Twitter has announced they plans will launch a dedicated crypto team in order to investigate decentralized app.
Twitter Crypto, the new team, is not confusing for everyday crypto. Tess Rinearson set to lead the new team. Then, she assigns the responsibility of creating “strategy and direction for the future (and/or) Twitter crypto,” according to reports.
Dorsey, an avid bitcoin enthusiast, has said for years that he hopes to incorporate the digital asset in the future of Twitter. He introduce bitcoin support to Square two years ago. And then, Twitter announced that they had created a new tool to allow users to tip each other using bitcoin.
It also stated working on a feature that would verify non-fungible tokens. A digital collection that has gained popularity over the past year. Therefore, many Twitter users use it to create their profile pictures.
“I am happy to share that I have joined Twitter, to lead a new team focused on crypto, blockchain and other decentralized technologies–including and beyond cryptocurrencies,” Rinearson tweeted.
What Is Twitter Crypto Decentralized App Exactly?
Twitter Crypto is, according to the company, all about decentralizing Social Media and even allowing content creators earn crypto from other Users.
Twitter claimed that the team is looking into ways to incorporate decentralized technologies into products and infrastructure. The team is also poised to be a “center for excellence in all things blockchain-related Web3.
The web3 ecosystem is different. It uses a public blockchain to run decentralized applications, any one party does not store which mean data. Furthermore, token-based rewards can offer to users for participating.
Reddit, Discord and many other social media platforms are available alongside Twitter. Therefore, they have hinted that they are looking at ways to integrate with other decentralized apps and include web3 concepts in their platform.
Jack Dorsey (CEO) running Twitter, who is a big fan of Bitcoin. Square, another Dorsey-owned company, recently announced they were exploring the possibility of building a Bitcoin ETF mining debut in Australia using hardware.
It’s the latest in a long string of movement era Bitcoin ETF. Square is The cash app has quickly become a popular method to buy Bitcoins. In the summer, Square announced plans for a new type of decentralized exchange with a strong focus on Bitcoin.
Twitter’s announcement coincides with a number of new calls to social media to decentralize.
Social Media and Decentralized App
Twitter’s announcement marks the latest in a long string of calls to decentralize social media.
Earlier this week, Reddit and Solanafounderannounced a $100 million initiative for Web 3 social media technology. The announcement makes during the Solana Breakpoint conference held in Lisbon, Portugal.
Reddit Co-Founders Join Solana Ventures to Launch a $100M Social Media Initiative.
“I do require to be freed form centralized social networks, I want out Twitter and i have a gift for anyone who helps to remove my account form that centralized service,”
Raj Gokal
He might change his mind.
