Ex Twitter CEO and Block CEO Jack Dorsey named the board members to a new endowment named “₿trust” to fund Bitcoin development.
In February 2021, Dorsey, rapper Sean Corey Carter, and aka Jay-Z announced that they would donate 500 BTC to create ₿trust. Bitcoin advocate Dorsey said that the funds will go into “₿trust” initially focused on those two regions, supporting Bitcoin development in Africa and India. According to Dorsey, It is a blind irrevocable trust, taking zero direction from donors.
Dorsey then proposed electing three more board members for the ₿trust.
Today the team selected four out of 7,000 candidates, Dorsey said.
“Over 7000 people submitted their proof-of-work so far. Working to narrow over the weekend and will start interviewing board candidates soon.”
On December 15, Dorsey named four: Karla Kirk-Cohen, Abubakar Nur Khalil, Obi Nvos, and Ojomu Ochay.
“They’ll now work towards defining the operating principles as they think about how to best distribute the 500 bitcoin towards development efforts.”
Announcing the ₿trust board: @actuallyCarlaKC, @ihate1999, @obi, & @ojomaochai! I'm so grateful for you all and so inspired. ?⚡️?
They'll now work towards defining the operating principles as they think about how to best distribute the 500 bitcoin towards development efforts. https://t.co/jwbr4qQUZ2 pic.twitter.com/1MszEPdGKL
— jack⚡️ (@jack) December 15, 2021
In December, payment company Square, founded and led by Jack Dorsey, changed its name to Block to emphasize its commitment to blockchain projects.
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