Binance founder CZ spoke at the "Virtual Fireside Chat: CZ" session at Token2049 in Singapore, stating: "I hope to see a blockchain-based social media platform, because today we only have Twitter, and we are all heavy Twitter users. So this application can be developed based on blockchain, and we can handle various problems, such as spam, fraud, and identity verification.

However, most blockchains may not be able to handle the large amount of data generated by Twitter interactions and events. But now with Layer 2 and other technologies, I think we are only one step away from achieving this goal."