Twitter’s administration wants to provide new services through the Bitcoin Lightning Network, which is currently under development.
Since the beginning of his career, Twitter CEO Jack Dorsey has expressed his support for Bitcoin and the possibilities that trustless and decentralized money may provide to the world. In August 2021, though, his public opinions on the asset grew significantly.
During a Twitter chat on August 17, Dorsey revealed that he was personally mining bitcoins with Compass Mining, and at the end of the month, he acknowledged that his numerous firms had been preparing to assist bitcoin in becoming the “national currency” of the internet.
An Italian developer and leaker named Alessandro Paluzzi posted pictures of what seems to be a Twitter internal memo on September 1 in which the company describes a new concept for leveraging the Strike platform and the Lightning Network to offer Twitter users with bitcoin advice.
Paluzzi followed up on these tweets the following day, noting that they demonstrated some of the new user interface capabilities, such as the ability to directly insert Bitcoin and Ethereum addresses into user profiles, as well as the option to provide recommendations for these currencies directly through the Twitter application itself.
Even though it was not explicitly stated in the image, Paluzzi admitted that Strike will assist in setting the context for the project, adding, “It is not essential to link a Strike account to add [wallet addresses] to your profile.”
However, even though several ridiculous allegations have been made in the sphere of internet leaks, the worries of a Twitter employee have been substantiated. Kayvon Beykpou, Product Leader of Twitter, has confirmed these assumptions with as little further information as possible for two other emojis: the lightning bolt with the word “soon,” and the heart with the word “love.”
Since then, Twitter has gone into further depth and brought attention to previous statements made by Dorsey and other Twitter workers earlier this summer. It was apparent from these remarks, which were delivered at the financial presentation of Twitter’s second-quarter in July, that bitcoin will play an “essential role” in the company’s future.
Dorsey’s newest pro-Bitcoin remarks, such as his support for the establishment of a new “open, decentralized social media standard,” are relied upon by a large number of people. Despite this, there are currently no updates on the timeline for implementing this new feature for the 180 million users of the social networking site in question.
One thing is certain, as seen by Bitcoin’s recent increase in value: the cryptocurrency has received significant support from firms such as Twitter Bodes for Bitcoin.