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Cryptocurrency Decrypt

Twitter to Explore Decentralized Apps With Dedicated Crypto Team

Twitter has announced that it is launching a dedicated crypto team to explore decentralized apps. The new team, dubbed Twitter Crypto—not to be confused with everyday crypto Twitter—is set to be led by Tess Rinearson, wh...

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Twitter to Explore Decentralized Apps With Dedicated Crypto Team

Twitter has announced that it is launching a dedicated crypto team to explore decentralized apps. 

The new team, dubbed Twitter Crypto—not to be confused with everyday crypto Twitter—is 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. 

I’m thrilled to share that I’ve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologies—including and going beyond cryptocurrencies. pic.twitter.com/HaP0k5hUOq

— Tess Rinearson (@_tessr) November 10, 2021

“I’m thrilled to share that I’ve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologies—including 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. 

“We’re 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. Dorsey’s 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 exchange—again, focusing on Bitcoin. 

Twitter’s announcement comes amid a renewed series of calls for social media to decentralize.

Social media and decentralization

Twitter’s announcement is the latest in a long line of calls for decentralization in social media.

Earlier this week, Reddit’s and Solana’s founders announced a $100 million initiative for Web 3 social media technology. The announcement was made at the Solana Breakpoint conference in Lisbon, Portugal. 

Reddit Co-Founder and Solana Ventures Team Up On $100M Web 3 Social Media Initiative

“I do need to be freed from centralized social media, I want to get off Twitter,” said Raj Gokal, Solana co-founder. 

I’ve got a special prize for whoever helps me get off and delete my accounts from those centralized services,” Gokal added. 

Perhaps now he’ll change his mind? 

Why this matters

This cryptocurrency story adds another data point to the current market tape and is useful when read alongside nearby source coverage.

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