Kraken awarded grant to Black Bitcoin Billionaire

Kraken announced last Wednesday, October 6, through its Twitter account, that it has awarded its latest grant to Black Bitcoin Billionaire, the largest organization aimed at promoting diversity in cryptocurrencies.

Image on Kraken’s Twitter post

“Kraken is pleased to award its latest grant to Black Bitcoin Billionaire, the largest organization aimed at promoting diversity in cryptocurrencies. As part of our continued efforts to lead the global adoption of digital assets, we are donating $150,000 in BTC to Black Bitcoin Billionaire, funds that will be used at the group’s discretion to fund grants to Bitcoin and cryptocurrency entrepreneurs from minority communities”, he said through from an article published on their website.

The company indicated that the funding will further support Lamar Wilson (@bigmarh) and Isaiah Jackson (@bitcoinzay), founders of Black Bitcoin Billionaire, as they launch a series of ‘Tech Demo Days‘ where aspiring crypto entrepreneurs will compete for funding.

In addition, he highlighted that the first of a planned series of three Demo Days will take place on Wednesday, October 20, during which time the group will allow entrepreneurs to present their ideas.

“In 2020, approximately 13% of black households in the US were unbanked. This is a massive failure of our legacy financial system, for which there is no public alternative of last resort”, said Jesse Powell, CEO of Kraken. “Being unbanked is costly and disproportionately affects our poor and minority communities. Bitcoin offers respite to the roughly 1.7 billion unbanked adults in the world – a new financial system for the people, for the people. The only barrier now is education”.

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For his part, Lamar Wilson added that “we are fundamentally concerned with education and support for the Black Bitcoin community. By working with companies like Kraken, we will be able to invest in technology that will develop ideas into tangible products or services. We couldn’t be more excited”.

To date, Kraken has awarded grants to projects such as Gitcoin, Brink, and BTCPay Server, which promote the major open source cryptocurrencies that are traded on our global exchange.

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