Twitter has announced that it is launching a dedicated crypto team to explore decentralized apps.
The new team, dubbed Twitter Cryptonot to be confused with everyday crypto Twitteris set to be led by Tess Rinearson, who has been tasked with setting the strategy for the future of crypto at (and on) Twitter, the company reportedly said, per the Financial Times.
Im thrilled to share that Ive joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologiesincluding and going beyond cryptocurrencies, Rinearson tweeted.
What is Twitter Crypto?
Twitter Crypto, according to the company itself, is all about decentralizing social media and even reportedly allowing content creators to earn crypto.
Were exploring ways to incorporate decentralized technologies into our products and infrastructure, Twitter said.
The team is also reportedly in place to be a center of excellence for all things blockchain and Web 3.
Twitter is, of course, led by CEO Jack Dorsey, who is an avid Bitcoin fan. Dorseys other company, Square, recently announced that it is exploring whether or not to build Bitcoin mining hardware.
It is the latest in a long line of Bitcoin moves made by Square. The Square Cash App is already a popular way to purchase Bitcoin, and in the summer, the company announced plans to create a new kind of decentralized exchangeagain, focusing on Bitcoin.
Twitters announcement comes amid a renewed series of calls for social media to decentralize.
Social media and decentralization
Twitters announcement is the latest in a long line of calls for decentralization in social media.
Earlier this week, Reddits and Solanas founders announced a $100 million initiative for Web 3 social media technology. The announcement was made at the Solana Breakpoint conference in Lisbon, Portugal.
I do need to be freed from centralized social media, I want to get off Twitter, said Raj Gokal, Solana co-founder.
Ive got a special prize for whoever helps me get off and delete my accounts from those centralized services, Gokal added.
Perhaps now hell change his mind?
