Three Nigerians have been appointed as board members of Jack Dorsey’s Bitcoin Trust (BTrust).
The founder of the popular microblogging platform, Twitter, Jack Dorsey announced the appointment in a statement on his Twitter page on Wednesday.
He appointed three Nigerians and one South African to act as the board of his Bitcoin Trust (BTrust) fund which will be expended for development in Africa and India.
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 $48,815.35, and will be overseen by four Africans, without supervision from Dorsey or Jay Z.
Jack Dorsey disclosed the identities of the BTrust board, three of whom are Nigerians; Abubakar Nur Khalil, Obi Nwosu, Ojoma Ochai, and South African, Carla Kirk-Cohen.
Who are BTrust board members?
The individuals were selected from a pool of 7,000 applicants who applied to be on the board, which was initially meant to be occupied by three directors.
Obi Nwosu is the Co-founder of Coinfloor, a seed-level cryptocurrency startup, which has raised $300,000 in a funding round.
Ojoma Ochai 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 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 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.
While the BTrust funds will be disbursed in India and Africa, it’s unsure how it will work in Nigeria considering the Central Bank of Nigeria (CBN) has banned cryptocurrency activities in Nigeria.