Twitter has announced that it is building a department in the company that will be dedicated to everything related to blockchain technology. The section, which will be named Twitter Cryptowill be in charge of designing the company’s strategy in the cryptocurrency and NFT assets sector.
Twitter Crypto is the new department of the social network that will be responsible for designing the company’s strategy in the cryptocurrencies and blockchain technology sector
As they explain from the company itself, its objective is to channel the growing interest shown by its users towards these digital assets. At the same time, Twitter wants to explore how the dynamics and ideas of the crypto world can help develop and strengthen a community with its own identity.
This department of Twitter will work closely together with Bluesky an independent platform founded by Twitter with the aim of studying how to adapt the social network to a decentralized and open environment. This platform is composed of a team five open source architects, engineers and developers.
As they have been advocating at Twitter for some time, a decentralized model of social networking could help reduce the spread of misinformation and fake news and would improve the way content is moderated. Blockchain technologies can help the platform move towards this model.
In fact, Twitter has been showing signs of interest in this area for months now. Without going any further, last September made its first foray into the world of cryptocurrencies. Since then, Twitter allows its users to send and receive tips in Bitcoin.
With this update, cny user has access to this tipping system and can make donations through apps like Venmo, Cash App, Bandcamp or GoFundMe. As for Bitcoins, tweeters based in the United States and El Salvador have the option to send and receive cryptocurrencies through Strike, a person-to-person micropayment app.