Cryptocurrency

After Twitter’s Success, The Platform’s Co-Founder Is About To Launch Native Cryptocurrency

As they say, there is no end to achieving greater heights if the aim is not the heights but the journey. This seems to fit well with Twitter’s founder Jack Dorsey. The success story and the popularity of the social media platform (and now the favorite hot hub of the cryptocurrency world)- Twitter, is not hidden from anyone. Lately, it has been reported that the co-founder and the CEO of the platform, is looking into building a payment system based on the blockchain technology. Call it the founder’s popularity or the anything else, but by far the project has managed to grab a lot of eyeballs. It is prophesized that this project has the potential to push the awareness of the crypto world to a greater extent, and it will also make crypto adoption to reach far out to many places.

Blueprint of Twitter’s project-

The cryptocurrency by Twitter is said to have Square’s payment system as its foundation. One can expect a combination of cryptocurrency and the payment services with the release of the new crypto by Twitter. As of now, the Square payment system is active in BTC sales. If we look at the last year’s performance, the platform achieved good profits of around 1 million U.S Dollars.

The construction of the project started two months ago when the company hired crypto engineers and a designer to work on it on a full-time basis. On 21st May, ‘Square Crypto’ announced on Twitter about their “first hire.” The tweet explained that the project would be an open source project which will, in turn, make the mass adoption “inevitable.” The company made it clear that its objective is to “improve money,” rather than only focusing on making it. The twitter post got a lot of good response, and it was re-tweeted for two hundred and eighty-eight times. It gained one thousand, eight hundred, and eleven hearts, with eighty-four comments.

The bigger vision-

Another reason why Twitter’s crypto project is gaining so much attention is because of its bigger vision. The company has been making it highly clear that the main goal of this project is not to merely focus on generating money, but it is rather focusing on improving it. The founder added that the main thinking behind the project is to support the crypto community. The company further added that the team-

Will focus entirely on what’s best for the crypto community and individual economic empowerment, not on Square’s commercial interests. All resulting work will be open and free. […] We are building open source projects that will make mass adoption not just possible but inevitable.

By far the groundwork seems to be promising. The precise details of the project are not yet clear, though. It will be a matter of time to see how much the company and the platform will be able to deliver and stand true to its promises. Looking at the success of Twitter’s platform, the Square payment system’s success, the hope tends to become naturally quite high.

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Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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