Prominent crypto advocate and CEO of Twitter, Jack Dorsey, went out of his way to highlight a group of Ethiopian-based entrepreneurs looking to encourage the Ethiopian government to fully embrace cryptocurrencies, particularly Bitcoin (BTC). In his tweet early Wednesday, Dorsey shared a particular thread by the group, Project Mano, explicitly trying to convince its government to look into BTC storing and mining.
— jack (@jack) June 15, 2021
Project Mano’s dedicated website outlines three varying BTC-based projects that it is pushing for the country’s government to adopt: BTC hodling, mining, and linking the crypto to the country’s birr or, much like to El Salvador recently, as legal tender.
Project Mano further noted that if the country’s proposed project, called Grand Ethiopian Renaissance Dam, prospers, not only will it lead to the country’s residents having stable electricity, but when utilized as well for BTC mining, it could deliver its economy billions of dollars per year. On top of that, the group also states that if BTC mining is to thrive in the country, the government could also utilize DeFi protocols to expand its BTC holdings further.
All in all, Project Mano implies that embracing BTC should not be feared by Ethiopia as it would provide nothing but advantages.
Notably, following Dorsey’s highlight, Project Mano’s total followers more than doubled – from a mere 500 from when the group shared the thread to now more than 1,000 as of press time.