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

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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. 

नमस्ते संसार

हामीले ₿ट्रस्ट स्थापना गर्न कडा मेहनत गरेका छौं। सुरु गर्नको लागि, हामीले हाम्रो कार्य सूचीलाई उच्च स्तरका लक्ष्यहरूको सेटमा विभाजन गरेका छौं।

यी प्रत्येक कार्यलाई सावधानीपूर्वक सोच्न आवश्यक छ। हामी आगामी हप्ताहरूमा व्यक्तिगत वस्तुहरूमा समुदायबाट प्रतिक्रिया अनुरोध गर्नेछौं!

— 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.”

Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys

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

"यसलाई सकेसम्म पारदर्शी राख्नु हाम्रो लागि धेरै महत्त्वपूर्ण छ," उनले भने। "हामी प्रक्रिया, हाम्रो सोच र हामीले मुख्य रूपमा ट्विटर मार्फत अगाडि बढ्ने चीजहरूको बारेमा धेरै कुरा गर्नेछौं।"

अनि तिनीहरूले गरे। त्यो प्रक्रिया कस्तो देखिन्छ र Btrust ले आगामी महिनाहरूमा के काम गरिरहेको छ भनेर अन्वेषण गरौं।

निम्न 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

हामीले हाम्रो काममा प्रत्येक सिद्धान्तलाई कसरी लागू गर्ने भनेर हामी रूपरेखा गर्नेछौं।

बोर्डहरू सिद्धान्त अनुसार काम गर्न बाध्य छन्, तर कार्यान्वयन उनीहरूको विशेषाधिकार हो।

यसले लचिलोपन प्रदान गर्दछ, जबकि ₿ट्रस्टको दृष्टिमा सत्य रहन्छ।

— btrustteam (@btrustteam) January 11, 2022

अर्को चरण महत्त्वपूर्ण छ, "एकाइ र अधिकार क्षेत्र।" Btrust कुन अधिकार क्षेत्र अन्तर्गत सञ्चालन हुनेछ? तिनीहरूले कस्तो प्रकारको संस्था छनौट गर्नेछन्? "Btrust लाई कर्मचारीहरू भर्ना गर्न, बोर्डमा सम्झौता गर्न र प्रतिनिधिहरूलाई जवाफदेही बनाउन कानुनी प्रणाली प्रदान गर्न औपचारिक निकाय चाहिन्छ।" 

यस सम्बन्धमा नुर खलिलले ब्लकवर्कलाई भने:

“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.”

सम्बन्धित पढाइ | सर्पिल BTC ले लाइटनिंग विकास किट जारी गर्यो। ज्याक डोर्सीको कठपुतलीले यसलाई बढावा दिन्छ

यस सम्बन्धमा नुर खलिलले ब्लकवर्कलाई भने:

"हामी केको लागि अनुकूलन गर्न कोशिस गर्दैछौं बिस्तारै चीजहरू गर्न कोशिस गर्दैछ किनभने त्यहाँ धेरै छ र हामी इकोसिस्टमलाई मात्र हेर्दैनौं र यसमा पैसाको गुच्छा मात्र फाल्ने छैनौं। हामी अझै पनि प्रभाव के हो भनेर सावधान रहनु पर्छ। ”

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.

मूल स्रोत: समाचार बीटीसी