The possible integration of Twitter accounts with Bitcoin-enabled lightning wallets is anticipated to fetch substantial profits for the social media platform.
Dorsey tweeted in response to a user who was suggesting that Twitter should now allow its users to secure a wallet to store NFTs on their official accounts.
Every account on Twitter being able to link to a Lightning wallet however…
— jack⚡️ (@jack) August 12, 2021
Jack Dorsey has tweeted that he might be considering a new move that will allow Twitter users to have access to their independent bitcoin-enabled lightning wallets. However, it is still unclear whether the social media platform will implement the said feature or not in the upcoming months. The following feature, if implemented and executed systematically, is said to boost the BTC adoption drive and will make the currency more accessible to the masses.
The possible integration of Twitter accounts with BTC-enabled lightning wallets is anticipated to fetch substantial profits for the social media platform. Lightning wallets have been designed to facilitate rapid payments and minimize the time consumed while processing a standard BTC-enabled payment. This will allow the platform to attract numerous crypto enthusiasts who have been actively looking for secure and reliable payment networks to efficiently make payments with. Such types of integrations have already been utilized by a variety of applications namely ZEBEDEE Infuse, Sphynx Cat, and TIPPIN.
Jack Dorsey is a multimillionaire CEO of social media platform Twitter and a mobile payment company called Square. Dorsey had recently made headlines when he openly propagated and supported Bitcoin and has stated that BTC possesses a unique power that has the potential to take over the world. In 2008, the entrepreneur had secured the title of being counted as one of the top 35 innovators of the world and had been the recipient of the “innovator of the year award” organized by The Wall Street Journal.
Dorsey had trolled the Ethereum community earlier today via uploading a screenshot of a tweet, stating how the second-largest cryptocurrency community might be a possible scam. Dorsey is known to be a stark bitcoin proponent and has commented that “it’s just a matter of time” when Twitter would possibly link all its accounts to bitcoin-enabled lightning wallets. The users will then have their wallets to conduct cryptocurrency transactions with, and having verified Twitter accounts will help authenticate their user identity.
At the same time, the CEO of Twitter has rejected the idea of allowing users to store non-fungible tokens on the social media platform.
Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.