He’s spoken elsewhere about wanting to recreate WeChat. If you’re not familiar, it’s like an all-in-one app in China that combines the functions of social media and online financial services. My guess is he wants to create a global ID system like the G20 members focused so heavily on a couple months ago. They want to couple a global ID system with digital welfare payments to citizens in need.Thanks for the video.
While talking about something else, he did briefly mention paypal and that he could create a better version.
Shortly after, he then said that a social media platform needs to be a net positive and if its filled with antisemitism and racism, he wont be able to get 80% of Americans to use it. I look forward to seeing how he manages to keep those things off a platform without restricting content.
If nothing else, Elon is great at getting government to find his projects, he’s like a corporate welfare king. He has put a lot of emphasis on getting as many users payment verified as possible. It is the “know your customer” policy. On the surface it is to reduce troll activity but I suspect it is to eliminate online anonymity in general and bolster his pitch to governments for R&D dollars to build out the ID/financial system. If he is successful it would indeed be the largest financial institution in the world.