So why Jack Dorsey and Jay Z Started 500 Bitcoin Blind Trust in Africa? They just appointed four board members and now we await to see the many positive moves forward of Bitcoin adoption in Africa and India. Let’s go into further review of what is happening with this amazing Bitcoin trust.
500 Bitcoin Blind Irrevocable Trust
So how much is 500 Bitcoin worth? Well, as of this article writing on January 2, 2022, that equates to $23.2M ($46,400 x 500). And I am sure they are not cashing out of this Bitcoin, but keeping it in a wallet and taking loans out against it. So this 500 Bitcoin will grow in value as the Bitcoin market levels up the closer we get to the next halving in 2024. This was a brilliant move from Dorsey and Jay Z to set up.
BOARD MEMBERS OF THE 500 BITCOIN BLIND IRREVOCABLE TRUST
Dorsey and Jay-z took applicants on the internet. They received 7,000 applicants and out of all of those, they picked out just four (4) board members. They are: Abubakar Nur Khalil, Ojoma Ochai, Carla Kirk-Cohen, and Obi Nwosu. Check out timestamp 2:26 in our video to see each one individually and what they bring to the table for Africa and India. These four members will do an amazing job and excited to see the projects this 500 Bitcoin blind irrevocable trust gets involved with. The brains behind this project from all four board members is off the charts. Let’s go on further analysis to see why Jack Dorsey and Jay Z started 500 Bitcoin blind trust in Africa.
IS JACK DORSEY THE JACK MALLERS OF NIGERIA?
Jack Mallers spent years developing Bitcoin in El Salvador. To help the unbanked in that country. And I think Dorsey is doing the same thing in Africa. Dorsey bought out the majority stake in Tidal, Jay-Z’s musician app company. Jay Z now is on the Board of Dorsey’s Square financial payment app. Moreover, the two seem hand-in-hand coordinating an effort in Africa, especially Nigeria, to help musicians and other creative entreprenuers get access to ease of payment and Bitcoin payments.
This will be a win-win for this bankless society to have safe and profitable measures to support their families. This is just a speculation, and a separate effort is being made by the Board members of the BTrust. In conclusion, I think both men can offer a great deal of support in this area at the same time the Board is working on the development and education in Africa (and hopefully India soon). There are many exciting projects happening in Africa.
TIMESTAMPS FROM YOUTUBE VIDEO
Check out the timestamps from the video we created on this topic. I hope this helps you scrub through the video to areas that you are interested in:
🔥 IN THIS VIDEO WE LEARN (TIMESTAMPS)
0:00 Why Dorsey and Jay Z Started 500 Bitcoin Blind Trust in Africa & India
0:28 Square Buys Tidal
0:44 Tidal Musician’s Platform
1:05 Jay Z Joins Square’s Board of Directors
1:22 Dorsey & Jay Z Partner on Bitcoin Endowment Trust
1:33 Dorsey Looking for Applications for Bitcoin Blind Irrevocable Trust
1:55 Mission of Dorsey Trust to Make Bitcoin the Internet’s Currency
2:05 India Flips Stance on Bitcoin and Regulates It Now
2:16 Bitcoin Booming in Nigeria
2:26 Meet the Trust Board Members
2:50 Who is Abubakar Nur Khalil Bitcoin
3:10 Nur Khalil Bitcoin Core Contributor
3:20 Nur Khalil Founded Qala
3:32 Who is Ojoma Ochai Bitcoin
3:44 Who is Carla Kirk-Cohen Bitcoin
3:55 Who is Obi Nwosu Bitcoin
4:09 Obi Nwosu Founded Coinfloor
6:25 Dorsey to Become the Jack Maller of Africa?
6:45 Africa Crypto Market Grows 1200% Since 2020
7:06 Why Africa Believes the World Needs Bitcoin
8:05 Africans Leading the Way in Hyperbitconization
8:25 African Musicians Profit with User-Owned Internet
8:41 Possible Dorsey & Jay Z Goal for Tidal in Africa-Commentary
9:41 Dorsey, Square, CashApp & Tidal, Possible Goal for Africa Musicians Commentary
12:13 Nigeria Leader in Bitcoin Adoption Marketplace