Earlier today, Twitter CEO Jack Dorsey announced a partnership with hip-hop tycoon and billionaire Sean Carter, aka Jay-Z, to create a Bitcoin development fund initially focused on teams in India and Africa.
The donation will be called “₿trust” and the pair will start it with 500 bitcoin, currently valued at more than $ 23 million. ₿trust is recruiting three board members, which Dorsey is soliciting through the relatively informal Google Forms platform.
The board member’s app has a simple message at the top: “mission: make bitcoin the currency of the internet”. It can be filled in with a pseudonym and asks candidates to simply submit a free written description of their credentials, in a field entitled “proof of work”.
Although details are still scarce, an important factor to note at this point is that the donation is being established as a blind and irrevocable fund. In other words, Dorsey and Carter will have no say in how the donation works.
The fact that this investment is partially focused on Africa should come as no surprise, as Dorsey has visited the continent several times, including public plans to move to Africa in 2020, before the world was paralyzed by the pandemic COVID-19.
Dorsey’s digital payments company, Square, has also worked to foster the development of Bitcoin with donations through its cryptocurrency-focused division, Square Crypto.
