TWITTER ANNOUNCES NEW 'CRYPTO' DIVISION TO 'PUSH THE BOUNDARIES OF WHAT'S POSSIBLE'
Twitter is building a new division called Twitter Crypto to develop digital currencies, blockchain technology, and “other decentralised technologies”, it has announced. The news comes from Tess Rinearson, the team's engineering lead, via a thread on the platform.
Twitter said it is creating a new section covering everything related to blockchain technology on Twitter.
The new division will be called Twitter Crypto, and Tess Rinearson has been appointed to lead the team.
The company said the division's mission is to strategize for the future of crypto at Twitter.
“We will first explore how we can support the growing interest among content creators by using DApps to manage virtual goods and currencies, and support their work and communities,” Renerson said on Twitter.
Twitter launches dedicated cryptocurrency team, as part of its push towards decentralization
"Then we'll explore how ideas from the crypto community can help us push the boundaries of what's possible through identity, community, ownership, and more."
She stated that her team will work closely with Bluesky, an independent effort funded by Twitter, to create a decentralized social network standard.
The company said Renerson will work under the supervision of Twitter's chief technology officer Parag Agrawal, and their team will help push Twitter toward decentralizing social media.
In September, Twitter announced that it would enable creators on its platform to tip in bitcoin.
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The company also said it will explore crypto payments for other features such as Ticketed Spaces.
Jack Dorsey, the CEO of Twitter, who is also the CEO of the financial services company Square, has been a strong supporter of digital currencies, especially Bitcoin.