Dogecoin payments built-in by billionaire Elon Musk into any of his firms have been a scorching subject of dialogue for quite a few years now. With Musk ultimately taking on Twitter and rebranding it to X, expectations had been that DOGE funds on the social media platform could be occurring quickly. Whereas that is but to come back, there are clues that time to Musk presumably getting ready to combine DOGE funds, as group members have identified.
Musk Builds Out Customized Dogecoin Fee System For Tesla
Tesla, one in all Musk’s companies, in 2021 had applied Bitcoin funds for its electrical autos earlier than halting the function shortly after. Since then, the corporate has not accepted crypto funds for its autos but it surely has applied crypto funds for merchandize and that crypto was Dogecoin.
Following the mixing of Dogecoin payments, one group member who goes by @Dogecoin_Wins took to X (previously Twitter) to share a very fascinating reality about how the corporate selected to go about this implementation. They notice that as a substitute of the automotive producer going the identical method as different firms who used a third-party service to implement crypto funds, Elon Musk-led Tesla had truly constructed out its personal DOGE-only payment system.
This fee system based mostly totally on the blockchain is critical in the truth that it’s no small feat. Because the Dogecoin community member factors out, Musk would’ve needed to rent quite a few workers together with “blockchain experts, devs, security pros.” Not solely this, there’s additionally the difficulty of hiring “customer service agents who know how to work within the blockchain for refunds, and field more complicated questions than what CS agents are used to.”
All in all, the corporate would’ve needed to have spent a major quantity of sources to construct out this infrastructure. The group member places the determine for this round 7 figures. Now, for a corporation the size of Tesla, constructing out such an costly and time-consuming infrastructure as a substitute of utilizing a 3rd social gathering might level to the truth that they intend to proceed to make use of the product, and never only for merchandise alone. Given this, the group member concludes that “Elon’s serious about Doge.”
DOGE value drops to $0.081 | Supply: DOGEUSD on Tradingview.com
Why Construct A DOGE-Solely Fee Infrastructure?
In a follow-up post, the Dogecoin group member shared their very own beliefs about why Tesla constructed out this infrastructure. In accordance with them, this was not only for Tesla merchandise funds. Somewhat, the primary cause is that the corporate wished to construct its personal native Dogecoin payment processor.
Subsequent, they state that the corporate can be making an attempt to coach its personal customer support workforce in particular blockchain expertise. Additionally, they wish to study the widespread issues that might include accepting a cryptocurrency like Dogecoin for payments.
The fourth cause outlined is that the corporate is making an attempt to study and give you options to issues that might come up from crypto funds. The fifth is that they’re making an attempt to do all of this “with a limited selection of low volume/low priced/low risk merchandise sales.”
@Dogecoin_Wins closes out the thread with a succinct assertion:
It’s a lot simpler to undergo this studying course of promoting $20 espresso mugs than $80,000 automobiles. Understanding that, the true intent of investing all this effort is to not promote espresso mugs and belt buckles. It’s to promote automobiles, ultimately.
