07/06/2025
Elon Musk has announced that the new X messaging service is built on “Rust with (Bitcoin style) encryption,” claiming it will offer enhanced security for X DM users. However, this claim is confusing, as Bitcoin transactions are not encrypted but rather transparent on the blockchain, a feature central to its decentralized nature.
Despite the misstep in his description of Bitcoin, Musk’s new messaging framework seems to be a step towards building a more robust system for X Payments, with hopes of integrating it into the platform’s broader functionality. This update could potentially make X an all-in-one platform for payments, messaging, and transactions, similar to WeChat’s role in China. X plans to launch X Payments later this year, aiming to allow users to transfer money, make purchases, and possibly replace traditional banking.
Musk’s vision of an "everything app" faces significant challenges, especially in the Western market, where previous attempts at creating an all-encompassing platform have faltered. While X's user base is smaller than other major social apps and declining, Musk’s background in the payments industry may provide the insight needed to make it more appealing. However, it remains uncertain whether the platform will gain enough traction to succeed.
The updated version of XChat is set to roll out to X Premium subscribers this week, unless there are scaling issues.
