Twitter Sets up Dedicated Team to Focus on Cryptocurrency and Decentralized Apps – Featured Bitcoin News

Twitter has arrange a crew to give attention to “crypto, blockchains, and other decentralized technologies — including and going beyond cryptocurrencies.” Initially, the crew will discover the way it can “support the growing interest among creators to use decentralized apps to manage virtual goods and currencies, and to support their work and communities.”

Twitter to Focus on Crypto, Blockchain, and Decentralized Apps

Twitter has established a devoted crypto-focused crew led by Tess Rinearson. She defined Wednesday that the “new team [is] focused on crypto, blockchains, and other decentralized technologies — including and going beyond cryptocurrencies.”

Twitter stated:

We’re exploring methods to include decentralized applied sciences into our merchandise and infrastructure.

Initially, the corporate will discover funds, methods for people creating content material to earn crypto, and the “decentralization of social media.”

Rinearson emphasised that “Twitter truly ‘gets’ crypto,” referencing the corporate’s bitcoin tipping and non-fungible token (NFT) initiatives. “But there’s so much more to explore here,” she added.

“As I build out the team, we’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto,” she continued, elaborating:

First, we’ll be exploring how we will assist the rising curiosity amongst creators to make use of decentralized apps [dapps] to handle digital items and currencies, and to assist their work and communities.

In the longer term, the crew will discover “how ideas from crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more,” the crypto unit lead detailed.

Rinearson famous that her crew shall be working carefully with the Bluesky crew “to help shape the future of decentralized social media.” Bluesky is a decentralized social community undertaking funded by Twitter.

She concluded:

Twitter Crypto will underpin all of this work, and function a ‘center of excellence’ for all issues blockchain at Twitter. We’ll be hiring for roles in engineering and product.

Twitter’s CEO, Jack Dorsey, is a longtime bitcoin supporter. He just lately stated that his different firm, Square Inc., is concentrated on serving to bitcoin develop into the native forex for the web. He outlined plenty of initiatives which might be centered on serving to bitcoin attain a mainstream viewers whereas on the identical time strengthening the community and ecosystem.

One of the initiatives, Cash App, generated $1.82 billion of bitcoin income and $42 million of bitcoin gross revenue in the course of the third quarter of 2021.

What do you consider Twitter’s plan for the brand new crew? Let us know within the feedback part under.

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