Twitter is building a team to deal with cryptocurrencies, blockchain and so-called decentralized apps. That’s because the microblogging service wants to integrate digital currencies into its network. Meanwhile, crypto expert Tess Rinearson is to take over as head of Twitter Crypto.
Tesla CEO Elon Musk is a big fan of cryptocurrencies. For many, he is considered a kind of guru or something like the clammy crypto king. Especially via Twitter, Musk likes to comment on current events around digital currencies such as Bitcoin, Ethereum, Dogecoin and Co.
It sometimes happens that the statements of the Tesla CEO influence the price development. Numerous users follow his advice or recognize hidden hints in his tweets. But many users criticize Musk’s behavior and accuse him of abusing his power.
Now Twitter founder Jack Dorsey also seems to have taken an increasing liking to the crypto world. He now regularly makes public statements about crypto events. Is he now even pushing Elon Musk from the virtual crypto throne?
Twitter Crypto: Team for cryptocurrencies, blockchain and co.
Twitter CEO Jack Dorsey is known for following his words with immediate action. Time and again, the avowed Bitcoin fan has hinted at integrating cryptocurrencies at Twitter. Previously, he has already established the Bitcoin in his payment company Square.
According to consistent media reports, Twitter is now building its own team to deal with cryptocurrencies, blockchain technologies and so-called decentralized apps (dApps). Crypto expert Tess Rinearson is to head the working group, which will be called Twitter Crypto.
Twitter users can tip in cryptocurrencies
Just two months ago, Twitter announced that users would be able to pay with cryptocurrencies when using the tip function. Since then, selected Twitter users have also had the option of storing a Bitcoin address in their profile.
Even then, the social network announced further steps in terms of cryptocurrencies and blockchain. Under the leadership of software developer Tess Rinearson, Jack Dorsey now wants to take the next step in this direction with Twitter Crypto.
The new working group is reportedly to establish decentralized standards for social media. With the help of blockchain, dApps and other decentralized technologies, Twitter wants to integrate further payment and monetization options into its network.
The new team is to develop a long-term strategy with a view to digital payment options via cryptocurrencies.
Twitter pushes into the crypto world
After Tesla CEO Elon Musk wanted to establish bitcoin as a means of payment at Tesla in early 2021, he backed out a short time later. Musk cited climate protection reasons and the high electricity consumption in the production of the means of payment – known as mining – as the reason.
Twitter founder Jack Dorsey, on the other hand, is currently venturing into the crypto world with Twitter Crypto. Dorsey’s plan is apparently to develop a decentralized exchange for cryptocurrencies like bitcoin.