Tech

Twitter may face a crypto makeover, billionaire investor hints


Web Summit comes at a time when the entire tech industry as a whole is facing enormous challenges

Web Summit comes at a time when the tech industry as a whole is facing enormous challenges.

Social media platform Twitter could become much more entwined with cryptocurrency and blockchain in the future, one of Elon Musk’s $44 billion takeover backers suggested on Wednesday.

Changpeng Zhao, who owns cryptocurrency company Binance and put $500 million in the takeover of the world’s richest man, has given his first hint that he won’t be an investor. completely silent.

“Give Elon some time to adjust,” he said during a press conference at the Web Summit tech conference in Lisbon, before adding that he’s there to help Twitter with any related moves. to cryptocurrencies in the future.

Zhao spoke on the first day of the gathering, which began Tuesday night with a plea from Ukraine’s first lady that IT workers use their skills to save lives instead of ending them. .

“Some IT professionals in Russia have chosen to be aggressors and murderers,” says Olena Zelenska.

The Web Summit brings together startups, investors, business leaders, and agenda-widening speakers — linguist Noam Chomsky and heavyweight boxing champion Oleksandr Usyk is located in this year’s lineup.

Organizers say all 70,000 tickets have been sold for the first full-scale edition since coronavirus restrictions prevented face-to-face meetings in 2020.

Although most major tech companies are represented, Silicon Valley’s most senior figures rarely appear at such events further.

Olena Zelenska tells attendees that Russia 'puts technology at the service of terrorism'

Olena Zelenska tells attendees that Russia ‘puts technology at the service of terrorism’

Some attendees were pleased with the lower-key approach at a conference that had previously seen the likes of Musk speak.

“These conferences are getting bigger and bigger, it’s getting harder and harder to find interesting things,” says Munich attendee Gabriele Lemmle, who is happier focusing on startups with ideas. new.

Crypto Twitter

With a shortage of Silicon Valley bosses, crypto executives have filled the void.

In one of his talks, Zhao downplayed the current drop in his sector and argued that crypto is one of the most stable assets at the moment.

In his opening remarks Tuesday, he emphasized that Musk is the boss and that he has no plans for Twitter, but by Wednesday his tone had changed.

“We want to greatly support whatever Twitter does with crypto and web3,” he said, referring to a future version of the web that will feature crypto and blockchain.

Web Summit comes at a time when the entire technology industry is facing huge difficulties.

The organizers say all 70,000 tickets have been sold and there will be more than 1,000 presenters

Organizers say all 70,000 tickets have been sold and there will be more than 1,000 speakers.

Companies are reeling from supply chain issues, the trade dispute between the US and China, slumping profits and bad business models, and a broader economic downturn that has rattled investors. investors and consumers had to flee.

But Mark MacGann, a former Uber lobbyist who leaked thousands of infringing documents from his former company in July, focuses on the problems regulators face when try to control big technology.

He said regulators were mostly limited to issuing “small” fines and did nothing to change the behavior of big tech companies.

“When you get so big and rich that you become unmanageable and unregulated, it is very dangerous for society and democracy,” he said.

MacGann – who led Uber’s lobbying efforts in Europe from 2014 to 2016 – leaked thousands of documents earlier this year, leading to numerous allegations that the ride-hailing app broke the law. – allegations that the company denies.

MacGann said Uber has improved since he left, but questioned why the company has attracted millions of people to lobbying to block legislative efforts to provide financial resources. driver more rights.

And he called for more protections for whistleblowers in the tech sector, arguing that workers who disclose negligence in the public sector would enjoy more protections.

Web Summit organizers say more than 1,000 speakers will join the event, which runs through Friday, speaking on topics ranging from cybersecurity to artificial intelligence.

© 2022 AFP

Quote: Twitter could face a crypto makeover, billionaire investor suggestion (2022, Nov. 2) grabs Nov. 3, 2022 from https://techxplore.com/news/2022 -11-binance-boss-hints-crypto-future.html

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