: Stellar partners with UNHCR to give Ukrainian refugees

Hett praised the speed, accuracy and transparency at which

“[Because of blockchain] we can actually deliver aid within

Hett said the UNHCR is also focused on strengthening the financial

Magazine: Slumdog billionaire: Incredible rags-to-riches tale of

Explore more articles like this

A weekly pulse of the business behind blockchain and crypto. Delivered

#Blockchain #Identity #Adoption #Identification #Refugee Crisis

#United Nations #Stablecoin #USD Coin

Web3 meets instant messaging: Monetization of

Circle CEO sees ‘very good chance’ of stablecoin laws

ANATOL HOOPER JAN 12, 2024

How this decentralized protocol democratizes data

Concerns about increasing centralization plague the blockchain

Scry, a decentralized oracle protocol, enables anyone to build

Blockchain oracles are essential in the regular operation of

Despite their undisputed importance, oracles are a niche market

The market has been dominated by the blockchain oracle network

While Chainlink positions itself as a decentralized network, market

compromise decentralized finance (DeFi) and Web3 apps. One of

“The entire DeFi industry — VCs, DAOs, devs, everyone — is

This decentralized protocol lets users deploy

Scry, a recently launched oracle protocol, provides this