Jack Dorsey and renowned artist Jay Z aim to increase adoption, especially in the African and Indian regions, with the? Trust initiative, where they donated a total of 500 Bitcoins.
Jack Dorsey, the founder of Twitter, known for his interest in Bitcoin, is starting an interesting rewards program. The aim of the new initiative announced as “trust” is to adopt Bitcoin as the common currency of the internet.
What is Trust?
According to my share by Jack Dorsey, the fund called “trust will support efforts to adopt the use of Bitcoin, especially in Africa and India. Dorsey stated that he will not make any referrals and allocated 500 Bitcoins for the fund.
Jay Z also contributes to the fund. In addition, Justin Sun, the founder of the Tron network, stated that he will donate to the fund in his post. Dorsey stated that he needed 3 board members for his new venture and prepared an application form.
The form says that Bitcoin is intended to be the common currency of the internet. In this regard, it is not fully understood whether the purpose of the? Trust initiative is to support projects or to support Bitcoin mining systems. More precise information will be available on the subject in the coming weeks.
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