The world’s biggest tech company is launching an experiment to try to find out.
The company behind Twitter, Twitter Cash, is launching a crowdfunding campaign to raise funds to fund a new product that can help people get rid of their credit cards and make their online banking experience even more convenient.
Twitter has long been a leader in the technology space, and its new initiative is an attempt to take a big step in that direction, according to CEO Dick Costolo.
The startup hopes that by using bitcoin and other cryptocurrencies, it can bring a simpler and more secure financial experience to consumers.
“People want a secure way to spend their money,” Costolo told Recode.
“We believe that we can build that on top of Bitcoin, which is already built into our platform.”
Bitcoin is a digital currency that’s based on cryptography and peer-to-peer transactions.
But the technology isn’t new.
There’s no central authority, no government to regulate.
There are also no centralized exchanges.
Instead, bitcoin transactions are carried out online, and they’re overseen by the same trusted and secure network that makes it possible for consumers to transfer money to and from one another.
That’s the same network that’s responsible for handling Visa and MasterCard payments.
Costolo said the company is still in its early stages of testing the new product, which he said is based on a technology called a bitcoin micropayment network.
Micropayments, which are currently used by more than 100 countries, are used to pay for services like online purchases.
That allows users to pay with bitcoin without having to send money directly to a bank or credit union.
The payment can then be processed on the network by a third party.
It’s a much simpler way to do payments than paying with a credit card, and it’s also much more secure than traditional payment methods, such as cash or checks.
But it’s still very much a new technology, Costolo said.
“We are very, very early in our development of the new technology and we’re not ready to tell you what it will be,” Costello said.
“But what we’re seeing is a very real opportunity for a new form of digital commerce.”
Twitter’s new micropaying system has been around for a long time, and Costolo has been bullish on the technology for years.
Earlier this year, he told Recade that he believes bitcoin will play a large role in the future of commerce.
“Bitcoin will be the next big thing,” Costallo said.
But this new crowdfunding campaign is being launched by Twitter’s board of directors, and the company plans to raise $1.5 million in order to launch the new service.
The company said that it expects to have a working product by the end of the year.
“As we continue to experiment with the platform and make sure it works, we’re making progress towards the product that we’re excited to be launching,” Costaro said.
For now, the company has two ways of funding its micropaysment venture: a crowd-funded campaign, or a pre-ICO, which has been going on for a while.
The new crowdfunding effort will launch on September 14, with the goal of raising $2 million to launch Twitter Cash.
The goal is to raise a minimum of $1 million before the campaign closes.
The new campaign will also open to those in the United States, Canada, the United Kingdom, and Ireland.
For more on the future in technology, watch Recode’s Video Podcast: Bitcoin and the Future of Money, which aired this week on Recode: