Twitter has created a separate division for working with cryptocurrencies and blockchain. The new team is led by blockchain engineer Tess Rinearson, who previously worked on the Chain, Tendermint Core, Interchain Foundation and Cosmos projects.
Rinearson announced that experts under her leadership will explore how the company can support the increased interest of content creators in decentralized applications, and will also work closely with the Twitter-sponsored bluesky initiative to create a decentralized social network standard.
In September, Twitter allowed platform users to send Bitcoin donations to authors. In addition, the company plans to add the function of connecting a cryptocurrency wallet to an account for importing NFTs to use them as a profile picture. According to TechCrunch, the new division will consider the possibility of introducing payments in cryptocurrency for access to paid audio chats (Ticketed Spaces), the functionality of which resembles the Clubhouse social network.
Twitter is not the only major social network that relies on cryptocurrencies. The head and founder of the platform, Jack Dorsey, who also owns the electronic payment processing service Square, said in July that the latter will have its own crypto wallet. A fintech company can also create an open source bitcoin mining system. Further decentralization of the network will be critical to secure transactions, he said.
This week, Discord messenger founder Jason Citron hinted at Ethereum integration via crypto wallets such as MetaMask and WalletConnect. Another popular content aggregator, Reddit, has begun hiring staff to design, build, and maintain the creation of back-end services for the large-scale NFT trading platform.