The giant Twitter is undergoing a revolution since the arrival at the helm of Elon Musk. It has been known since December that the company was working on some form of currency, and new information appears to have leaked. In particular, we know more about a possible application of blockchain.
The company continues to work on its “Twitter Coin”
A new finding by Jane Manchun Wong is the source of this new information. Known for scrutinizing apps to uncover hidden features, she noted that Twitter was now working on a buy page for his “Twitter Coin” :
Twitter is working on the screen to buy coins
On the web, Twitter Coins will be purchased through Stripe https://t.co/RFpWswnZfG pic.twitter.com/eAzPWjfoye
—Jane Manchun Wong (@wongmjane) 10 January 2023
The screenshot shows how Twitter describes these coins:
“The corners allows you to support creators who tweet content.»
Along with this, Jane Manchun Wong reveals that Twitter trophies are also planned, haveto reward the most impactful publications. If the template looks familiar, it’s apparently modeled after what already exists on the Reddit discussion board. The latter has actually launched its own “coins” and trophies in recent years.
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A system that won’t be based on blockchain?
Coin purchases will likely be available through payment service provider Stripe. According to several people who looked into this future feature, the “Twitter Coin” will apparently not be a cryptocurrency, but an internal payment system like the corners of Reddit.
It appears to be an in-app currency to support the creators. I didn’t find anything relating it to *crypto* currency.
—Nima Owji (@nima_owji) 10 January 2023
This is notable because since Elon Musk expressed his interest in Twitter, he has repeatedly suggested that it might be possible to integrate a real cryptocurrency – like his favorite Dogecoin (DOGE). But the controversial billionaire seem to have moved away from this idea.
Currently ? Of course, we had noticed the tests of Reddit, which had offered two cryptocurrencies to its users, in parallel with the “coins”. Twitter could therefore continue to think about blockchain. We remember that Elon Musk briefly mentioned the idea to make money from the publication of tweets. Although leaked messages had revealed that he now considered none to be scalable enough to support all of Twitter.
In any case, all of this shows Twitter’s trial and error to find an economic model that works. We remember the debacle surrounding the new profile verification system, as well as the ideas thrown around by Elon Musk. He also confirmed that he is stepping down as managing director… Possibly.
👉 On the same topic – “Should I step down as head of Twitter? “: Elon Musk launches a poll
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Source: Jane Manchun Wong via Twitter
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