Dharma, a blockchain banking solution, has applied Social Payments, a new feature, for allowing users to send US dollars to any Twitter handle.
Dharma Enables ‘Social Payments’ to Send Dollars via Global Twitter Handles https://t.co/FaEc6NJir0 pic.twitter.com/bRB9tyxxzV — Gabrian Pac (@OpdWorld) April 22, 2020
On April 21, it has been reported in a tweet that the move explained payments can be made regardless of geographical location or whether the recipient has a Dharma account.
1/ 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. pic.twitter.com/8sZ8MxxYvO — Dharma (@Dharma_HQ) April 21, 2020
However, Dharma users can make payments to Twitter handles from directly within their Smart Wallet, as long as there are sufficient funds in their account. The only further step is to retweet the payment to a twitter bot, tagging the recipient so that they are notified.
It has been analyzed that payment recipients must follow the link sent by the bot to set up a Dharma account and connect this to their Twitter account to claim the money.
As per all deposits in Dharma accounts, the balance will be earning interest through Compound, even before it is claimed.
Likewise, Dharma lists a number of potential uses, including tipping of micropayments, cross-border charitable donations, and accepting business payments.
As per the report, Dharma is not the first company to implement such a solution. In fact, the Brave browser launched a Twitter tipping service utilizing its Basic Attention Tokens (BAT) in August 2019.
In January 2020, Twitter itself was reportedly interested in incorporating such a feature, thus, a spokesman at the time denied that this was currently in development.