Twitter CEO, Jack Dorsey, and rapper, Jay-Z, are giving 500 bitcoins to a new endowment fund, dubbed ₿trust, to fund Bitcoin development, initially focused on teams in Africa and India.
The fund is currently in search of 3 board members that will run the trust independently.
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SEE ALSO: Africa Will Define the Future, Especially the Bitcoin One, Says CEO, Twitter
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According to Jack, the fund will be set up as a blind irrevocable trust, taking zero direction from him and Jay-Z.
The initiative seem to have gotten attention from key and influential people including:
- CEO, Binance
- Founder, Reddit
- CEO, Lightning Labs
- CEO, TRON
- Founder, Bitcoin Foundation
Jack is a well-known advocate of bitcoin and decentralization, especially in Africa, having recently announced his move to fund a standard for decentralized social media.
The Twitter CEO also recently tweeted a photo of his bitcoin node.
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RECOMMENDED READING: Africa Will Define the Future, Especially the Bitcoin One, Says CEO, Twitter
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