Great institutions are not left out as the financial industry records the growth of digital ways of buying and selling, with the majority of them using cryptocurrencies as payment methods and blockchain to expedite operations. As a result, the global adoption index for cryptocurrency has risen to 880 percent in 2021.
Owing to this development, Twitter is putting up a team of experts to lead the company’s foray into cryptocurrencies and decentralized technology.
The team will be directed by Tess Rinearson, a Berlin-based software engineer, and will focus on figuring out how Twitter can fit into this quickly growing market.
The team will be made up of seasoned crypto and blockchain professionals that will guide the company down the path of becoming a decentralized social media platform that supports digital currency and decentralized technology.
Tess Rinearson announced her joining Twitter to manage a new crypto team in a Twitter thread. She stated that the new team’s goal will be to figure out how Twitter can help the cryptocurrency community, including producers and collectors, while also benefiting from the platform.
“We’ll be examining how concepts from crypto groups may help us push the frontiers of what’s possible with identification, community, ownership, and more in the future,” she added.
The social media platform’s new crypto-focused team would collaborate with Bluesky, an open-source social network building protocol in its vision, as it advances deeper into blockchain technology.
Twitter has previously revealed a feature that would allow users to tip their favorite influencers with both fiat currency and cryptocurrencies, particularly Bitcoin. This shift is intended to reflect the company’s increasing involvement in fast-evolving technology.
For more efficient real-time transactions, Strike’s Bitcoin lightning network supports the tipping feature. Other tipping options include standard payment sources, which customers can choose to use.
Users will be able to authenticate their NFTs on the Ethereum network and display their NFT collection for followers, collectors, and artists to see by adding an NFT authentication tool to the platform.
This comes just weeks after Facebook announced a name change to “Meta” and a multimillion-dollar investment in Metaverse/Crypto-related research.
Notably, numerous social networking service providers such as Twitter, Facebook, Reddit, and others have indirectly aided in the global adoption of crypto by allowing users to create crypto communities and boost global awareness of this decentralized and even better technology.
Nike, Microsoft, Softbank, and Google are just a few of the notable companies that have recently adopted the crypto realm.
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