Twitter has a "crypto team" that it has recently formed, and the group would focus on handling everything related to digital currency, particularly with payments, NFTs, blockchains, and more. However, it remains unknown if Twitter would go on to create its cryptocurrency in the coming months, especially as it is a social media platform that has its community and users.
Twitter 'Crypto Team': What Are They Here For?
Twitter app
Twitter has seen the tweets of one Tess Rinearson, the new engineering head that joined "Twitter Crypto" on the team that it has formed regarding this new venture. Her announcement on social media, along with an accompanying video that shows the words "Twitter Crypto", says a lot about the next project of the company with regards to everything digital.
Rinearson said that the team would look into how crypto would help Twitter as a platform, and vice versa. The team would focus on cryptocurrency, blockchains, and other decentralized technologies, focusing also on the improvement it would have in the coming developments.
The new leader of the team has also mentioned bitcoin tipping, a known process of using the leading cryptocurrency in giving incentives to favorite influencers or figures.
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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. Twitter truly “gets” crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore here.
— Tess Rinearson (@_tessr) November 10, 2021
Twitter 'Crypto' Focuses on Decentralized Tech
Decentralized technology like cryptocurrency and NFTs will be the new focus of Twitter Crypto and while there are no announcements to establishing their coin, it already is a massive move for them. It is worth noting that Twitter is one of the earliest social media platforms that border on cryptocurrency, a feat not as much known with the Big Tech.
Twitter, Cryptocurrency, and Jack Dorsey
Twitter has been long stirred into the conversation of cryptocurrency because of none other than its CEO and co-founder Jack Dorsey that has spoken a great deal about digital currency. It can be seen that Dorsey's single word bio on social media is "#bitcoin" which also has the "hash flag" of the cryptocurrency logo.
This only shows that Dorsey and Twitter are on the verge of joining the cryptocurrency hype, focusing more on accepting bitcoin payments for Ticketed Spaces, a content creator's tool to help them earn. Other premium items in Twitter will follow the use of blockchain technology, particularly those that involve payment like premium Super Follows, and more.
Dorsey has also expressed his fondness for Bitcoin over the months, saying that the leading cryptocurrency is the "key to the future," with different ventures focusing on the innovations concerning it. Square is another subsidiary of Twitter that focuses on cryptocurrency, and a lot of its ventures concern the adaptation of the digital currency but has unknown ventures yet.
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Written by Isaiah Richard
