Samson Mow, the former chief strategy officer at Blockstream and founder Pixelmatic, announced on Thursday that he had started JAN3, a company that will be focusing on Bitcoin adoption.
According to Reuters, the Chinese-Canadian Bitcoin entrepreneur said that JAN3 had already signed a memorandum for understanding in order to help develop digital infrastructure in El Salvador.
“It’s a general memorandum of understanding that states we will work together to create digital infrastructure for the country as well as for Bitcoin City.”
Mow said that it was easy to decide for JAN3 El Salvador to partner with them. “I just started my company, and I asked ‘do we want to work together?’ They said “yes.”
Mow and his firm will be working alongside Nayib Bukele, El Salvador’s President and the government of El Salvador, to help in the establishment Bitcoin City. This development will reportedly make use of geothermal power from nearby volcanoes for Bitcoin mining and the city’s infrastructure.
JAN3 recently launched a Twitter account. It boasts 3,300 followers and is growing rapidly. The company has raised $21 million in funding, at a value of $100 million.
Alistair Milne was the CIO at Atlanta Digital Currency Fund. Chun Wang is the cofounder of crypto mining company F2Pol. El Zonte Capital was also founded by Max Keiser and Stacy Herbert.
This news was announced by Mow at the Bitcoin 2022 Conference. Mow said that two new jurisdictions, Madeira (an autonomous region of Portugal) and Roatan (the Caribbean island of Roatan), would adopt Bitcoin as legal tender. Mow also mentioned Mexico but the country is still considering it.
Related: Bitcoin 2022: Thiel labels Buffett “sociopathic”, Mexican billionaire holds 60% of BTC
“JAN3”, the name of Bitcoin, is a reference Jan. 3, 2009, when Satoshi Nakamoto, a pseudonymous founder of Bitcoin, mined the first block, also known as “genesis block” — Bitcoin. The company’s first tweet, a play on the nameake, was a reference to The Times headline of that day.