Over the last couple months, we discussed the value of payments to the Hive ecosystem.  The view is that we are looking at a huge opportunity for future expansion.  At the [base layer](https://leofinance.io/@leoglossary/leoglossary-base-layer-blockchain), we have a [wallet](https://leofinance.io/@leoglossary/leoglossary-wallet) system, [feeless](https://leofinance.io/@leoglossary/leoglossary-fast-and-fee-less-hive) transactions, [one-block irreversibility](https://leofinance.io/@leoglossary/leoglossary-one-block-irreversibility-hive), and a [stablecoin](https://leofinance.io/@leoglossary/leoglossary-stablecoin).  All of this combines to make Hive stand out in the blockchain world.

Of course, there is a lot more than just what cryptocurrency presents.  The overwhelming majority of the global payments are made by the traditional system.  This is a web of [networks](https://leofinance.io/@leoglossary/leoglossary-network) that control the flow of [money](https://leofinance.io/@leoglossary/leoglossary-money) throughout the world.

Some of the largest processors are [banks](https://leofinance.io/@leoglossary/leoglossary-bank), [Visa](https://leofinance.io/@leoglossary/leoglossary-visa), PayPal, and [corporations](https://leofinance.io/@leoglossary/leoglossary-corporation) like MoneyGram.  All of these are well established.

We can now look at adding Elon Musk and Twitter to the list.

<center>![image.png](https://images.hive.blog/DQmTqCMACe47QWSFjMwuH9ErCUf2cA6DPARuPSGjRzydjuP/image.png)</center>

## Twitter: Merging Social Media and Finance

This is something we discussed in the past yet we are starting to get more news about it.  [Blockchains](https://leofinance.io/@leoglossary/blockchain) are not the only ones looking to disrupt the existing players in the payment world.  Twitter is seeking to move beyond just a [microblogging](https://leofinance.io/@leoglossary/leoglossary-microblogging) platform.

When Musk purchased the company, his view was not one of a [social media](https://leofinance.io/@leoglossary/leoglossary-social-media) site.  Instead, he foresaw it as a full-fledged [digital](https://leofinance.io/@leoglossary/leoglossary-digital) platform blending that with finance.

Here is what is being reported in [cryptoslate](https://cryptoslate.com/twitter-moving-ahead-with-payment-processing-service-crypto-integration-may-come-later/).

>Citing staffers with knowledge of the plan, FT reported that Twitter has started applying for licenses through both state and federal regulators and would also seek regulatory approvals internationally.

It is obvious Musk sees the same thing we discuss.  PayPal's [market capitalization](https://leofinance.io/@leoglossary/leoglossary-market-capitalization) as a payment processor is worth $90 billion while he paid $44 billion for a social media company.  This makes it clear what [Wall Street](https://leofinance.io/@leoglossary/leoglossary-wall-street) values.

Of course, it would not be disruption without adding some more flair to the equation.

>FT reported that while Musk would initially like the payment service to focus on fiat, he hopes a second layer would allow for crypto integration. 

He is hoping to integrate cryptocurrency payments into the platform, bringing an even bigger disruption to the [financial services](https://leofinance.io/@leoglossary/leoglossary-financial-services) landscape.

## Cryptocurrencies Are A Payment System

Here is an example of how everything is being completely reverse.

Let us be clear: cryptocurrencies already are [payment](https://leofinance.io/@leoglossary/leoglossary-payment) system.  We can debate the utility of most as a [medium of exchange](https://leofinance.io/@leoglossary/leoglossary-medium-of-exchange) but, in terms of the mechanics, it already exists.  There is no need for Twitter in this equation.  Blockchains by their nature are [ledger](https://leofinance.io/@leoglossary/leoglossary-ledger) based systems that allow for the global transfer of value.

And, unlike [Elon Musk](https://leofinance.io/@leoglossary/leoglossary-elon-musk), no regulatory approval is required.

[Bitcoin](https://leofinance.io/@leoglossary/leoglossary-bitcoin) has been offering the opportunity to make payments since 2009 and the [genesis block](https://leofinance.io/@leoglossary/leoglossary-genesis-block).  Since that time, value was sent from one wallet to the next.  Each [transaction](https://leofinance.io/@leoglossary/leoglossary-transaction) is noted in the ledger, keeping track of all monetary [balances](https://leofinance.io/@leoglossary/leoglossary-balance).  

Naturally, we can say the same about Hive.  The difference between what is existing here versus [Twitter](https://leofinance.io/@leoglossary/leoglossary-twitter) is the fact that we are implementing a system without direct [transaction fees](https://leofinance.io/@leoglossary/leoglossary-transaction-fee).  Musk is looking to increase his [revenues](https://leofinance.io/@leoglossary/leoglossary-revenue) by accessing the estimated $1.7 trillion generated for payment processors. 

In other words, he wants a piece of the action.

## Focus Upon Finance

One of the reasons why we cover the financial aspect of things so much on here is because of the numbers.  As stated, it is clear what Wall Street values.  When it comes to a [payment](https://leofinance.io/@leoglossary/leoglossary-payment) system, in terms of the technology, there is little that can surpass Hive.  We are seeing architecture design which could make this one of the most power money transfer systems in the world.  If the goal of running the entire network on a personal computer is realized, we are facing a game changer.

Imagine the ability to litter the world with thousands of payment [nodes](https://leofinance.io/@leoglossary/leoglossary-node), in every country there is.  This would create something that basically removed the vulnerabilities of [government](https://leofinance.io/@leoglossary/leoglossary-government).

Ultimately, this is all a forerunner into [decentralized finance (DeFi)](https://leofinance.io/@leoglossary/leoglossary-decentralized-finance-defi).  This is not something that Musk can ever hope to offer although I believe he will dive deeper into the [financial](https://leofinance.io/@leoglossary/leoglossary-finance) arena with Twitter.  We are looking at just the first step in a larger process.

However, his system will be controlled and adhere to [regulation](https://leofinance.io/@leoglossary/leoglossary-regulation).  That is the world he operates in.  Those who believe he is concerned with [Web 3.0](https://leofinance.io/@leoglossary/leoglossary-regulation) are mistaken.  Musk doesn't care nor is he interested.  He does well in the existing system and has plans to do even better.

Regardless of what Musk builds, it will still be exclusionary.  There is no way a regulated system is going to involve everyone.  At the same time, it is, by default, an extractive platform.  Musk and the other partners in Twitter are looking to extract value from the project and place it in their pockets.

In short, we are not looking at a novel idea.  Instead, it is just changing the players dominating the game.

Hive, on the other hand, is a completely new game.

___
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