Friday, December 8

The ₿trust board of directors plans to use 500 BTC for developments soon

An organization called “₿trust” has shown interest in starting very early with the development of its momentum in the crypto world. The board of directors, made up of the founder of Twitter (Jack Dorsey), among others, intends to start with an investment of about 500 Bitcoins.

In addition, it is clarified that the support from other cryptocurrency firms is already present.

Team formation

In creating this organization (from Jack Dorsey in conjunction with rapper Jay-Z), a team was put together to manage the next steps. This group would aim to carry out the necessary actions to expand the crypto sector in various parts of the world.

For now, the board of directors plans to start in Africa, including other nearby regions, like India, for example. One of its members, Abubakar Nur Khalil, 22, issued comments regarding what ₿trust will execute soon.

He spoke about the initiative the organization would take to support the development of the crypto infrastructure. This, by providing logistical help to entrepreneurs, both in education and ecosystem planning.

“We want to start with Africa first, but then gradually expand it to other regions of the global South,” he said. The members of this initiative would seek to promote the industry so that Bitcoin is “the currency of the Internet.”

Faced with the possibility of creating a new infrastructure, it is clarified that the procedures will be carried out with “transparency”. “We will communicate a lot about the process, our way of thinking and the things that we are going to do in the future, mainly through Twitter,” he mentioned.

On the other hand, the formation of the team would look for any method to specify the financing. It is expected that in addition to considering cryptocurrency exchanges, ₿trust will comply with the financial regulations of the countries. They will turn to local currencies if they were not allowed to circulate with cryptos.

The beginning of the plan

While preparations are being made to start the development of the following objectives, the grouping rushes. However, they have a meticulous and cautious technique as their flag. They want to undertake the new initiative hand in hand with progressive advancement with each step fully studied.

Considering the arrival of 2022, the ₿trust board of directors intends to put the plan into action as soon as possible.

They hope that in the coming months they will be able to start using logistics in Africa, bearing in mind that they are already located in that region. However, despite all that has already been noted, both Dorsey and Nur Khalil do not mention a specific date.

On the other hand, not only those 500 BTC would be invested, since part of the crypto community has expressed its support for the project. Personalities such as Binance CEO Changpeng Zhao said he will be “happy” to donate to the initiative.

In the same way, the founder of the crypto TRON supported the formation of the team.