Twitter Establishes Dedicated Team to Focus on Cryptocurrency and Decentralized Apps –

Twitter has assembled a team focused on “crypto, blockchains, and other decentralized technologies – including and beyond cryptocurrencies.” First, the team will explore how it can “support developers’ growing interest in using decentralized apps to manage virtual assets and currencies and support their work and communities.”

Twitter focuses on crypto, blockchain and decentralized apps

Twitter has created a dedicated crypto-focused team led by Tess Rinearson. She explained on Wednesday 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.

Initially, the company will explore payments, opportunities for people creating content to earn crypto, and the “decentralization of social media.”

Rinearson emphasized that “Twitter really ‘gets’ crypto,” pointing to the company’s Bitcoin tipping and non-fungible token (NFT) projects. “But there is so much more to discover here,” she added.

“As I build the team, we will be working on figuring out what crypto can do for Twitter and what Twitter can do for crypto,” she continued, explaining:

First, we will explore how we can support the growing interest among developers in using decentralized apps [dapps] to manage virtual assets and currencies and support their work and communities.

In the future, the team will explore “how ideas from crypto communities can help us push the boundaries of what is possible with identity, community, ownership and more,” explained the head of the crypto unit.

Rinarson noted that her team will work closely with the Bluesky team “to help shape the future of decentralized social media.” Bluesky is a decentralized social network project funded by Twitter.

She concluded:

Twitter Crypto will underpin all of this work and serve as a “center of excellence” for all things blockchain at Twitter. We will be hiring for engineering and product roles.

Twitter CEO Jack Dorsey is a long-time Bitcoin supporter. He recently said that his other company, Square Inc., is focused on helping Bitcoin National currency for the Internet. He outlined a number of initiatives aimed at helping Bitcoin reach a mainstream audience while strengthening the network and ecosystem.

One of the initiatives, Cash App, generated $1.82 billion in Bitcoin sales and $42 million in Bitcoin gross profit in Q3 2021.

What do you think of Twitter's plan for the new team? Let us know in the comments section below.

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