Last month, Twitter co-founder Jack Dorsey left his role as CEO of the $ 33.64 billion website to devote himself entirely to Square, which he co-founded with Jim McKelvey in 2010. The San Francisco-based payment company, whose services like Cash App and Tidal, plans to expand further into the world of cryptocurrencies, despite the fact that its platforms already have Bitcoin integration and even its crypto service that is funding Bitcoin development. Square currently holds $ 50 billion worth of Bitcoin.
It appears that Dorsey, a self-proclaimed Bitcoin maniac, used his resignation from Twitter as an opportunity to rebrand. Effective December 10th, Square – or should I say block? – as well as Spiral (formerly Square Crypto) are undergoing name changes to reflect an intent to develop crypto from casual investments into a widely used currency. It’s no secret that Dorsey is a passionate believer in Bitcoin’s potential – a quick scroll through his personal Twitter feed confirms this almost immediately. Additionally, TBD is another Bitcoin-based initiative from Square, with the exception of this one that is entirely dedicated to promoting decentralized bitcoin exchanges.
Dorsey’s vision for Twitter suggests that crypto could become the next trend, akin to the way social media exploded in profitability, funding the flamboyant lifestyles of prominent influencers who see beaches in Dubai and yachts in Monaco. What social media, and now crypto, has shown is that, along with a host of other factors, accessibility – whether it’s uploading a vlog on YouTube or trading Bitcoin – can boom and suddenly become the most important business strategy everyone has behind them want to let. Interestingly, a 2019 report by Bank of America found that downloads from Facebook and Instagram have declined. This has been attributed to why Twitter and Facebook have drawn less corporate attention lately, with this era potentially signaling a niche in the market for the next hype. Elon Musk, the business tycoon of the century, is selling Tesla from social media for the benefit of fintech.
Altcoins are trying to mimic Bitcoin’s success by positioning themselves as superior by improving Bitcoin’s design. Ethereum rolled out smart contracts for crypto, litecoin and dogecoin processes at lightning speed, while Polkadot enables developers to create their blockchains. In competition with 14,000 other cryptocurrencies, HUH Token, which has just been launched on PancakeSwap, is pursuing an alternative approach. It aptly calls itself “Uti-Meme” and aims to become one of the top 10 cryptos by combining the power of meme tokens with the ease of use of utility tokens. Its recently published white paper states: “The token economy will encourage rapid growth in the value of the HUH token, which will be the basis for transactions and rewards through a major social network called ‘MetHUH’ in which users’ data ownership is owned by a Cryptocurrency is taken seriously first perspective. With the social network of the HUH, MetHUH, everyone in the HUH can be rewarded for the exchange of content and commitment. “
Allegedly, HUH cooperates with social media influencers with follower numbers in the range of 100,000 and does not shy away from the competition. The HUH website even reaches out to Elon Musk and promises 50% of the HUH tokens at the time of launch if they are endorsed by him. In addition, they have implemented a reward-based referral system that allows users to benefit from bringing others on board. The stablecoin also aims to reduce Bitcoin’s notorious volatility by locking up $ 1 million worth of liquidity for the next two years and promoting stability and long-term investments through holding incentives. It pays off as there is news from HUH tokens everywhere. Dorsey may even need to rethink his exclusive relationship with Bitcoin for Square as HUH takes over the crypto scene.
Learn more about HUH tokens here:
Website: https://huh.social
HUH Official Swap- https://swap.huh.social/
Telegram: https://t.me/HUHTOKEN
Twitter: https://twitter.com/HuhToken
Instagram: https://www.instagram.com/huhToken/
Contact the Huh Token Project at [email protected]
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