Crypto has made another breakthrough after an announcement by social media giant, Twitter. Twitter made an announcement that it has finally launched a new crypto team. The team will be led by Tess Rinearson who has worked in blockchain for some years now. Twitter has been working to create a crypto team and continues to hire more personnel.
The team’s main focus will be blockchain and decentralized technologies. It will also support creators through decentralized apps. The team is also set to work in collaboration with blue sky. They will do research on news ways to decentralize social media.
” As I build out a team, we’ll be working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto”read a tweet from Rinearson about the new development.
The team is likely to look for new ways to decentralize Twitter as well. This is through hosting it on a blockchain network instead of different servers. Twitter has been in the past using servers hosted by Amazon Web services (AWS). Moving into blockchain networks will give users more authority over their data and terms of privacy.
Twitter has been in the limelight with cryptocurrencies over the years. This was because of a tweet by Elon musk that saw the prices of cryptocurrencies go up. The social media giant realized its importance when it came to cryptocurrencies. It decided to use this to its advantage and it has paid off.
The team is also set to work with communities to help push the boundaries of what’s possible with identity, community, ownership, and more. The team will also be tasked with exploring crypto payments and NFT sales for creators.
Twitter is not the only company that has shown interest in cryptocurrencies. Companies like Reddit have been seen hiring engineers for an NFT community. Discord on the other hand hinted about partnering with metatask.
Twitter working on a crypto team will make more people believe in cryptocurrencies.