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Twitter has announced that it is launching a dedicated crypto team to explore decentralized apps.Â
The new team, dubbed Twitter Cryptoânot to be confused with everyday crypto Twitterâis set to be led by Tess Rinearson, who has been tasked with setting the âstrategy for the future of crypto at (and on) Twitter,â the company reportedly said, per the Financial Times.Â
Iâm thrilled to share that Iâve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologiesâincluding and going beyond cryptocurrencies.pic.twitter.com/HaP0k5hUOq
â Tess Rinearson (@_tessr) November 10, 2021
âIâm thrilled to share that Iâve joined Twitter, to lead a new team focused on crypto, blockchains, and other decentralized technologiesâincluding and going beyond cryptocurrencies,â Rinearson tweeted.Â
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.Â
âWeâre exploring ways to incorporate decentralized technologies into our products and infrastructure,â Twitter said.Â
The team is also reportedly in place to be a âcenter of excellence for all things blockchain and Web 3.
Twitter is, of course, led by CEO Jack Dorsey, who is an avid Bitcoin fan. Dorseyâs other company, Square, recently announced that it is exploring whether or not to build Bitcoin mining hardware.Â
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 exchangeâagain, focusing on Bitcoin.Â
Twitterâs announcement comes amid a renewed series of calls for social media to decentralize.
Social media and decentralization
Twitterâs announcement is the latest in a long line of calls for decentralization in social media.
Earlier this week, Redditâs and Solanaâs founders announced a $100 million initiative for Web 3 social media technology. The announcement was made at the Solana Breakpoint conference in Lisbon, Portugal.Â
Reddit Co-Founder and Solana Ventures Team Up On $100M Web 3 Social Media InitiativeâI do need to be freed from centralized social media, I want to get off Twitter,â said Raj Gokal, Solana co-founder.Â
Iâve got a special prize for whoever helps me get off and delete my accounts from those centralized services,â Gokal added.Â
Perhaps now heâll change his mind?Â
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