- Kraken announces $ 150,000 grant diversity-based bitcoin group Black Bitcoin Billionaire.
- A total of 4.5 BTC grants were disbursed earlier this summer.
- Black Bitcoin Billionaire will invest in the empowerment of projects and services in the Black Tech community.
Bitcoin Exchange Kraken Black has announced a $ 150,000 grant to Bitcoin Billionaire, an organization focused on promoting inclusion and diversity in the Bitcoin space. The grant was launched earlier this summer, Bitcoin Magazine Learned, for a total amount of 4.5 BTC.
“We fundamentally support education and the black bitcoin community,” said Lamar Wilson, co-founder of Black Bitcoin Billionaire. “By working with companies like Kraken, we will be able to invest in technology that will turn ideas into real products or services. We couldn’t be more excited.”
Kraken said the group would use the funds it received at its discretion to fund projects for bitcoin entrepreneurs from minority communities. Grants will support Wilson and Isaiah Jackson – Co-founder of Black Bitcoin Billionaire – To launch a series of three Tech Demo Days, a pitch competition aimed at funding black tech companies.
“By 2020, about 13% of black households in the United States were bankless,” said Jesse Powell, chief executive of Kraken.
“Being bankless is costly and it affects our poor and minority communities unequally. Bitcoin offers the recovery of an estimated 1.7 billion bankless adults worldwide – a new financial system for the people, for the people. The only obstacle now is education, ”Powell added.
The first demo day will be held on October 20, 2021. The initiative will try to support the Black community exposure and some innovative products and services with Bitcoin, according to its website.