If you thought you knew what Twitter CEO, Jack Dorsey’s, latest project is going to be, you’d probably be wrong. This as he has announced a partnership with rapper and all-around entrepreneur Jay Z on a Bitcoin development aimed at Africa and India.
The pair are said to be investing 500 worth of Bitcoin, which is currently valued at roughly $23.6 billion, on an endowment called Btrust. As TechCrunch explains, Btrust will be setup as a blind irrevocable trust, with the pair not providing any guidance as to its direction.
Btrust is hiring though, and looking for three board members in particular to assist with making, “Bitcoin the internet’s currency,” according to a job description of the position.
JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe
— jack (@jack) February 12, 2021
This is not the first time this week that Bitcoin has been mentioned this week, with Elon Musk’s Tesla purchasing $1.5 billion in it on Monday, as well as looking to be the first carmarker to accept it as a form of payment.
With Dorsey and Jay Z’s ambitions a little different, it remains to be seen how the Btrust’s plan to make Bitcoin more accepted in both regions. India for example has been reluctant to embrace cryptocurrencies in general, and while it is known in most countries on the African continent with tech hubs, still faces a lot of scrutiny by governments over perceived volatility.
As such, whomever the three board members are, they have quite the task ahead of themselves if Btrust is to be a success.
Either way, the Roc is in the building (okay, we’ll show ourselves out now).