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Twitter Creates A Crypto Team To Explore Decentralized Apps

Social media companies are scaling their efforts to immerse their platforms with blockchain technology. Earlier today, Twitter revealed that it is forming a team dedicated to exploring decentralized applications. Many know Jack Dorsey as a Bitcoin maximalist. However, this is only the first time his company has invested in the surrounding blockchain ecosystem.

Twitter’s Crypto Team

Tess Rinearson announced Twitter’s new team earlier today, revealing herself as the leader. She said that the team would focus on decentralized technologies that go “beyond cryptocurrencies”.

“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,” said Rinearson. “Twitter truly “gets” crypto (hello bitcoin tipping & NFTs!) but there’s so much more to explore here.”

As she mentioned, this isn’t the first time that Twitter has ventured into cryptocurrency. In September, the platform launched its tipping service which allows users to pay other wallet holders in Bitcoin. Right now, only Americans and Salvadorans have access to the service.

Rinearson elaborated that the team would support creators that are managing virtual goods and currencies using “decentralized apps”. Interestingly, the team will also work with Bluesky to develop a decentralized social media solution.

This concept has been popular for years, but no projects of that nature have gained any meaningful traction thus far. Twitter’s CEO himself has been accused of unfairly and biasedly censoring content on his own platform. Therefore, a decentralized platform from the man himself could be the solution.

Jack Dorsey: Bids reach $2.5m for Twitter co-founder's first post - BBC News
Jack Dorsey. Source: BBC

A Non-Bitcoin Project?

Jack Dorsey has shown tremendous enthusiasm over Bitcoin in the past, calling its development his life’s most important work. He’s even begun considering work on a global Bitcoin mining system, to make crypto mining accessible to regular people. Meanwhile, he and his companies have shown remarkably little interest in the broader blockchain ecosystems – until today.

The billionaire has taken a different approach with Square – his financial services company. When asked whether the company would work on Defi, NFT, or altcoin services, he responded with a firm no.

“We’re not,” he said, “Our focus is on helping Bitcoin to become the native currency for the internet. We have a number of initiatives towards that goal – CashApp is just one.”

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Twitter now joins Reddit and Discord as online communication platforms engaging with the broader blockchain world. The latter has confirmed that it would be integrating NFTs into its services.

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