Samson Mow to Assist In Building Bitcoin City In El Salvador

Former chief strategy officer of Blockstream and the founder of Pixelmatic, Samson Mow,  said on Thursday that he has started a new company called JAN3. This company will aim its focus on helping increase Bitcoin adoption numbers.

Mow also told Reuters that JAN3 has already signed a memorandum to assist in building and developing digital infrastructure in EL Salvador.

According to Mow, “It’s a general MOU that says we’ll work together to build digital infrastructure for the country and for Bitcoin City”.

The Bitcoin entrepreneur added that the decision to help EL Salvador was an easy decision. “I just set up my company and said ‘do you want to work together?’ and they said ‘sure.’”

Mow and EL Salvador’s president, Nayib Bukele, as well as its government will be working side by side to build Bitcoin City. This will be a development that will reportedly use geothermal power from volcanoes in close range. This will power Bitcoin mining as well as the city’s infrastructure.

JAN3’s Twitter account, which already has a growing following of about 3,300, states that the company has already raised about $ 21 million in funding at a valuation of $100 million.

The funding was led by Alistar Milane, the CIO of Atlanta Digital Currency Fund, Chun Wang, the co-founder of crypto mining firm F2Pool, as well as El Zonte Capital, a new investment fund that was founded by Max Keiser, a prominent Bitcoin bull. His wife Sacy Herbert was also involved.

Mow is speaking at the Bitcoin 2022 conference and has already announced that two new jurisdictions – The Caribbean and Madeira – will be adopting Bitcoin as legal tender.