Twitter will develop a crypto team, explores Blockchain usage

Microblogging company, Twitter Inc., announced on Wednesday its proposals of developing a crypto team to implement the needed measures on the platform to help users earn and accept cryptocurrency payments.

Branded as “Twitter Crypto,” the team will look into diversified ways to assist creators in accepting Bitcoin for payments, and different approaches to implementing blockchain technology and expanding the platform’s crypto network.

Directed by its latest hire, software engineer Tess Rinearson – who will answer to Twitter’s chief technology officer (CTO), Parag Agrawal – the company will fulfill new roles to accommodate its new decentralized vision and will lead the crypto team.

Twitter’s doors are already open to the world’s leading digital asset, Bitcoin, and has recently revealed its latest direction of allowing users to verify they own a nonfungible token (NFT) posted on their display photo.

Now, the company is probing its examination into decentralized platforms that function independently without running by any company’s server. This will deliver users more power and control regarding the privacy of what they can post on its platform.

A spokesperson close to the matter refused to comment on what Twitter is planning to build but revealed that the popular blogging platform is seeking “an opportunity to help creators participate in the promise of an evolving, decentralized internet, directly on Twitter.”

Bitcoin’s valuation currently stands at $64,768 as of the time of writing and touched its all-time high of $68,778.48 on Tuesday, according to Coinbase.