20th September 2023 Digital Bytes

Elon Musk's ambition for the future of digital payments - Elon Musk's rebranded Twitter (now known as ‘X’) represents a return to his interest in digital payments, aiming to create an all-in-one “everything app” along the lines of China's WeChat. Inspired by Apple's high-yield savings account and PayPal's stablecoin, Musk is seeking innovation in the financial sector. His vision combines social media, messaging and payments, with potential cryptocurrency integration and Tesla's referral programme adding another dimension. Musk envisions 'X' becoming the “People's Financial Institution", offering cash balances, competitive interest rates and more. Challenges, however, are trust and regulatory complexities, but his vision could certainly revolutionize social media and finance, so reshaping the fintech landscape.

How blockchains are impacting asset-backed lending - blockchain technology is revolutionizing asset-based lending (ABL) by providing transparency, efficiency and security. It ena…