• Elon Musk acquired the Twitter handle @X without paying the original user.
• This sparked a substantial wave of criticism from the crypto community, mainly because of centralization issues.
• The original user was Gene X. Hwang, co-founder of photo firm Orange Photography, who had owned it for over 16 years until Twitter’s rebranding brought it into the limelight.
Elon Musk Acquires Twitter Handle ‚X‘
Elon Musk has reportedly taken control of the @X account on Twitter without remunerating the original user who held this username for over 16 years. Gene X. Hwang, co-founder of photo firm Orange Photography, had owned this account for more than a decade until Twitter’s rebranding brought it into the limelight. On Tuesday, Hwang confirmed that neither Musk nor Twitter had made contact with him, but by Wednesday, the account was evidently under Musk’s control as he posted from it briefly.
Criticism From Crypto Community
The move has sparked widespread criticism from within the crypto community and discussion on decentralization and Web3 social network alternatives due to its implications concerning centralization and lack of monetary exchange between Musk and Hwang in regard to taking over ownership of @X.
Hwang released a brief statement on his new account (@x12345678998765), posting “All’s well that ends well”. This appears to suggest that no payment occurred in exchange for his relinquishing of rights to his previous username despite speculation otherwise prior to being overtaken by Musk himself.
Musk’s takeover has reignited debate surrounding decentralization and raised questions about social networks moving towards Web3 models dependent upon blockchain technology instead of traditional centralized services like those currently employed by most major networking sites such as Facebook or Twitter.
In conclusion, while Elon Musk now owns @X on Twitter without any form of monetary or other compensation given to its former owner Gene X Hwang there is an ongoing discussion surrounding decentralization and possible Web3 social network alternatives which could render centralized services like Twitter redundant in future years ahead if they are adopted widely enough long term..