Hassan Maishera
Twitter Established A Crypto Team
Twitter has set up a new team dedicated to cryptocurrencies as the social media giant plans to incorporate decentralized technology into its platform. This is according to a report by The Financial Times yesterday.
According to the report, Twitter has hired Tess Rinearson to be its crypto engineering lead. She took to Twitter to discuss some of her plans for the social media giant. Rinearson revealed that Twitter would start by growing decentralized apps (DApps) for creators to manage virtual goods. Twitter will also develop currencies and ways for its fans to support their community.
In the future, the Twitter team will look to cryptocurrency technology to augment identity, community and ownership on the social media platform. She stated that;
“First, we’ll be exploring how we can support the growing interest among creators to use decentralized apps to manage virtual goods and currencies and to support their work and communities. Looking farther ahead, we’ll be exploring how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more.”
Furthermore, Rinearson’s team will collaborate with Blue Sky, Twitter’s subscription-based service, to help shape the future of decentralized social media. Twitter has been one of the most active social media companies in the cryptocurrency space.
Jack Dorsey has always made it clear that he is a Bitcoin fan and has been developing services centered on the leading cryptocurrency. A few weeks ago, the social media giant implemented a method to tip creators with bitcoin via the Lightning network.
Dorsey has maintained that he doesn’t care about other cryptocurrencies asides from Bitcoin. He pointed out on numerous occasions that Twitter will build a decentralized finance service on the Bitcoin blockchain. Dorsey is also working on launching a Bitcoin hardware wallet that would be easy for both retail and institutional investors to use.
