Twitter has revealed a dedicated crypto team which will focus on the development of “all things blockchain”.
The Twitter Crypto, as the division is called, will explore various uses of the blockchain, including the creation of a decentralized app, the company said in a press release.
To bolster those efforts, Twitter is also bringing Tess Rinearson on board. Rinearson has previously worked at crypto startups such as Chain, Tendermint and Interchain.
Rinearson will work directly under chief technology officer Parag Agrawal who will assist with the overall direction of the team.
The main goal will be to continue using cryptocurrencies as the means to pay creators, but the company will be looking to run stronger forays in what it describes as the “decentralized social media space”.
The company said that the interest among creators for decentralized apps to manage virtual goods, and currencies, has been growing exponentially, prompting the company into action.
After introducing Bitcoin (BTC) tips, Twitter has decided to get involved more seriously with blockchain and crypto technology. Company CEO Jack Dorsey is also part of Square, which is developing a hardware crypto wallet for BTC.
Twitter has been a vocal proponent of a more transparent social media space, hoping to set an example of its own. The introduction of blockchain is another step in realizing this commitment.
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