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Twitter is building a unit dedicated to crypto after contracting and appointing a unit leader

Twitter is building a unit dedicated to crypto after contracting and appointing a unit leader

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Answer Twitter is building a unit dedicated to crypto after contracting and appointing a unit leader

Twitter announced Wednesday that it will launch a team dedicated to developing cryptocurrency products.

According to the Financial Times, this is one effort by Twitter CEO Jack Dorsey to lobby for the development of decentralized applications (dApps) and the adoption of cryptocurrency within the social media company.

The US-listed social network has appointed Tess Renerson to lead the crypto team to set the tone and the way for the future of cryptocurrencies, the company told the Financial Times.

will present Renerson reports to Paraj Agrawal, Twitter’s chief technology officer.

Prior to her Twitter role, Renerson worked for several companies in the industry, such as Interstellar, a decentralized cryptocurrency exchange wallet.

Read:New report says 75% of EOS transactions in DApps are ‘fake’

Twitter added:

We are exploring ways to integrate decentralized technologies into our products and infrastructure.

The plans appear ambitious in the field as Twitter is described as a center of excellence for all things blockchain and Web 3.0.

This maneuver is not surprising due to Dorsey’s well-known defense of cryptocurrency and Bitcoin (BTC), who has said he wants to integrate digital assets into Twitter’s line of business.

Square Cryptocurrency Wallet:

In June, Dorsey, who is also Square’s CEO, commented that his company was looking to create a new hardware Bitcoin wallet, as such transactions had become a profitable business for the company.

The CEO and founder of Twitter indicated that the intent was to create a new way for users to store their cryptocurrency without the custodianship of Square.

However, make it clear that such a solution does not need to be owned by the company.

As Dorsey stated:

If we do, we will build it entirely in the open, from software to hardware design, and in collaboration with the community.

Read:Riot Buys Huge Bitcoin Mining Center in Texas

We want to start this thinking the right way by sharing some of our guiding principles.

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