Twitter CEO Jack Dorsey and Jay-Z to set up 500 BTC Blind Bitcoin trust in Africa, and India Despite Looming Crypto Regulations

By: Henry Felix

February 12, 2021 11:48 AM

Jack Dorsey and Jay-Z have revealed plans to set up 500 BTC Blind Bitcoin development Trust valued at $23,7M in Africa and India with both zones faced with heavy crypto regulations in recent times.

It was reported in the early hours of today when an anonymous source claiming to be an official from India's Ministry of Finance claimed the country is set to issue a blanket ban on all forms of cryptocurrency.

African countries such as Uganda, Morocco, and Nigeria in recent moments placed a ban on the use of Bitcoin (BTC) and other cryptocurrencies.

Although, according to recent data which proved India and Africa are leading the race for crypto adoption. Nigeria topped the rank for most bitcoin searches earlier this year according to Google trend data.

On February 12, Jack Dorsey reveals creation of the trust while he sent out a call for three board members to initially oversee the trust. Titled the ₿Trust, the application form for board members reveals the mission statement, “Make Bitcoin the internet’s currency."

Jack Dorsey just donated $1 million on Feb. 10 to Coin Center a Washington D.C based nonprofit organization. Dorsey recently tweeted as he set up a Bitcoin full-node from his Macbook, meaning he now has a have in verifying the Bitcoin blockchain.