Twitter has outlined plans to deepen its cryptocurrency space and announced the formation of a dedicated team dedicated to blockchain applications and Web3. A new team, also known as “Twitter Crypto”, will study all content on Web3 and blockchain.
Dive into the cryptocurrency space
The creation of a team focused on blockchain and Web3 shows that Twitter has decided to explore a new cryptocurrency space. “Twitter Crypto” aims to be central to blockchain and Web3, including more and more decentralized applications (dApps) running on public blockchains.
Twitter has hired Tess Rinearson to handle the project, and she will work under the guidance of CTO Parag Agarwal. Linearson talked about the progress on Twitter and shared his excitement about this opportunity.
“We are excited to join Twitter to lead a new team focused on cryptocurrencies, blockchain and other decentralized technologies, including cryptocurrencies.”
Prior experience with decentralized technology
Prior to joining Twitter and the “Twitter Crypto” collaboration, Rinearson worked with Interchain, which developed a decentralized technology. Linearson is also working with Interstellar, a decentralized exchange and digital currency wallet. In addition to being responsible for the Twitter cryptocurrency, Linearson will work with Bluesky. Bluesky is Twitter’s engineering team dedicated to building decentralized social media systems.
Large enterprises are now exploring ways to grow with Web3, a new version of the Internet version. Unlike the current version of Internet Web2, Web3 runs on a public blockchain and is fully decentralized.
bet on bitcoin
After CEO Jack Dorsey saw Bitcoin as the future, Twitter moved to blockchain and Web3. Dorsey said that’s why Square and Twitter started researching Bitcoin. Dorsey shared his thoughts at the Bitcoin 2021 conference.
“Bitcoin completely changed everything. I don’t think there is anything more important in my life than this.”
Twitter enters digital asset space
In recent months, both Twitter and Square have announced several advancements in the digital asset ecosystem. Twitter has started allowing users in certain regions to tip using Bitcoin. This is before we propose broader social media adoption. Twitter also added that soon users will be able to check non-fungible tokens (NFTs) on social media platforms.
Dorsey also outlined plans for an open platform to create a decentralized Bitcoin exchange via TBD, which is part of Square. There are also plans to create an easy-to-use bitcoin mining device.
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