Changpeng Zhao promised Elon Musk to integrate Web3 technologies into Twitter

Changpeng Zhao, the founder and CEO of Binance, said that he is ready to help new Twitter owner Elon Musk implement Web3 technologies on the platform. In an interview with CNBC’s Squawk Box, Zhao said that there are many reasons why Binance invested $ 500 million in Musk’s purchase of Twitter. The Binance CEO emphasized that Twitter is a global platform for free speech. Zhao also added that he himself is «very active» on the social network.

«We want to make sure that #crypto has a seat at the table when it comes to free speech,» says @cz_binance on @binance investing $ 500M in @elonmusk's purchase of @twitter. «We want to help bring @twitter into Web3 when they’re ready.» pic.twitter.com/BmbWJqXvul

— Squawk Box (@SquawkCNBC) October 31, 2022

Changpeng Zhao also emphasized that Binance will be able to benefit Twitter by helping the platform accept cryptocurrency as a means of payment for premium accounts and other additional bonuses in the future.

«We want to make sure that cryptocurrencies work for free speech. There are also more tactical things — we want to help bring Twitter to Web3,» the Binance CEO said. Zhao added: «We want to help solve immediate problems, such as becoming a platform that charges for premium community membership. This can be done very easily and at the same time globally using cryptocurrencies as a means of payment.»

It should be added that the cryptocurrency exchange Binance is creating an internal unit to help Twitter fight bot accounts using blockchain technology. In particular, it is planned to develop solutions that prevent the proliferation of robot accounts. One of these innovations could be paid tweet publishing. «The team is actively engaging with Elon Musk and discussing possible strategies that could help the new owner of Twitter realize his vision,» the crypto exchange said.