- US rapper Jay-Z and Twitter CEO Jack Dorsey have raised a 500 Bitcoin (R346 million) fund for the for the development of Bitcoin in Africa
- Jack shared that they just need three board members to start the project
- Jay-Z and Jack Dorsey will not be directly involved in the running of the project
Jay-Z and Twitter CEO Jack Dorsey have teamed up to establish a new Bitcoin fund for the adoption of Bitcoin in African countries and India.
Jack took to Twitter a few days ago and shared that he and the hip-hop mogul have both invested 500 Bitcoin (worth about R346 million) into the project. Jack tweeted:
"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."
Jack explained that he and the US rapper will not be directly involved as far as running of the trust is concerned hence they need the board members to start the project. Social media users have shared mixed reactions to Jack's post. Check out some of their comments below:
"No disrespect Jack but such 500 BTC new endowment should be set up in places suffering from hyperinflation like Lebanon who need these funds the most cos their banks aren't favouring them, moreover a lot of African countries are kicking against Bitcoin or anything cryptocurrency."
"I am the founder of BitPesa - first African exchange for Bitcoin and first to connect Bitcoin to mobile money in 2013 - grew the company across 13 African markets and work with regulators, banks, aggregators across 3 continents. Have offices in Nairobi, Lagos and Dakar."
"This is the future."
"I am happy to support and donate to trust to fund #Bitcoin development. Africa and India is my top priority!"
"India has banned bitcoin. Safe to say these funds can help neighbouring countries like Pakistan, who are now accepted bitcoin."
"Bitcoin is a massive waste of energy and nothing more than a digital scheme. We cannot afford such wasteful fantasies."
In other entertainment news, Briefly.co.za reported that Kendall Jenner has shared her first snap together with NBA star Devin Booker. Kendall took to her Instagram Story on Valentine's Day and posted a pic of the Phoenix Suns player cuddling her while she had a huge smile on her face.
The super-model also tagged her bae on her 14 February post. The stunner has been linked to Booker since April 2020. Kendall and Booker were reportedly spotted together in Tahiti in October during Kim Kardashian-West's 40th birthday.
Social media users took the snaps the catwalk beauty posted on Instagram and shared them on Twitter. Most of the tweeps shared that Kendall and Booker look cute together. A tweep @eisha102 commented:
"My heart is melting. Happy Valentine's Day Fave Couple."
Enjoyed reading our story? Download BRIEFLY's news app on Google Play now and stay up-to-date with major South African news!