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Blockchain-based Social Networking App Twetch Has Launched An Encrypted Messaging Feature Enabling In-Chat Payments
Summary: A micropayment-based social network running on Bitcoin SV blockchain called Twetch is introducing an encrypted messaging feature allowing users to send each other money in the chat, according to a recent announcement. Users need a cryptocurrency wallet connected to BSV to access the new feature. Twetch CEO Joshua Petty said the advancement is a step towards ...
A micropayment-based social network running on Bitcoin SV blockchain called Twetch is introducing an encrypted messaging feature allowing users to send each other money in the chat, according to a recent announcement.
Users need a cryptocurrency wallet connected to BSV to access the new feature. Twetch CEO Joshua Petty said the advancement is a step towards breaking up big tech data monopoly.
Several mainstream social media apps have tried introducing payment features into direct messaging platforms. Snapchat launched Snapcash in collaboration with Square in 2014, but the feature was discontinued in 2018. Facebook also introduced Facebook Pay in 2019 which allows users to transfer funds via WhatsApp, Facebook or Instagram, but like Snapcash the feature has not grown wildly popular.
Security concerns are likely a factor holding back the success of integrating payments systems with social network apps, so it is yet to be seen how successful Twetch's service will be.
By Emily Mason
Tags: Bitcoin SV Blockchain,Payments Systems,Twetch
Link: Blockchain-based Social Networking App Twetch Has Launched An Encrypted Messaging Feature Enabling In-Chat Payments [Copy]
