- On Thursday, Samson Mow announced the launch of JAN3, his new startup.
- JAN3 has already signed a memorandum of understanding to help develop and construct digital infrastructure in El Salvador.
- To develop Bitcoin City, Mow and El Salvador’s president, Nayib Bukele, and the country’s administration will collaborate.
On Thursday, Samson Mow, the inventor of Pixelmatic and former chief strategy officer of Blockstream, said he had launched a new firm named JAN3. This firm will concentrate on assisting in the growth of Bitcoin acceptance.
JAN3 has already signed an agreement to aid in the establishment and development of digital infrastructure in El Salvador, according to Mow.
“It’s a broad MOU,” Mow explains, “that states we’ll collaborate to construct digital infrastructure for the country and for Bitcoin City.”
The Bitcoin entrepreneur went on to say that deciding to aid El Salvador was simple. “I just started my company and asked if you wanted to collaborate?” “They said, ‘Sure,'” I said.
Mow, El Salvador’s president, Nayib Bukele, and the country’s administration will collaborate to create Bitcoin City. This is said to be a development that will rely on geothermal energy from nearby volcanoes. This will be used to power both Bitcoin mining and the city’s infrastructure.
The firm has already secured roughly $ 21 million in the capital at a valuation of $100 million, according to JAN3’s Twitter account, which has a growing following of about 3,300 people.
Alistar Milane, the CIO of Atlanta Digital Currency Fund, Chun Wang, the co-founder of crypto mining startup F2Pool, and El Zonte Capital, a new investment fund created by noted Bitcoin bull Max Keiser, led the financing round. Sacy Herbert, his wife, was also involved.
Mow is speaking at the Bitcoin 2022 conference and has already announced the use of Bitcoin as legal cash in two additional jurisdictions: the Caribbean and Madeira.