Elon Musk revealed why he changed the iconic name ‘Twitter’ and the bird logo in his latest tweet on Tuesday. Musk confirmed that in order to push the boundaries for payment integration, the old identification needs to be dismissed. The billionaire plans to make X a comprehensive communication platform that also can conduct robust financial transactions.
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The Tesla CEO’s vision is to make ‘X’ a feasible financial platform with the ability to conduct users’ entire financial world. He revealed that the name ‘Twitter’ and the bird logo do not hold well with the idea of a financial platform, therefore it was rebranded into X.
“In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world. The Twitter name does not make sense in that context, so we must bid adieu to the bird,” he tweeted.
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Twitter’s X To Enable Global Financial Transactions
Musk did not confirm a timeline for when the platform will roll out its financial services. The move is bold considering that rebranding an established brand like Twitter comes with the risk of alienation. Users are mostly content with the name Twitter and a drastic change may alter the way the platform is evaluated.
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Nonetheless, Musk is known for taking bold decisions and a handful of his ideas have turned successful. Therefore, there is a high chance that the X financial system could slowly yet steadily take over the world.
X would be used for both social media and a platform where users initiate financial transactions. The move gives the brand a boost, making it stand apart from the other social media apps in the market. Musk is also a proponent of cryptocurrencies, therefore one can expect that digital currencies might also be a part of X.