Blind Trust, a Bitcoin Trust fund, has revealed its board members. Blind Trust was formed by former Twitter C.E.O. Jack Dorsey and U.S. legendary rapper/ businessman Jay-Z (Sean Carter) to enlighten African and Indians about Bitcoin and drive adoption. In addition, they aim to make the flagship currency the “internet’s currency.”
Reports have it that the board consists of four individuals, three from Nigeria, which banned banks from offering and engaging in cryptocurrency services. The individuals would be tasked with making sure Blind Trust achieves its mission in Africa and India.
Dorsey’s call for board members was announced on February 12, 2021, when BTC’s price was about $47K. Initially, the two had requested three board members for a start. Interestingly, they ended up receiving over 7000 applications for the positions.
Bitcoin Fund Will Run In a Decentralized Manner
According to Dorsey and his partner, Blind Trust will run without taking any order from the two. The Bitcoin fund was initially set up as a “blind irrevocable trust,” implying that it will run in a semi-decentralized manner.
The call for the directors was to ensure that the Trust would be run properly in the founders’ absence. Jay-Z and Dorsey are two extremely busy people who will hardly make the time to oversee the Trust and the operations through and through, thus the need to have a team of directors to pilot its affairs.
Dorsey Unveils The Board Members
Dorsey announced the names of the board members on Twitter. While announcing the winners, the former Twitter head expressed his gratitude for the winners. As already stated, the board directors will have full autonomy and decide how best to distribute the 500 BTC for the development of Africa and India.
As previously mentioned, three out of the four chosen board members are from Nigeria. They include Abubakar Nur Khalil, Ojoma Ochai, and Obi Nwosu. The other member is from South Africa, whose name is Carla Kirk-Cohen.
Obi Nwosu took to his Twitter page to share the news. Last month, he explained how the Nigerian ban on crypto helped promote Bitcoin in the country rather than hinder its adoption. Presently, Nigeria is amongst the leading P2P Bitcoin markets globally.
Nur Khalil, a 22-year old Bitcoin enthusiast, and Ochai appreciated Dorsey and Jay for the opportunity, reiterating their commitments to working together with the team to achieve their goals in Africa. As of the time of writing, Kirk-Cohen is yet to make any statement regarding his new position.
Despite the excitement in the air, there are some unsolved questions regarding the appointments of the four new board members. Many opined that an Indian ought to be included since the Trust is directed towards Bitcoin development in Africa and the Asian country. Others doubt that the board members will work independently of Dorsey and Jay, given the massive amount of money involved.