Twitter’s former CEO Jack Dorsey, who recently resigned to follow his passion for the world’s largest cryptocurrency Bitcoin, has appointed three Nigerians and one South African to act as the board of his recently formed Bitcoin Trust (BTrust) fund targeted at Africa and India.
Jack Dorsey first announced the Bitcoin Trust (BTrust) fund in February this year in collaboration with music magnate and founder of music platform Tidal Jay Z. Jack Dorsey’s Bitcoin Trust fund is a fund with 500 Bitcoin (currently worth almost $50,000) and is targeted for development in Africa and India. The fund will be managed by these four found-to-be worthy Africans without any interruption from either Jack Dorsey or music magnate Jay Z.
In a statement released on Wednesday, Jack Dorsey revealed the identities of the board’s members. They are – Abubakar Nur Khalil, Obi Nwosu, Ojoma Ochai and South African, Carla Kirk-Cohen who were selected from about 7,000 people who applied to be on the board. The board was originally only to have three directors but Jack Dorsey decided to make it four in the end.
Abubakar Nur Khalil is a Bitcoin advocate and core distributor and received $50,000 in Bitcoin for his work on Bitcoin wallet software from Human Rights Foundation (HRF) in May this year. Obi Nwosu is the co-founder of Coinfloor, a crypto startup that has raised $300,000 in funding. Ojoma Ochai is the Managing Partner at CcHUBCreative, a technology innovation workspace pushing for the growth of startups in Nigeria and some parts of Africa. So far, the company has raised $5.5 million to scale its operations. Lastly, Carla Kirk-Cohen is a software engineer at Lightning Labs. She once worked in crypto exchange and wallet company Luno as part of its operations team.
For India, there is not much discussion on how the Bitcoin Trust fund will work. The question only arises for Nigeria where Bitcoin and other cryptocurrencies remain banned. This, sadly, could become an impediment preventing qualified beneficiaries from accessing the trust fund.