Jack Dorsey, CEO of Twitter and popular rapper JayZ, have launched a 500 bitcoin fund. The fund's operation focuses on supporting bitcoin network developers from India and Africa. The announcement comes at a crucial time, especially for Indian developers. The government in that country is planning to impose strict regulations on cryptocurrencies. Will Jay-z and Jack Dorsey revolutionize the approach to cryptocurrencies in developing countries? Jay-Z and Jack Dorsey pioneer cryptocurrencies in India and Africa In a tweet, Jack Dorsey also explained that the independent fund will be led by a three-person team, for which Dorsey is currently looking for a leader. The project and its finances are intended to be completely independent of its funders. Dorsey is a well-known supporter of Bitcoin. His Square Inc. project has already become quite popular in the cryptocurrency space. The announcement comes on a day when organizations like BNY bank and Mastercard have announced openness to integrating cryptocurrencies, and Twitter and Uber have revealed that they plan to use Bitcoin as a form of payment and a means to conduct employee paychecks. Bitcoin (BTC) is growing faster than the Internet Bitcoin's current bull market, in which the top cryptocurrency scored a new ATH of $49,000, seems to be preparing the market for mass and mainstream adoption. Financial institutions such as Tesla and MicroStrategy are using BTC as a treasury reserve asset, and growing retail demand has led central banks to consider introducing the ability to purchase Bitcoin directly. The adoption of Bitcoin is compared to the adoption of the Internet by Willy Woo. The popular analyst notes that BTC has the same number of users as the Internet did in 1997. However, the network of users of the most popular cryptocurrency is growing much faster than the number of people using the Internet in its early stages. Developing regions such as Africa and India have taken a passive stance towards the use of Bitcoin and cryptocurrencies, similar to the Internet boom. However, India is now known as the world's IT outsourcing in the world. Jay-Z and Dorsey's willingness to invest so much value in cryptocurrencies should give those in power food for thought. Tags bitcoin dorsey jay z jay-z and jack dorsey Twitter
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