More information regarding Twitter’s unannounced “Twitter Coins” project has just come to light thanks to tech bloggers Jane Manchun Wong and Nima Owji, who shared additional facts about the virtual currency that is currently under development. However, the stolen photographs make no mention of cryptocurrencies or blockchain technology, prompting some to conclude that the project would not in any way include cryptocurrencies.
Early in December, there were rumblings that Twitter would include cryptocurrencies in its platform. Many in the cryptocurrency world, particularly those who hold Dogecoin, were encouraged by Elon Musk’s public endorsement of the asset. Musk said he was still interested in integrating cryptocurrency with the social media platform during a Twitter Spaces event on December 4.
Owji tweeted that no leaks yet have shown any evidence that cryptocurrency would be used in Twitter Coins because the recently disclosed graphics posted by Wong and Owji on January 10th make no reference to cryptocurrency or blockchain technology. Instead, the photos give additional details about the in-app digital currency’s intended usage, which appears to be largely helping platform producers.
Twitter Coins Are Making Headlines
Those in the bitcoin world who were waiting for a large platform like Twitter to include cryptocurrencies in some fashion may be disappointed by this news. It serves as a reminder that just because major technological businesses and social media platforms have expressed interest in cryptocurrencies doesn’t imply they will inevitably include them. Further information concerning Twitter’s unreleased digital asset, Twitter Coins, has come to light and revealed that it would not utilize blockchain or cryptocurrencies.
The leaked graphics show that Twitter Coins would be used largely to assist authors on the site, despite the fact that many in the cryptocurrency world had high hopes for such integration. It serves as a reminder that just because major technological businesses and social media platforms are interested in cryptocurrencies, it doesn’t imply those products will necessarily incorporate them.