The 500 BTC Blind Trust to Foster Bitcoin Adoption, Btrust, Announces First Steps

Minn NewsBTC - 2 snin ilu - Ħin tal-Qari: 4 minuti
L-Erbgħa, 12 Jannar, 2022 5:29 AM

The 500 BTC Blind Trust to Foster Bitcoin Adoption, Btrust, Announces First Steps

It’s time for the Btrust to start making moves. And they did so by announcing their “to-do list” and “high level goals.” A month ago, Block CEO Jack Dorsey and rapper and entrepreneur Jay-Z announced the members of the board for their 500 BTC blind trust. Btrust’s purpose is to “make bitcoin the internet’s currency” and their field of action is Africa and India. 

Hello dinja

Ilna naħdmu ħafna biex inwaqqfu ₿trust. Biex nibdew, qsamna l-lista tal-affarijiet tagħna f'sett ta' għanijiet ta' livell għoli.

Kull wieħed minn dawn il-kompiti jeħtieġ ħsieb bir-reqqa. Aħna ser nitolbu feedback mill-komunità dwar oġġetti individwali fil-ġimgħat li ġejjin!

— btrustteam (@btrustteam) January 11, 2022

Said members of the board took charge and recently showed the world what they’ve been working on since they did so. “Each of these tasks require careful thought. We’ll be requesting feedback from the community on individual items in the weeks to come!,” Btrust said in its inaugural Twitter thread. Before going through those tasks, though, let’s remember who those members are. At the time, NewsBTC reported:

“The blind trust’s board members are: Ojoma Ochai, Obi Nwosu, Abubakar Nur Khalil, and Carla Kirk-Cohen, the only South African of the bunch. By just casually looking at their Twitter feeds it becomes obvious that they’re all thoroughly dedicated to Bitcoin already.”

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In a recent interview with Blockworks, 22-years old Abubakar Nur Khalil said:

"Huwa importanti ħafna, ħafna għalina li nżommuha trasparenti kemm jista' jkun," qal. "Se nkunu qed nikkomunikaw ħafna dwar il-proċess, il-ħsieb tagħna u l-affarijiet li se nkunu qed nagħmlu billi nimxu 'l quddiem primarjament permezz ta' Twitter."

U hekk għamlu. Ejja nesploraw kif jidher dak il-proċess u x'se tkun qed taħdem fuqu l-Btrust fix-xhur li ġejjin.

Wara Bitcoin’s lead, the first thing the Btrust will do is to establish “Genesis Principles.” In other words, “Btrust’s vision will be laid out in an immutable set of principles.” Everybody involved in the organization will follow them, and there will be the option of using soft-forks and hard-forks to resolve disagreements or to accommodate different visions. 

There’s another caveat, “Boards are bound to act in accordance with the principles, but the implementation is their prerogative. This provides flexibility, while staying true to Btrust’s vision.” So far, so good. This all sounds very Bitcoiny.

2⃣ Implement Principles

Aħna ser niddeskrivu kif se nimplimentaw kull wieħed mill-prinċipji fix-xogħol tagħna.

Il-bordijiet huma marbuta li jaġixxu skont il-prinċipji, iżda l-implimentazzjoni hija l-prerogattiva tagħhom.

Dan jipprovdi flessibilità, filwaqt li jibqa' leali mal-viżjoni ta' ₿trust.

— btrustteam (@btrustteam) January 11, 2022

Il-pass li jmiss huwa kruċjali, "Entità u Ġurisdizzjoni." Taħt liema ġurisdizzjoni se topera l-Btrust? X'tip ta' entità se jagħżlu li jkunu? "Btrust teħtieġ entità formali biex timpjega impjegati, tikkuntratta l-bord u tipprovdi sistema legali biex iżżomm lir-rappreżentanti responsabbli." 

B’rabta ma’ dan, Nur Khalil qal lil Blockworks:

“We’re looking at starting with Africa initially, but then gradually expanding into other regions in the global South,” Nur Khalil said. “So that’s places like India as well. And then in general, with regards to the overall vision, we feel there’s so many disparities in some of these regions like Africa in terms of the actual amount of talented developers versus those of them that are actually working on Bitcoin".

This is a great opportunity to test out Bitcoin’s multisig superpowers. “We will work on a proposal outlining various custody solutions, with the end goal of safely taking custody of the 500 BTC.” Also, important for people out there looking for opportunities, Btrust will be hiring “a full time lead to manage daily operations.”

5⃣ Recruit a Lead

Once we’ve delivered 1⃣,2⃣ and 3⃣, we will be looking to hire a full time lead to manage daily operations of ₿trust.

This is one of the most important board responsibilities, and we’re looking forward to finding somebody to bring ₿tust's vision to life!

— btrustteam (@btrustteam) January 11, 2022

Last but not least, they’ll create some way of communicating with all of you. “We’re committed to building Btrust with input from the Bitcoin community. For now, we’ll be using twitter to communicate our progress, but it’s not scalable.” And they’ll raise funds to set up the organization. “We want to take our time to think about our approach to custody & company formation. This is a prerequisite for any investment. We’ll create a separate plan for how to cover any required set up funding.”

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B’rabta ma’ dan, Nur Khalil qal lil Blockworks:

“​Dak li qed nippruvaw ottimizzaw għalih hu li nippruvaw nagħmlu l-affarijiet gradwalment għax hemm ħafna u mhux se nħarsu lejn l-ekosistema biss u nafgħu mazz ta’ flus fuqha. Għad irridu nkunu metikolużi dwar x’inhu l-impatt.”

Great work so far, Btrust. We at NewsBTC are looking forward to covering your next steps and seeing what the future brings for the organization, Bitcoin, Africa, and India.

Sors oriġinali: NewsBTC