Twitter CEO Jack Dorsey and Jay Z launched a Bitcoin development fund. Twitter and Square CEO Jack Dorsey is going on a new collaboration with rapper Jay Z to fund bitcoin development that began in Africa and India.
Dorsey and Jay Z invested 23.6 million dollars to finance bitcoin development. Dorsey shared via Twitter today that he has created a donation to fund bitcoin development in Africa and India.
Jack Dorsey announces development fund via Twitter
The two put 500 Bitcoins worth $23.6 million in the first place on the fundraiser, which they called Btrust. Dorsey also said the fund would be established as a blind trust that could not be undoed, adding that the two would not give any direction to the team.
In addition, Btrust wants to hire three board members. At the same time, the job application explains that the fund’s mission is to “make Bitcoin the currency of the internet”.
Dorsey did not provide much information about the funding system he announced with his sharing, except for the hiring of a three-member board member.
At a time when India was leading its investors to divest their cryptocurrency assets and would ban cryptocurrencies al-during the transition period, Jack Dorsey’s move was bizarre on his followers’ side.