Twitter’s crypto team’s aim is to invest in decentralized tech.
Twitter has formed a new team to collaborate with cryptocurrencies and blockchain, according to a press release on Wednesday. The firm stressed that it wants to “discover what crypto can accomplish for Twitter” and that it will increase its investment in decentralized technology.
Twitter’s crypto team is willing to listen to user opinions
The creation of the new team was first reported on Twitter by Tess Rinearson, who has been hired to lead it. Rinearson said that while cryptocurrencies like bitcoin and NFTs are becoming more relevant to Twitter, the company wants to go much farther with decentralized technologies.
“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.”
According to Rinearson, the organization behind the social network will start by looking into how to help developers interested in decentralized apps for managing virtual goods and currencies. In addition, Twitter’s new head of cryptocurrency said that the platform is willing to listen to user opinions on how it may enhance its platform in this area.
In September, Twitter product head Kayvon Beykpour confirmed a claim about the company adopting Bitcoin payments in its Tip Jar. At the same time, Twitter CEO Jack Dorsey is open about his enthusiasm for Bitcoin and other digital currencies.
I’m thrilled to share that I’ve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologies—including and going beyond cryptocurrencies.✨ pic.twitter.com/HaP0k5hUOq
— Tess Rinearson (@_tessr) November 10, 2021
It’s unclear when Twitter’s first cryptocurrency and blockchain-related initiatives will be officially announced, but we’ll probably learn more about them soon.