Twitter, the beloved social network for crypto enthusiasts, has set up a dedicated team to develop solutions for crypto, DeFi, and dapps.
Tess Rinearson, Engineer, will be the leader of the team. Tess worked with Chain.com and the Interchain Foundation before joining Twitter.
Hello Twitter Crypto
Tess Rinearson explained in a thread that the team will be working in the area blockchain, cryptocurrencies and other decentralized technologies in order to create solutions not necessarily connected to the financial sector.
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.
— Tess Rinearson, @_tessr November 10, 2021
The team hopes to improve the Bitcoin tipping platform as well as the recently announced proof-of identity service via NFTs.
Rinearson will continue to work on Dapps support and other identity-oriented solutions. Asset ownership and community building are also plans.
The team will be called “Twitter Crypto” and will deal with all things Web 3.0. Although there is no job posting, Tess has made available her DMs to anyone who would like to participate in the project.
Twitter Investors are Not Impressed
The news is encouraging for cryptocurrency enthusiasts but it appears that the views of traditional investors are very different.
Twitter shares are in steep decline. They have lost nearly 25% in a span of just two weeks. After a late October plunge that saw the stock price fall below $55, the charts show the first death cross since 2019.
Price of Twitter Stocks Source: Tradingview
Twitter investors don’t seem to be excited by decentralization. If the downtrend continues $TWTR could touch $50 support, unless a recovery proves that the scenario is wrong and returns the stock to the $55-60 price zone.
Decentralizing the Future
Twitter is the most crypto-friendly social media network. This company’s philosophy aligns with Jack Dorsey, CEO of Twitter. He believes that Bitcoin can be the new currency of the internet. Blockchain technology can revolutionize humanity’s future.
It recently introduced a function that allows users to send and receive Bitcoin tips through the Lightning Network. This was done in order to drive further development of the technology. This initiative placed Bitcoin in the same league with other forms of payment like Patreon, Cash App, and Venmo.
Additionally, Twitter’s CEO launched the Bluesky initiative recently, which aimed at decentralizing social media networks.
Jack Dorsey sees a future in which users can decide what they see on social media by choosing their preferred recommendation algorithm rather than having to rely on one company.
Although the idea was in development since 2019, it has yet to be implemented. Bluesky, if successful, could be a global example of a social network that is successful above others like Mastodon and Twetch Minds or Hive.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.