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Dharma Launches Social Payments Feature Enabling Dollar Transfers to Any Twitter Handle

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Several mainstream financial companies have taken new and innovative steps to improve the process of capital transfer within the ecosystem. Since the start of proper fiat transfers, users have been clamoring for a more streamlined process that can be beneficial for everyone.

On April 22, Dharma launched its native social payments system to make capital transfers easier across Twitter. Using the latest feature, users will be able to send the US dollar to any Twitter handle regardless of the receiver’s geographical location. 

Dharma claims that its new update is the easiest way to pay and save money on a global scale. The decision to implement social payments was made after Dharma saw massive potential in allowing users to send money to Twitter handles. One of the most important highlights of the feature is that the person on the receiving end does not need to hold a Dharma account.

Dharma has also provided a detailed breakdown of the processes to be followed while sending and receiving money. Dharma’s Twitter thread said:

“Introducing Social Payments- a Twitter-native financial ecosystem. Today, you can send USD to any Twitter handle, regardless of where that person lives — even if they don’t have a Dharma account. Now *every* Twitter handle accepts (and earns interest on!) payments.”

One of the biggest gainers from the Twitter payment system will be the micropayment and tipping industry. In addition, Dharma claimed that it would be much easier for people to send money across borders to charities without any hassle. Businesses can also use the opportunity to make payments quickly and efficiently.

To kickstart the process, users need to first deposit the required funds to their Dharma account and then finalize the receiver Twitter handle. Once the payment is made through the Dharma account, the sender is required to retweet @Dharma_Bot and tag the recipient account on Twitter.

The receiver on their end has to initiate the link sent by the Dharma Bot after which they will receive the transferred funds to their newly created account. Another added advantage of the transfer feature is that the receiver will begin earning interest as soon as the fund hits their account. Dharma is the first platform to offer payments in USD and USD backed stablecoins.

Other platforms such as Brave and Tippin already allow tip transfers on Twitter but only using the Brave token or Bitcoin. The Dharma application is currently available on both Google Play Store and the Apple Store. Dharma was also in the news recently for developing a new specification for network scaling. Developers said that the addition would scale up the Layer 2 process by 10x, a significant figure in any network.

Elon Musk Tweets in Support of Bitcoin Proponent Jack Dorsey

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In a wake of recent reports that seeks Jack Dorsey’s replacement from the post of CEO at Twitter, Elon Musk defended Jack Dorsey, saying, he supports Jack, adding he has a good heart.

Jack Dorsey who is actively involved in building Bitcoin as internet currency has recently been criticized by a key investor of Twitter, Elliott Management. The news comes in a wake of recent bashing reports on Twitter due to the platform’s inability to suppress hateful tweets and misinformation. More so, CEO Jack Dorsey was also been criticized for his major involvement with his other company, Square Inc.

The crux of the matter is that CEO Jack Dorsey is actively involved in encouraging the adoption of Bitcoin and making it even simpler to use. In fact, Jack has foreseen the future of Bitcoin in Africa and henceforth wants to stay there for several months, continuing his personal advocacy of the cryptocurrency. As a result, a large community thinks that Jack is splitting his duties of CEO at Twitter with his other company, Square, a payment firm.

“Sad to be leaving the continent…for now. Africa will define the future (especially the bitcoin one!). Not sure where yet, but I’ll be living here for 3-6 months mid-2020. Grateful I was able to experience a small part. Jack tweeted in Nov 2019”

While the reports surfaced on the web and social media, alleging Jack and debating on his dual CEO position, Elon Musk tweets in defense of Jack Dorsey. Musk besides supporting Jack also teased the crypto community by posting a picture of dog and writing “Dogs rock… they have the best coin”. To note, Musk previously called Dogecoin, a dog meme coin as his favorite currency.

More so, Elon Musk tweet got the attention of Binance boss, Changpeng Zhao who then quoted it and showed he too support Jack. CZ supplements his claim, saying, “he (Jack) has good taste #Bitcoin”, the largest cryptocurrency which is currently trading at $8867 against USD. At the time of reporting this, Bitcoin is surging by 1.52 percent within the past 24Hrs.

Jack Dorsey’s Upcoming Decentralized Social Network Project Receives Huge Request

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Recently unveiled by Twitter CEO Jack Dorsey, Twitter is on a mission to build a new decentralized social media protocol called “Bluesky.” This new initiative on Twitter reportedly received several hiring applications within a couple of hours of the announcement.

Essentially, Jack Dorsey has always been an adherent of Bitcoin and the decentralized ecosystem. This time, Jack is funding a small team of researchers with a vision to build an “open and decentralized standard for social media.” By doing so, he intends to make Twitter as a client for that standard. This process isn’t undoubtedly quick and easy. Instead, it could take years to get into the process. As tweeted by Jack, the project is called “Bluesky,” and currently, the project is simply a name. However, Twitter CTO Parag Agarwal is tasked to spearhead the hiring process for the project.

As per the series of tweets, Parag Agarwal will initially hire the lead for the project, who will then be responsible for building a team of five people. Consequently, Bluesky tweeted that there are several DMs they’ve received, which require some time to get through them all. The tweet reads as follows;

Thanks all for the warm welcome! Overwhelmed with the number of DMs we’ve received! Going to take us some time to get through them all. Our first goal is to find a lead for the project who will then build the team and set the strategy. It will likely take a few months.

Twitter CEO further asserts that it was their call to make Twitter increasingly centralized for several reasons. Still, for many other reasons, it is now required to take a new path to make Twitter a decentralized social media. He elaborated a few reasons behind his vision to build a new standard for new decentralized social media protocol;

  • Centralized enforcement of the global policy to address abuse and misleading information is unlikely to scale over the long-term without placing far too much burden on people.

  • Second, the value of social media is shifting away from content hosting and removal, and towards recommendation algorithms directing one’s attention.

  • Third, existing social media incentives frequently lead to attention being focused on content and conversation that sparks controversy and outrage, rather than a conversation that informs and promotes health.

  • Finally, new technologies (Blockchain) have emerged to make a decentralized approach more viable.

Over the past few years, twitter conversation has become a centre point for people to familiar with what’s happening around the world. Besides, few media publications prefer tweets as the base for their further research, which eventually engaged their audience with the conversation happening around that particular tweet.

More so, Jack mentioned that his idea to transform social media from a centralized version to a more decentralized version was partly inspired by Mike Masnick, founder of Techdirt. Notably, Mike believed in protocols, not platforms for the internet.

As for now, Twitter’s new open-source, decentralized protocol, Bluesky, is still an idea and is unique to the world. Moreover, it has yet to announce the head and other team members who will be managing it.

Stay tuned with Tron Weekly Journal to know more…

Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Binance CEO Guides Binanciers as Twitter CEO’s Account Gets Hacked

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Co-founder and CEO of Twitter had his account ‘briefly’ hacked by a group that calls itself the Chuckle Squad. This comes as a severe concern for the CEO of the largest crypto exchange, Binance.

Today, on Aug 31, 2019, Binance CEO Changpeng Zhao (CZ) quoted the tweet that concerns about Twitter CEO Jack Dorsey’s account hack summary and cautioned the Binance users to use a “Yubikey for their Binance account.”

Jack Dorsey’s Twitter Account Got Hacked

Despite the strict security policies set out by respective social media platforms, account hack of prominent public figures is no surprise these days.

However, today’s hack appears to be too crispy because hackers targeted the account of Twitter CEO itself. Hacker took over Jack’s Twitter account for about 20 minutes and tweeted racial slurs including a retweet that claims, “nazi Germany did nothing wrong.”

There was reportedly several tweets and retweets during the time of the hack and also already being deleted now. As soon as it comes into notice, Twitter Comms officially informed users about the hack.

And within roughly 90 minutes, Twitter assures the community that the account is now secure. Further, it said, “there is no indication that Twitter’s system has been comprised.”

https://twitter.com/TwitterComms/status/1167591003143847936

While Twitter CEO’s account hack creates a sense of insecurity among other most high profile accounts, it is worth noting that some of the other influencers have already got hit in the last two weeks.

CZ Cautions Binance Users

Following the whole scenario, the CEO of Binance Exchange requested its users to use Yubikey, a strong Two Factor Authentication from a company called Yubico. The exchange in late July this year announced its support for two-factor authentication (2FA) via Yubico’s hardware-based security key, Yubikey.

Binance stepped out with Yubikey after suffering the security breach during May which have led the exchange to implement “significant changes to the API, 2FA, and withdrawal validation areas”.

https://twitter.com/cz_binance/status/1167675570362179584

As for Jack Dorsey’s hack account incident, many influential profiles on Twitter shared their views, and one such tweet reads that “If the Twitter CEO’s account can be hacked, then none of us is safe.”

Moreover, Crypto industry often witnessed several hack incidents; sometimes with the bitcoin mixing service targeting user’s individual wallet addresses while on the other side, hackers hit the crypto exchange itself. Notably, Binance exchange is already under the list of 2019’s hacked crypto exchanges.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

“We Love Bitcoin,” Twitter CEO Jack Dorsey Applauds Bitcoin Earnings Call 

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Twitter founder, Jack Dorsey is again bullish on world’s largest cryptocurrency. He makes an optimistic statement on Bitcoin, saying, “We Love You, Bitcoin” during Square’s Earnings Call of Q2 2019.

We Love You, Bitcoin – Jack

Besides Twitter, Jack Dorsey is the CEO of Square, a Payment solutions provider which emerged in the year 2009 much similar to the year when Bitcoin appeared. Three co-founders founded square; Jim McKelvey, Jack Dorsey, and Tristan O’Tierney.

It’s worth to tone that Jack’s Square launched a simple and easy to use the app, Square Cash, which later renamed to “Cash App.” Accordingly, the product or application is accessible for users to request and transfer money to another user more conveniently and effectively.

To make it more interesting, trending and easy, the company integrated Bitcoin payment support in the mid of November 2017 which got launched in late January 2018 officially.

Since then the company began accomplishing a significant milestone, one such achievement was BitLicense. Back in 2018, Jack’s Square received BitLicense from DFS(New York State Department of Financial Services). As a result, it made CashApp to offer service in New York as well, which was not possible without BitLicense.

Nevertheless, in the latest Q2 report, it is shown that the company secured “strong revenue growth at scale,” including service related to bitcoin. Specifically, earning call mentioned, “Bitcoin revenue benefited from increased volume as a result of the increase in the price of bitcoin, and generated $2million of gross profit”. Mr.Dorsey in Q2 2019 Earning Conference Calls states that;

The Cash App ecosystem continues to exceed our expectations. In just three years, Cash App revenue performed basically $0 million to $135 million, excluding Bitcoin. We love you, Bitcoin.

Even though Bitcoin isn’t trading at a figure as high as the figure in late 2017, but the recovery of price in 2019 from the crash in 2018 is quite remarkable. At the moment, Bitcoin is up with 5.27 percent over the past 24 hours and is trading at the value $10510 against US Dollar.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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Twitter’s Square Crypto Bullish on Only one Product, Bitcoin

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Twitter CEO Jack Dorsey’s crypto business is again on hot bulletins of crypto media. The company, SquareCrypto recently states that Bitcoin is the only product they’re focusing on.

We are very, very pro-Bitcoin

In early days of its launch, SquareCrypto states that they’re hiring 4-5 crypto engineers and designers from across the world. While the exact idea of the company’s involvement in the crypto ecosystem seemed whole mysterious.

But according to the company’s project manager Steve Lee, “Bitcoin is the only product Square Crypto is building.” Steve Lee is a Google Alum who recently confirms his joining with Square Crypto.

Unlike Facebook, there’s still no report highlighting Twitter launching any cryptocurrency, via SquareCrypto. In the latest AMA session, Lee says that “they’re hyper-focused on bitcoin.” As a response to a tweet, Lee says;

We are very, very pro-Bitcoin. There is more than enough work for us to do there. That said, we are open to emerging use cases and technologies that complement Bitcoin. – Steve

Besides, while asked bout when are they expecting to have a working product from Square Crypto, Lee explains, there’s only one product, Bitcoin and it’s up and running for over ten years. He says; there is still a lot that needs to be done before we reach mass adoption.”

It seems that Lee and Square Crypto is too bullish on Bitcoin but still there’s no clear talk on what improvements the team is focusing on to reach “mass adoption.”

Following a similar note, Steve addressed yet another question that talks about self-sovereignty principles of Bitcoin. According to Square Crypto, “the needs of current and future users are overlapping.”

We agree with the self-sovereignty principles of Bitcoin. That said, we see the needs of current and future users overlapping. We want to make Bitcoin better for all. – Steve

Moreover, talking about the team for Square Crypto steve states that their first step is building the team wherein they hope to have one anchor developer with Bitcoin development experience.

With the process, the firms want to grow their “talent base” to contribute to the ecosystem. He further confirms that SquareCrypto is close in welcoming its first developer; while 1500 plus resumes are on queue.

In comparison to Facebook, Twitter’s Square Crypto is less about its own company’s brand position and more about building the bitcoin and crypto ecosystem stronger.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Never miss our daily cryptocurrency news, price analysis, tips, and stories. Join us on Telegram | Twitter or subscribe to our weekly Newsletter.

Another bad day for Tron CEO, Justin Sun, on Twitter

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Justin Sun, the eccentric and much-maligned founder of Tron has seen his mishaps and social bumblings reach a new level of viciousness. His recent tweet noted that ‘right now’ is a good time to buy Bitcoin, which would have been news of a new Oracle being born had Bitcoin not shot up well over $1000 in little over a week.

Sun acts, others react

https://twitter.com/Andre_S_Journey/status/1127107455580876800

The tweet was sent right as Bitcoin hit its 2019 peak and basically told everyone that it was never too late to buy. He received a roasting from followers and critics alike. Most of the tweets were cynical and sarcastic, however, a few of them made a point of saying that what he was doing was unethical.

Sun attended the TNW2019 conference in Amsterdam and was interviewed by an emerging crypto media there, whos representative questioned his decision to discuss cryptocurrency prices knowing he has a large influence in the community at large. He shot back with claims that he saved Bitcoin after the Binance hack took place.

He said that the price dropped by $200 and did not return to normal until he announced that he would send $40 million in USDT to support the world’s number one crypto exchange. He went on to say that it was because of this that Bitcoin rallied and closed at $5900 despite being at $5700 before he made his announcement.

Tron CEO also proclaimed that he has a great influence in the community and on the price of Bitcoin and that his work is helping everyone become richer. He also went on to say that he would be buying BTC, BNB, TRX, and BTT with the USDT he planned on moving to Binance rounding off his showmanship flair with a little canny investing.

Another muddle in a long list of them

Sun has courted a lot of controversy in the last few months. As it seems, the main problem people in the community have with him started when the young CEO announced an airdrop of USDT and Tron that included a Tesla as a prize for following certain conditions. And how Tron Tesla giveaway eventually ended up wasn’t as good as Mr.Sun would have wanted the event to complete (but he managed well in the end, that’s what we think).

Moving on, not too long ago, Sun tweeted ( in an elaborate tweet) that a deal had been done with the Champions League finalist Liverpool. But when Liverpool spokespeople were asked about any potential partnership with Tron, they denied it with a straight face. It turned out that the invitation that was sent to Tron CEO was a part of a general push so that companies could get back to Liverpool and allow the soccer club to learn about them.

This had the community both laughing and crying as his actions, in critics’ eyes, have given Tron a negative shine with his somewhat dodgy marketing tactics. As per the critics, there is an undercurrent of regret in the community for investing in a cryptocurrency with such an eccentric leader and one that is offering none of the stability that matches Vitalik Buterin or Changpeng Zhao.

Subsequently, may neutral observer has been supportive of the visionary young CEO all the way.

It remains to be seen if his business acumen can outweigh his marketing foibles.

Disclaimer: Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron (TRX) becomes the most tweeted crypto word in Japan

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It’s a very well known fact that Tron’s leadership is exceedingly adept in marketing. Among the Foundation’s marketing resources is, of course, the use of several Twitter accounts which include Justin Sun’s (Tron’s CEO and Founder, also CEO of BitTorrent) and the Tron Foundation’s.

Besides the official players, there’s plenty of discussion going on Twitter fueled by loyal Tron users (sometimes disgruntled ones too), so the micro-blogging platform has become one of Tron’s primary means of communication among community members as well as from the leadership to the user-base.

How effective has that been? Quite so. At some point on May 9, 2019 (a couple of days ago), Tron became the most tweeted cryptocurrency in Japan, overcoming even Bitcoin and Ethereum, which is quite a feat. And this is especially relevant because Japan is one of the crypto verse’s most active and influential geopolitical zones when it comes to cryptocurrencies.

The period in question was from 15:00 to 16:00.

The obvious question is: how relevant is this to the project? Well, it’s obviously a cosmetic thing, mainly. Only teenagers and Donald Trump really care very much about this kind of “distinction.” On the other hand, it points to the success that the project’s had in bringing attention to itself, and that is indeed important. More attention means more users, which means more demand for TRX which, eventually, will mean higher token prices.

This is not much of a milestone for Tron at all. But as the saying goes “there is no such thing as bad publicity.” Also, let’s not ignore the fact that many other blockchain projects would be quite happy to invest a pretty penny to ensure that they’re getting enough attention in all social networks, Twitter included.

We just hope that all the hype, expectations, and great news that Tron is publishing all the time will soon translate into high market performance, which is the only aspect in which the project has lagged behind a chunk of the crypto verse. Tweets don’t move the market. But they do move users and users will drive the market up, sooner or later.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Tron Loses Grip on Reddit Community after Subreddit Takeover

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As per the critics, Justin Sun has had many marketing missteps of late. The Tesla controversy paled into comparison to the Liverpool FC mistake, and now the erratic CEO has finally gone after the community that has helped support the fledgling coin gain its quick start, showing that too much power in the hands of a few people can go disastrously wrong.

Tesla and Liverpool: The harbingers

The Tesla marketing ploy was enough to harm any company’s reputation – where a CEO announces that a ‘random’ Twitter user will receive what was pictured to be a Tesla Model S. It was announced with the 20 million dollar airdrop that was supposed to be released in March but has yet to see the light of day.

Sun deleted the tweet and selected a “random” twitter user that people found out was a bot, causing many to believe that the whole marketing stunt was just a ploy that was never intended to be honored. This caused a ripple of discontent in the community and was quickly followed up with a colossal mistake when Justin Sun prematurely announced a partnership with Liverpool FC, one of the world’s largest soccer clubs. It is a soccer club that has a worldwide fanbase in the hundreds of millions.

Having a fanbase that big comes with a lot of scrutinies and that scrutiny was aimed squarely at Sun’s announcement. A spokesperson for Liverpool FC said that there was no partnership and such marketing materials were regularly sent to companies so that Liverpool could understand their businesses and see if there was potential for any type of future partnership status.

“We do regularly engage with lots of companies to understand their business better and we have extended an invitation to Tron—along with many others. To be clear, no discussions have taken place.”

Many think it brought the good feelings in the Tron community to an all-time low and critics think that the Tron Foundation, which Sun leads, has not stopped the hapless CEO from poking his own eyes once again.

Reddit in an uproar

Communities on Reddit are a powerful thing. They can make or break many projects – reviving tv shows that are going off the air, influencing political events and even the odd media publicized witch-hunt. The point is that Reddit has become a driving force of the internet and if Reddit is unhappy with you, you had better watch out.

Last weekend, the subreddit /r/Tronix got taken over fully by the Tron Foundation and the visitors are not happy with the decision. One user claims that when Tron had mods in the mod team, they were censoring critical posts made about the GOC network. They also remove posts that put a negative spin on the Tronscan marketplace.

As per the allegations from a number of users, the incumbent mods removed the foundation affiliated mods for this purposes, but it seems that the foundation has found its way back in. All the top mod positions belong to employees of the Tron Foundation.

This has led to many people saying that they are selling off their Tron assets slowly but surely. Many have said that they will not sell all of their coins, citing the need to be diversified, but that their faith was no longer in the project and that this was the end of their active involvement as evangelists of a coin many thought would push Ethereum to the brink.

Being a neutral observer we think that Tron taking over the official Tronix subreddit is not a cool thing as a whole, but it’s not such severe issue which would force people into selling all their TRX holdings. Let’s see how things unfold.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

Liverpool denies partnership deal with Tron (TRX)

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April 23rd cause a flurry of excitement around both the sports and the crypto world as Justin Sun tweeted that Tron had been invited to partner with Liverpool Football Club. This would have been a massive step for the fledgling company as Liverpool is a media giant with hundreds of millions of fans around the world.

The storm immediately following the tweet showed just how fickle both crypto and football could be. There were heavy skepticism and unreserved joy from all parties.

It would seem that the skeptics have won out (for the time being) as Liverpool FC have denied any partnership with Tron. This has been a slap of cold water to crypto-enthusiasts who tweeted flamboyantly optimistic words such as “can’t wait to see Tron’s logo on the famous shirt.”

The real story is a bit muddled

A spokesperson for Liverpool told Decrypt Media that the letter was an informal invitation from the football club that was sent to many companies. This was done so that Liverpool would be able to understand the companies’ business better.

Cliff Edwards, spokesman for Tron, does not agree with the turn of events. He insists that the letter was more specific than that. He says there was no mention of “seeking to understand the business” and directly quoted the video as saying “to connect and explore a partnership,” which is precisely what Justin Sun had tweeted.

As per the critics, the problem was that Justin Sun has become defensive when replying to critics. Many told him that the wording used in the video was not about an official invitation but was somewhat more opaque than that. Sun insisted that the envelope was an official invitation. There were others who tweeted him emails received by many crypto companies that were obvious scams and even accused the Tron CEO of “lapping it up” instead of ignoring it as most people would.

The true story might be a little more nuanced. The Liverpool spokesperson did say that the red envelope was sent to various companies and it could be possible that they sent one to Tron as well. However, what Liverpool probably did not expect is Sun running off and immediately showing this initial stage of talks on Twitter. The consensus is that he reacted somewhat badly and that there will be no partnership due to his slip-up.

This is not the first time that the Tron CEO has come under fire for his PR decisions. Just earlier this year, in fact, critics accused him of pre-selecting the winner of a Tesla give-away that Tron was running. The competition was bungled, and it cast a negative light on the company. Many have accused Tron of plagiarizing its white paper to boot.

A Valid basis for partnership

There is, however, a valid basis for the partnership. Tron is foremost an entertainment platform that aims to get money in the hands of creators directly. They could live-stream Liverpool’s games or create video games based on the blockchain and a wide variety of other uses.

However, the problem is that the Premier League controls all streaming rights for league games. That means a partnership with Liverpool would mean nothing for the most important games in the season. We will just have to wait and see if this was a scam done very well, or if it was indeed a botched partnership from a young CEO.

Image courtesy of Pixabay.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.