Twitter creates crypto team to focus on blockchain

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The microblogging site Twitter is building a new division for “everything blockchain-related on Twitter,” called Twitter Crypto.

The company hired Tess Rinearson as the technical lead for the team to “set the strategy for the future of crypto on (and on) Twitter,” reported The Verge.

“First, we’ll explore how we can support the growing interest of creators in using decentralized applications to manage virtual goods and currencies and to support their work and communities,” Rinearson said on Twitter.

“Looking further, we’ll explore how ideas from crypto communities can help us push the boundaries of what is possible with identity, community, ownership and more,” she added.

Rinearson said his team will work closely with Bluesky, an independent effort funded by Twitter to create a decentralized social media standard.

Rinearson will work under the direction of Parag Agrawal, chief technology officer of Twitter, and their team that will be hired will help push Twitter towards decentralization of social media, the company said.

According to the company, there is “a massive and growing interest among creators to use decentralized applications to manage virtual goods and currencies,” and Rinearson will focus on these issues, “with a long-term goal of exploring how Crypto ideas can help us push the boundaries of what is possible with identity, community and more. “

In September, Twitter announced that it was allowing the creators of its platform to receive tips in Bitcoin, and the company said it would explore crypto payments for other features such as its ticket spaces.

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(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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