The head of FTX, Sam Bankman-Fried, said that he considers the level of cooperation between social media platforms to be insufficient. The specialist also noted: they stay away from cryptocurrencies. The businessman announced his own plans to use blockchain technology to correct the situation on such sites and improve communication between them.
According to the entrepreneur, there is now an extremely confusing ecosystem in which there is no interaction between different platforms. Users are unable to see the tweet on Facebook. Similarly, a message from FB cannot be seen on WhatsApp, even though both services are owned by the same company. Bankman-Fried said that there is a need to change the state of affairs, as well as to integrate digital payments into all social networks.
The CEO of FTX wants to change a lot in the industry, inspired by how members of the cryptocurrency community communicate with each other. According to the expert, cross-chain bridge technology should be used not only in the blockchain industry, but also in the rest of the world. The expert noted that crypto projects are easily combined with each other. This approach is needed for the development of other industries.
The founder of FTX also said that it is not right for a few people to choose what is good and what is not and censor the content. An innovative approach would be a breakthrough in social networks. This will allow different platforms to access the same pool of data to make independent censorship decisions.
Bankman-Fried said that he has not yet spoken about his plans with Elon Musk, but is going to contact him and talk about the vision of solving problems. After acquiring a stake in Twitter, the chief engineer of SpaceX can seriously help him.
Earlier edition reported that average trading volumes on FTX have increased by $140 million over the past year.