Twitter CEO partners with Jay-Z on $23M bitcoin development fund – Jon Porter

Bitcoin Cryptocurrency Illustration
Photo illustration by Alain Pitton/NurPhoto via Getty Images

Twitter CEO Jack Dorsey and musician Jay-Z have pledged 500 bitcoin (around $23.3 million) toward ₿trust, an endowment to fund bitcoin development, Dorsey announced on Twitter today. The CEO said development will initially be focused on teams in Africa and India, but that he and Jay-Z plan to give “zero direction” to the plans. ₿trust is currently looking for three board members, with an application form noting its mission is to “make bitcoin the internet’s currency.”

Africa and India are two interesting markets in which to focus bitcoin development. As TechCrunch notes, cryptocurrencies have grown increasingly popular throughout the African continent for making cross-border transactions cheaper, and in some cases being resistant to…

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