Twitter sets up committed team to concentrate on cryptocurrency and decentralized apps -
Twitter sets up committed team to concentrate on cryptocurrency and decentralized apps -
Twitter has put together a team that focuses on "crypto, blockchains and other decentralized technologies - including and beyond cryptocurrencies". First, the team will examine how "the growing interest of the developers can support decentralized apps to manage virtual goods and currencies and to support their work and communities".
Twitter focuses on crypto, blockchain and decentralized apps
Twitter has set up a dedicated cryptofocussed team under the direction of Tess Rinearson. On Wednesday, she explained that the "new team" [IS] focused on crypto, blockchains and other decentralized technologies - including and beyond cryptocurrencies. "
Twitter said:
We are looking for ways to integrate decentralized technologies into our products and infrastructure.
First, the company will pay payments, opportunities for people who create content to earn crypto and examine the "decentralization of social media".
rinearson emphasized that "Twitter crypto really" gets' "and referred to the Bitcoin tipping and non-fungable token (NFT) projects. "But there is so much more to discover here," she added.
"While I build the team, we will work out what crypto can do for Twitter and what Twitter can do for crypto," she continued and explained:
First of all, we will examine how we can support the growing interest of developers in the use of decentralized apps [DAPPS] to manage virtual goods and currencies and support their work and communities.
In the future, the team will investigate "how ideas from crypto communities can help us to shift the limits of what is possible with identity, community, property and more," explained the head of the crypto unit.
rinson found that their team will work closely with the Bluesky team to “help shape the future of decentralized social media”. Bluesky is a decentralized social network project that is financed by Twitter.
she closed:
Twitter crypto will underpin all this work and serve as a “competence center” for all things about the blockchain on Twitter. We will set technology and product for areas.
The CEO of Twitter, Jack Dorsey, is a long-time Bitcoin supporter. He recently said that his other company, Square Inc., focuses on helping to help Bitcoin, the state currency for that Internet . He outlined a number of initiatives that are geared to help Bitcoin reaching a mainstream audience and at the same time strengthening the network and the ecosystem.
One of the initiatives, cash app, created $ 1.82 billion in Bitcoin sales and $ 42 million in Bitcoin gross profit in the third quarter of 2021.
What do you think of Twitter's plan for the new team? Let us know in the comment area below.
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