Jay Z and Twitter boss team up to make bitcoin ‘internet currency’

Shareif Ziyadat via Getty Images

Jay Z and Twitter boss team up to make bitcoin the “currency of the internet” (Illustrative photo of Shawn ‘Jay-Z’ Carter at a 2019 conference in New York City by Shareif Ziyadat / Getty Images)

BITCOIN – Jack Dorsey, the founder of Twitter, announced this Friday February 12 the creation with rapper Jay Z of a foundation to finance the development of bitcoin as an “internet currency”.

“Jay-Z and I will be donating 500 bitcoins to a new endowment named Btrust to fund bitcoin development, which will initially be focused on teams in Africa and India,” tweeted Jack Dorsey, also boss of Square, a service company. of payments. 500 bitcoins were worth some $ 24 million on Friday.

“It will be a blind trust, which will not receive any direction from us,” he said, before referring to a link for applications for the first three board positions. According to the application page, Btrust’s mission will be to “make bitcoin the currency of the internet”.

A decentralized governance model for the internet

Canadian authorities on Friday authorized the launch of the world’s first exchange-traded bitcoin fund, giving investors greater access to the cryptocurrency.

Despite its sulphurous reputation – bitcoin is suspected of being used for illegal transactions – cryptocurrency is gaining its fame thanks to investments from large companies.

On Monday, Tesla invested $ 1.5 billion in bitcoin and plans to accept virtual currency as a form of payment for its cars. In October, online payments giant Paypal launched a cryptocurrency buying, selling and payment service, while Square announced that it had invested $ 50 million in bitcoin.

BlackRock, which manages trillions of dollars on behalf of funds administering the pensions of civil servants and companies or wealthy fortunes, also brought its legitimacy by adding at the end of January the virtual currency to the list of financial products in which it could invest.

Jack Dorsey has never made a secret of his interest in bitcoin, which he sees as a model of decentralized governance for the internet.

See also on HuffPost: Bitcoin in 5 questions, by Jake Adelstein

Source: Le Huffington Post by www.huffingtonpost.fr.

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