Twitter Forms A New Team Focused On Blockchain And Crypto

Twitter has built a new team to focus on blockchain and cryptocurrency research for the social networking website. Tess Rinearson, a council member on the Interchain Foundation, has been appointed as the lead and will oversee the developments for ‘Twitter Crypto.’ After the recent integration of Bitcoin tipping in the Twitter platform, the social media giant is looking for newer ways to expand its crypto wing.

Rinearson shared the new developments in the social media firm, led by CEO Jack Dorsay, in a tweet. The goal of the team will be to collaborate and conduct a research on the recent developments in the world of crypto, blockchain technology and decentralized applications.

According to the leader of this team, Twitter “gets” crypto, but there are numerous factors unaccounted for. Combining the financial and technical industries, the blockchain industry exploded this year as every sector tried to integrate crypto technology in their products. Therefore, Rinearson’s team will be “working to figure out what crypto can do for Twitter, as well as what Twitter can do for crypto.”

“Twitter Crypto will underpin all of this work and serve as a ‘center of excellence’ for all things blockchain at Twitter. We’ll be hiring for roles in engineering and product. If this sounds exciting, please get in touch!” said Rinearson in another tweet.

Furthermore, in order to explore new ideas on the integration of crypto tech with Twitter, the team will also take ideas from crypto enthusiasts on the networking platform. These “crypto communities can help us push the boundaries of what’s possible with identity, community, ownership and more,” Rinearson said.

The team will also be working closely with Bluesky, the decentralized social media project funded and set up by Twitter. Content creators will be encouraged to store their virtual assets in decentralized applications, supporting the communities and their work.

The entire team is said to be focused on both communities and creators, leaving no stones unturned.

Recently, Twitter also jumped on the NFT bandwagon, as it announced the support for NFT authentication. With the intention of helping creators stay ahead of the competition and own their content, the firm is trying various strategies to figure out how creators with authenticated collections will stand out.