Linda Yaccarino, CEO of X, announced at the Cannes Lions International Festival of Creativity that the company, formerly known as Twitter, is set to launch a peer-to-peer payment feature. Under her leadership, the social media company has made significant strides in enhancing user utility. This aligns with Elon Musk's vision, who took over the platform at the end of 2022, aiming to transform X into the ultimate "super app."摘要：X首席执行官LindaYaccarino宣布X（前身为Twitter）即将推出点对点支付功能。X首席执行官琳达·亚卡里诺(LindaYaccarino)在法国戛纳国际创意节上发表讲话时强调，自她接手以来，这家社交媒体公司在提升用户效用方面取得了巨大的认知突破。...
Since Musk took over, he has been dreaming of expanding X's functionality beyond social networking. He also seeks to enhance commercial opportunities on the platform by providing users with an integrated platform. Under Yaccarino's leadership, X has been dedicated to realizing Musk's vision, describing the company's vision and progress as "unprecedented."
In mid-2023, X obtained multiple licenses to operate as a payment service provider in several states in the United States, laying the groundwork for the imminent launch of the payment system. This move is expected to significantly improve the user experience on the platform.
"There are so many new experiences to look forward to. Just think, once we launch the payment service - starting in the U.S. - the financial system will enter the platform," Yaccarino pointed out.
The concept of the "super app" extends far beyond the realm of social media. Although the platform will initially support fiat currency, the company has considered future integration of encrypted payments during the development of its system.
The disclosure of the upcoming peer-to-peer feature by X has generated optimism among Doge enthusiasts, indicating the potential integration of Dogecoin payments in the future.
Elon Musk's grand vision for X, including transforming the platform into an all-encompassing application, incorporating payments, audio and video calling, news, and even dating, is captivating. The most intriguing aspect of this ambitious project? The integration of the popular meme coin, Dogecoin, into X Payments.
According to Bloomberg, Linda Yaccarino, CEO of X, confirmed that the development of X Payments LLC is progressing smoothly. While specific details are not yet clear, documents submitted to state regulators have revealed plans for functionality similar to Venmo.
Musk has repeatedly emphasized the need for X to diversify its revenue sources and no longer rely solely on advertising, which previously accounted for over 90% of the company's profits. He aspires for X to become the world's largest financial institution, leveraging payment services to increase user engagement and participation on the app.
Financial documents submitted to regulators highlighted the challenges the company has faced since Musk's acquisition at the end of 2022. Revenue in the first half of 2023 plummeted to $14.8 billion, a nearly 40% decrease compared to the same period in 2022.
The company also reported a loss of $456 million in the first quarter of 2023. Despite these challenges, Musk's vision remains undeterred, as he holds nearly 75% of the shares in X's parent company, X Holdings Corp. At the time of writing, the value of DOGE is $0.121, having dropped by 10% in the past day.
Source: TradingView
DOGE's 50-period moving average and 200-period moving average currently show a downward trend, indicating a strong bearish market. The price has remained below these averages, serving as dynamic resistance and reinforcing bearish control.
Nevertheless, recent developments have shown the MACD line crossing the signal line, indicating a possible bullish reversal or rebound in the short term. Overall, the short-term outlook for DOGE remains pessimistic.
