Rapper Jay Z, Jack Dorsey invest $23.6m to fund Bitcoin development in Africa
According to TechCrunch, Rapper Jay Z and Twitter and Square CEO Jack Dorsey have demonstrated their endowment into funding bitcoin development in Africa and India.
The Duo said they won’t be giving any direction to the various team that would be in charge of the project, stating further that the fund will be set up as a blind irrevocable trust.
“It‘ll be set up as a blind irrevocable trust, taking zero direction from us,” Dorsey stated.
Rapper Jay Z and Dorsey will both put 500 bitcoins, which is currently worth $23.6 million, in the endowment called trust.
Bitcoin advocate Dorsey recently tweeted that the funds will go into a new endowment trust named “trust” initially focused on those two areas.
Despite the embrace of Crypto worldwide, Nigeria’s central bank (CBN) still give blind attention towards crypto as they recently placed a ban on crypto exchanges in all its financial institution.
Click Here for the trust board membership form