Will Elon Musk Create a Crypto for His Possible Empire Including Tesla SpaceX & Others

Will Elon Musk Create a Crypto for His Possible Empire Including Tesla SpaceX & Others

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Cryptocurrencies are more and more relevant in our lives, as they prove their reliability and ease of use. Tesla and SpaceX CEO, founder of The Boring Company and Neuralink, Elon Musk, is committed to creating products and services that will make the life of humanity better. It is likely that creating his own unique cryptocurrency would make it easier to pay for all of these Musk-related products and services, and seems like a great idea.

A cryptocurrency (or crypto) is a digital asset designed to work as a medium of exchange where individual coin ownership records are stored in a ledger existing in a form of the computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership. It typically does not exist in physical form (like paper money), and is typically not issued by a central authority.

At first glance, it seems that Tesla, SpaceX, Neuralink, and The Boring Company are developing in different areas and trying to solve completely different problems. Nevertheless, despite this, they are united by a common goal—a broad vision—to ensure the continuous progress and survival of all humanity. Earlier, YouTuber Dave Lee suggested Musk create a holding company that would unite his brainchildren under the banner of a single goal: Mission X, and the entrepreneur seems to like this idea.

As a continuation or addition to this idea, Musk can also consider the idea of creating a cryptocurrency whereby people can buy any product of his companies—whether it’s to pay for charging, services, applications and software. In addition, the use of the services of Starlink, The Boring Company and the purchase of tickets for the Starship, which in the future will be able to quickly transport you to any point on the Earth, and beyond, can also be paid with cryptocurrency.

The X-coin could be the ideal name for this cryptocurrency, since Musk has long been associated with X. In July 2017, Musk bought the domain name that he owned back in 1999. He owned when it served as home to his financial services startup, which was eventually merged with another company called Confinity in a deal that would be rebranded as PayPal in 2001.

Cryptocurrencies will replace fiat by 2030, according to a study by Deutsche Bank, Germany's largest financial conglomerate. The increased public demand for dematerialized means of payment and anonymity will contribute to the spread of digital money, the author of the report, Jim Reid, is sure. European Central Bank Board Member Benoit Kere also spoke about replacing traditional money with virtual money. Cash is rapidly losing popularity, he said.

All this suggests that the creation of a unique and unified cryptocurrency for SpaceX, Tesla, The Boring Company, Neuralink, as well as for possible future projects of Musk, is an excellent and timely idea.

© 2021, Eva Fox. All rights reserved.


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Article edited by @SmokeyShorts, you can follow him on Twitter

About the Author

Eva Fox

Eva Fox

Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.

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