Elon Musk asks “what should be developed on Ethereum?”

In his latest tweet storm, the Tesla and SpaceX CEO showed his interest in the Ethereum project just days after announcing plans to enter the car insurance industry

Elon Musk has sparked crypto twitter into a frenzy over the last couple of hours as he took to Twitter to tweet out just the word “Ethereum”.

After sending out the Tweet to his 26 million followers, he managed to get over 60,000 likes and 3,000 comments back to his one-word tweet.

Ethereum founder Vitalik was quick to reply with an invitation for Musk to attend the next Devcon in October, with Musk replying back to laugh at the fact that Buterin should first “stop giving away free ETH”.

Other notable replies came back from Tron founder Justin Sun who just gave the one-word replies of BitTorrent and Tron, in an attempt to promote his project to Musk’s loyal following.

What should be developed on Ethereum?

After the initial one-word tweet, Elon came back to ask a more detailed question of “what should be developed on Ethereum?” to the Ethereum founder.

Vitalik replied back with a detailed response that included the rationale of a “globally accessible financial system, including payments, store of value, and also more advanced stuff like insurance”.

He also gave a link for the Hurricane Guard project that is powered by Etherisc. The insurance project is looking to provide super-fast relief from hurricane disasters with automatic claims that pay if wind speeds are recorded within 30 miles of your home or business.

Other aspects mentioned by the Ethereum founder include a “P2P marketplace for internet connections, incentivised mesh networks “and even “identity, reputation and credit systems for those that currently have few resources (e.g. refugees) “.

Is Musk looking into Ethereum for Hyperloop?

Coin Rivet recently brought you an exclusive that Hyperloop was set to use blockchain technology to revolutionise transportation.

In the interview conducted at Paris Blockchain Week summit, Hyperloop Transport Technologies co-founder and chairman, Bibop Gresta, revealed his plans to utilise blockchain technology as an underlying solution to the “broken” transportation system.

Given Musk’s renewed interest in the Ethereum project, we can only look forward to seeing which industry this billionaire entrepreneur may be plotting to disrupt next.

Coming off the back of the announcement that Tesla will be soon looking to enter the insurance and finance industry for its self-driving cars, could Ethereum have a part to play to bring blockchain technology to a legacy industry ripe for disintermediation?

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


Previous Article

How Element Zero is creating a new definition for stablecoins

Next Article

Latest Bitcoin Cash price and analysis (BCH to USD)

Read More Related articles

Latest Guides

Find in-depth articles, guides and videos designed to give you a better understanding of Bitcoin, DeFi, trading, security and much more.

Get started