On April 7, Samson Mow, the former chief strategy officer of Blockstream and the founder of Pixelmatic, announced the launch of JAN3, a new firm dedicated to increasing Bitcoin adoption. According to the Chinese-Canadian Bitcoin entrepreneur, JAN3 has already signed a memorandum of understanding to aid in the development of “Bitcoin City” in El Salvador. He remarked:
“It’s a general MOU that says we’ll work together to build digital infrastructure for the country and for Bitcoin City.”
Mow stated “I just set up my company and I said ‘do you want to work together?’ and they said sure,'” adding that the decision for JAN3 to collaborate with El Salvador was simple.
He also explained that the name “JAN3” is a tribute to Satoshi Nakamoto, Bitcoin’s pseudonymous creator, who mined the first block — commonly known as the “genesis block” — on January 3rd, 2009.
Mow and his new firm will collaborate with El Salvador’s President, Nayib Bukele, and the country’s government to help build Bitcoin City, a project that would purportedly use geothermal energy from neighbouring volcanoes to power Bitcoin mining and the city’s infrastructure.
According to JAN3’s Twitter account, the company has recently raised $21 million in capital at a $100 million valuation. Alistair Milne, CIO of Atlanta Digital Currency Fund, Chun Wang, co-founder of crypto mining business F2Pool, and El Zonte Capital, a new investment fund created by notable Bitcoin bull Max Keiser and his wife, Stacy Herbert, led the funding round.
The news comes after Mow announced at the Bitcoin 2022 Conference that two additional jurisdictions — the Caribbean island of Roatán and Madeira, a Portuguese autonomous unit — would be accepting Bitcoin as legal cash. Mexico was also suggested by Mow, although the country is still debating the proposal.
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