Twitter officially launches Twitter Crypto

After the introduction of the Bitcoin limit function along with the NFT drop, Twitter went one step further with the official announcement of the founding of Twitter Crypto.

Twitter introduces Twitter Crypto

The team will be called Twitter Crypto and the woman in question is Tess Rinearson, who previously worked at the payment service provider Interstellar and also at Tendermint, where she helped develop the Tendermint consensus engine.

According to an exclusive Twitter thread by Tess Rinearson, head of the Twitter crypto team, the initiative is intended to serve as a “Center of Excellence” for everything to do with blockchain on Twitter. She noted that the team will not only focus on cryptocurrencies, but will extend their reach “beyond crypto” and work to expand and improve crypto, blockchain and other decentralized technologies on Twitter.

Crypto Twitter’s plan

While Rinearson claims that Twitter is actually “getting” crypto by highlighting earlier advances in Bitcoin and NFT, she also claims that there are several other levels to explore and new pools of cryptocurrencies that Twitter can do for crypto. “From the effort From the creator of using the decentralized field to increase their interest through NFTs and cryptocurrencies, to including the community perspective on ownership and identity, Twitter’s goal is to push the boundaries of the decentralized industry on its platform . Additionally, the Crypto team will work with the Blue Sky team to bring social media up to date in the future of decentralization.

“First, we’re going to examine how we can support the growing interest of developers in using decentralized applications to manage virtual goods and currencies while supporting the public sector. Their work and communities … Looking beyond that, we’ll examine how ideas from crypto communities are possible. ” help us to push the boundaries of what is possible with identity, community and ownership. And of course, we’ll be working closely with the Blue Sky team to help shape the future of decentralized social media (and make sure Twitter stays at the forefront of that new landscape). !) “, according to Tess Rinearson’s Twitter thread.

She added:

The Rinearson team is also tasked with “building the future of decentralized social media”.

Twitter Crypto will implement all of Dorsey’s ideas and plans

In fact, the latest announcement is part of founder Jack Dorsey’s concerted and consistent efforts to create a crypto-focused core business unit. This is how Twitter got to its current location:

In 2019, Square Crypto from Twitter boss Dorsey hired its first crypto insider – former Google product manager Steve Lee.

Rinearson spoke of “decentralized social media” – an idea Dorsey has been pursuing since December 2019 when he started the Bluesky project.

Buying Bitcoin (BTC) has also become a strategy for the company – not surprising when you consider how Dorsey has been vocal about his confidence in BTC. Last year, Square bought $ 50 million worth of coins.

There was an explosion in activity in February and July 2021: First, Dorsey and rap megastar and entrepreneur Jay-Z announced that they were raising 500 BTC to fund the development of BTC.

The Massachusetts Institute of Technology (MIT) later revealed plans to fund the development of BTC – with Dorsey among the superstar investors who raised $ 4 million initially.

In July of this year, Square confirmed that it had attempted to build a Bitcoin hardware wallet to “make Bitcoin custody more popular”.

Also in July, Dorsey told investors that BTC will be a “big part” of the company’s future and stated that he plans to incorporate the cryptocurrency into existing products and services.

Decentralized finance (DeFi) was also discussed that same month, with Dorsey announcing a new business group that will “focus on building an open developer platform with the sole goal of keeping it that way.” unsupervised, permissionless and decentralized financial services. “

In August, the Twitter boss found a potential Bluesky customer and consolidated his Square hardware wallet team.

And last month, Twitter announced its Tips feature, which uses Strike-developed Lightning Network solutions that allow users to share BTC “tips” with one another.

Rinearson added:

“Twitter Crypto will underpin all of this work and serve as a ‘Hub of Excellence’ for blockchain everything on Twitter.”

She also urged crypto experts eager to partner with Twitter to continue, writing, “We will be recruiting for technical and product roles. If that sounds interesting, please get in touch! ”

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