Twitter CEO Jack Dorsey has announced the creation of a blind Bitcoin (BTC) development trust worth 500 BTC ($23.7 million), along with rapper Jay-Z, for teams working on the project in Bharat and Africa.

Dorsey revealed the creation of the trust on Feb. 12 while sending out a phone call for three board members to oversee the blind trust initially.

Dubbed the ₿Trust, the application form for board members reveals the mission statement, "Brand Bitcoin the internet's currency."

The Twitter CEO'southward tweet appeared just hours after news bankrupt concerning India'south alleged plans to completely ban the apply of cryptocurrencies within its borders. The earth's second-most populated country could soon move to ban all crypto-assets, giving users a 3–half-dozen month grace menstruum to liquidate their holdings, according to an anonymous source who spoke to Bloomberg.

On Feb. 10, Jack Dorsey donated $1 million to the Washington D.C-based nonprofit organization Coin Center which as well received a $2 million donation from asset direction house Grayscale. Dorsey's ongoing infatuation with Bitcoin recently saw him set up a Bitcoin full-node from his Macbook, significant he now has a hand in verifying the Bitcoin blockchain.