FTX CEO Sam Bankman-Fried has proposed changing the “broken model” of social networks through the blockchain. To do this, he is ready to discuss with Elon Musk the possibility of interaction between Twitter and the bitcoin exchange, writes Bloomberg.

Bankman-Fried said in an interview that he has not yet had a thorough discussion with the Tesla founder on this subject, but he would be happy with such an opportunity.

“What is the moderation policy? The executives of the three companies choose what is and isn’t censored. This is a “flawed model”. An extremely confusing system where there is no interaction between different platforms anymore. There is no way to see the tweet on Facebook. If you message someone on Facebook, WhatsApp can’t read it even though it’s the same company”said.

To ensure freedom of expression is protected, Bankman-Fried proposed a system where every social network can get key data from the same source and independently make censorship decisions. stressed that he had made the decision.

Encourage competition by leveling the playing field between platforms with large user bases and platforms that are just starting out.

Recall that Musk became Twitter’s largest shareholder after buying a 9.2% stake for $2.89 billion. On April 14, the billionaire offered to buy the platform for more than $43 billion. He announced it “with the intention of creating an inclusive arena for free.” not with a desire to talk” and make money.

In response to the hostile takeover attempt, Twitter management approved a defense plan. It allows shareholders to purchase additional shares at a discount if any institution or person acquires at least 15% of company securities without the approval of the board of directors.