Elon Musk Reveals His Tokenized "X Money" Will Enter Beta Testing Soon, 'This Is Intended To Be The Place Where All Money Is. The Central Source Of All Monetary Transactions'
Musk has previously reiterated that when he bought Twitter that he was going to turn into an omni-app identical to China's WeChat, which is used by the CCP to enforce its social credit score.
Elon Musk, the richest man in the world on paper, revealed on Wednesday that his X Money platform will soon enter official live beta testing in one or two months, with plans to officially launch the service for the app’s over 1 billion users.
Musk revealed his ambitions during an XAI presentation this week.
During the presentation, Musk had this to say about X Money and the future of the social media platform:
“For XMoney, we actually had XMoney live in closed beta within the company, and we expect in the next month or two to go to a limited external beta and then to go worldwide to all X users.
“And this is really intended to be the place where all the money is, the central source of all monetary transactions. So it's really going to be a game-changer.
“And the reason we say one billion users […] is that while our monthly users are on average around 600 million, the number of people who have the X app installed is well over a billion. It's just that most people only occasionally come to the X app when there's some major world event.
“But as we give people more reasons to use the X app, whether it's for communications, for Grok, or for XMoney, whatever the case may be, we want it to be such that if you want to, you could live your life on the X app.
“And as we make it more and more useful, we'll obviously give people reasons, compelling reasons to use the app every day and have, my expectation is, well over a billion daily active users.”
The WinePress reported last year that X Money partnered with Visa to help make this new platform a reality, but not much was spoken about it after that January announcement.
Banking Dive noted that in 2022, Musk told Twitter’s staff that he planned to “populate a balance for every verified Twitter user,” per a report from The Verge.
Musk’s latest comments echo previous remarks intending to then-Twitter into what would later now be called X, emulating China’s WeChat; an app that combines digital ID, social media, private messaging, banking, important documents, medical records and more.
WeChat is used to enforce the country’s social credit score as everyone’s records are available on that single app.
In 2023, Watcher.Guru reported that X would become more like China’s WeChat, and that, according to Musk, “X would become half of the global financial system,” he said, “if done right,” he clarified. Musk also noted that it will be done in a way that most people do not think of when it comes to banking, but as the “most efficient database for the thing that is money,” he explained.
The same day, the now-former X CEO Linda Yaccarino also posted:
“X is the future state of unlimited interactivity – centered in audio, video, messaging, payments/banking – creating a global marketplace for ideas, goods, services, and opportunities. Powered by AI, X will connect us all in ways we’re just beginning to imagine.
“For years, fans and critics alike have pushed Twitter to dream bigger, to innovate faster, and to fulfill our great potential. X will do that and more. We’ve already started to see X take shape over the past 8 months through our rapid feature launches, but we’re just getting started.
“There’s absolutely no limit to this transformation. X will be the platform that can deliver, well….everything. Elon Musk and I are looking forward to working with our teams and every single one of our partners to bring X to the world.”
On May 16th, 2022, Musk was a guest on the All-In Podcast where the hosts discussed a variety of topics, though mostly centered on technology, including his thoughts on Twitter – well before his recent purchase of the company.
During the podcast, Musk was asked about his thoughts on the Chinese-based app WeChat, and if Musk would consider making Twitter more like WeChat. He had this to say:
“For those that have used WeChat – WeChat’s actually a good model. If you’re in China you kind of live on WeChat: it does everything.
“It’s sorta like Twitter, plus PayPal, plus a whole bunch of other things, and all roll into one with actually a great interface, and it’s really an excellent app.
“And we don’t have anything like that outside of China.
“Such an app would be really useful.[…] But I think this thing really needs to exist whether it is converting Twitter to be [like] an all-encompassing app, […] or start something new […], but it does need to happen somehow.”
This was not the last time, however, Musk considered overhauling Twitter and making it more like WeChat.
In another interview, courtesy of The Kilowatts, where Musk joked about how he would literally just copy and paste the WeChat framework, and then sit back and watch the profits roll in.
“We don’t even have an app that’s as good as WeChat in China – you can live on WeChat, basically.
“WeChat is kickass, and we don’t have anything like WeChat outside of China.
“My idea would be like: ‘how about if we just copy WeChat?’ Copy them!”
Meanwhile, Russia is already rolling out their version of WeChat called MAX for the same purposes as China.
AUTHOR COMMENTARY
Proverbs 29:5 A man that flattereth his neighbour spreadeth a net for his feet.
When Musk began to make his intentions clear on what he wanted to become, notice how he said “for the thing that is money.” That’s important because it implies it is no longer dollar-dominated. Thus, this insinuates tokenization without saying it.
When we examined the White House’s intentions to tokenize the economy and assets last year, the authors admitted in their document that tokens will function as “money-like” assets. It’s not money, it’s a token with code that stores arbitrary value, rights, “ownership,” history and more. It’s a paperless permission slip with smart contracts that have self-executing code.
Furthermore, Musk is using the same language we have heard Larry Fink and many of these fintechs and central bankers use, that eventually everything will be tokenized and they will keep people inside this new system.
The new world financial system is being consolidated and reshaped before our eyes. Banks are consolidating and all that will eventually be left are a handful of commercial banks, non-traditional fintech corporations, some international governing bodies underpinned with central banks running the show pulling the strings.
Musk has also favored universal basic income, and his X Money is primed for that.
As for me — and I this will be you as well — I will use no such app. I only use X for research, but that time is also coming to an end because I will not be using tokens on Musk’s platform.
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On one of his missionary journeys, the apostle Paul visited Athens, Greece, where he said he witnessed “the city wholly given to idolatry,” and who were “too superstitious” and worshipped a plurality of gods and deities, though the people acknowledged that there was still one God above all that was a mystery to them. When questioned by the philosophers …
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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"wE mUsT cOmPeTe WiTh ChInA"
The answer is, no.