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| Twitter is building a crypto team called Twitter Crypto |
Twitter Inc said in a statement that it is creating a new division called Twitter Crypto for all content related to blockchain technology and has appointed Tess Renerson as the team’s chief engineering officer to provide cryptocurrency development for the entire platform. Develop a strategy for the future.
“We are first looking at how to support the growing interest of content creators using DApps to manage virtual goods and currencies, and support their jobs and communities,” Renerson said on Twitter.
“Looking into the future, we are examining how ideas from the crypto community can help us unlock the potential of identity, community, ownership, and so forth.”
She stated that her team is working closely with Bluesky, an independent project funded by Twitter that aims to create a decentralized standard for social networks.
The company said Renerson is working under the direction of the company's chief technology officer, Paraj Agrawal, to assist the team it's hiring in promoting social media decentralization on Twitter.
The company said that content creators are increasingly keen on using decentralized applications to manage virtual goods and currencies.
Renerson focuses on these topics and his long-term goal is to explore how ideas of cryptography can help push the boundaries of identity, community, and more.
In September, the company announced that it would allow content creators on its platform to push bitcoin tips. The company said it is exploring other features of crypto payments, such as paid rooms. This is because not everyone is willing or able to accept traditional currencies.
Decentralization allows social media platforms to operate independently via the blockchain instead of running on servers hosted by companies like Amazon.
These decentralized networks give individual users more control over data and privacy.
Discover decentralized applications
Twitter CEO Jack Dorsey is also the CEO of the financial services company Square. A strong supporter of cryptocurrencies, especially bitcoin.
In addition, he was displaying a Bitcoin watch when he testified before Congress in March. In July, he opened a new Bitcoin business unit called TBD in Square.
Twitter is not the only major social platform exploring blockchain technology. Discord said it has been integrated with popular crypto wallet service MetaMask. Meanwhile, Reddit is recruiting engineers for the NFT platform.