X owner Elon Musk is projected to launch X payments around the middle of next year, at the earliest.
While the incorporation of cryptocurrency is now still a distant prospect, Elon Musk’s “everything app” X is anticipated to include in-app payment services on its social networking platform somewhere in the middle of 2024.
In an X session with ARK Invests Cathie Wood on December 21, Musk said his intention to completely deploy payment services by the “middle of next year,” subject to the acceptance of several money transmitter license applications.
Musk said that bureaucratic red tape prevented him from launching the social media platform’s payment feature sooner.
Although X was “a bit late” in delivering all the required paperwork, Musk said he was unaware of any possible “showstoppers” that would have their money transmitter license applications denied.
But the CEO of Tesla has never acknowledged this, and by saying he spends “hardly any” time considering digital assets, he seems to have further dampened crypto-related excitement.
Despite Musk’s apparent newfound disinterest in cryptocurrency, Tesla has $148 million in Bitcoin on hand and accepts Dogecoin as payment for products in the Telsa Shop.
According to Tesla, in 2022, there were rumors that the Boring Company (TBC), Musk’s tunnel construction company, started accepting Dogecoin as payment for trips on its Las Vegas transportation system.
“When I’m not working, I’m not thinking about cryptocurrencies. Absolutely none,” Musk responded to a query posed by his own AI initiative, Grok.
But Musk clarified that in his mind, digital assets and money are a “database for resource allocation.” He went on to say that fiat currency is “actually fine” as long as governments don’t attempt to manipulate its supply in order to debase it.
Regarding artificial intelligence, Musk said that making the Grok AI system the “funniest” LLM was one of its main development objectives. He went on to claim that consumers would be pleased with the result if they requested a “vulgar roast” from the system.
Also Read: Argentine Minister Speaks Out About Bitcoin and Ethereum as Payment Methods December 22, 2023
Wallets