BrandArena: Jack Dorsey Appoints Three Nigerians, One South African to the Board of his Bitcoin Trust Fund

Thursday 16 December 2021

Jack Dorsey Appoints Three Nigerians, One South African to the Board of his Bitcoin Trust Fund

Twitter Co-Founder, Jack Dorsey, has appointed three Nigerians and one South African as part of the board of his Bitcoin Trust (BTrust) Fund which will be explored for development in Africa and India.

Dorsey had in February announced the launch of a B Trust in partnership with American music mogul Shawn Carter popularly known as Jay Z.

BTrust is a fund with a 500 BTC capital base worth N10,014,265,775.40 ($24,426,230), when pegged to late Monday’s market price of $48,815.35, and will be overseen by four Africans, without supervision from Dorsey or Jay Z.

The members of the BTrust board as revealed by Dorsey include three Nigerians: Abubakar Nur Khalil, Obi Nwosu, Ojoma Ochai, and South African, Carla Kirk-Cohen.

7000 individuals applied to be a part of the board which was initially meant to be occupied by three directors. The number was subsequently increased to four.

The four board members include: Obi Nwosu who is the Co-founder of Coinfloor, a seed-level cryptocurrency startup, which has raised $300,000 in a funding round. Ojoma Ochai, who is the Managing Partner at CcHUBCreative (Co-Creation Hub), a technology innovation workspace, accelerating startup growth in Nigeria and selected part in Africa – CcHUB has raised $5.5 million to aid its operation; Abubakar Nur Khalil who is a bitcoin core contributor and had received $50,000 in BTC for his work on Bitcoin wallet software from Human Rights Foundation (HRF) in May 2021. Khalil is also the CTO of Recursive Capital, an early-on-stage crypto VC fund, supporting founders building critical web 3.0 infrastructure.

Carla Kirk-Cohen who is a software engineer at Lightning Labs. She previously worked for Luno, a South African cryptocurrency Exchange and Wallet firm, working on the crypto-ops team.

Reports have it that the BTrust funds will be disbursed in India and Africa, however, there is an air of uncertainty on how it will work in Nigeria considering the Nigerian government’s ban on cryptocurrency operations in Nigeria.

Noteworthy also is the fact that the Indian government is also planning on clamping down on the booming cryptocurrency market in the country citing that it could have a negative impact on the youths of the country as an excuse. Only time can tell how the fund will thrive in these two countries.

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