Bill Gates Steps Down from Microsoft’s Board; Commits $1.4M to Blockchain Project CREST
- Microsoft Co-founder, Bill Gates, is stepping down from the company’s board according to a press release on March 13.
- The veteran IT mogul will focus on his philanthropic initiatives which include tackling climate change, global health, and education.
- Bill Gates will still, however, advise Microsoft’s CEO, Satya Nadella and other directors within the company in matters technology.
This transition has been gradual and began when Gates opted out of a day to day role at Microsoft back in 2008. At the time, he was looking to focus on the Bill & Melinda Gates foundation and would later step down from being Microsoft’s board chairman in early 2014.
Nadella highlighted that Microsoft was grateful for the contribution by Gates since he founded the company in 1975;
“It's been a tremendous honor and privilege to have worked with and learned from Bill over the years. Bill founded our company with a belief in the democratizing force of software and a passion to solve society's most pressing challenges.”
Given the developments around the distributed ledger tech, Microsoft and its founder have since indulged in blockchain-based projects to provide solutions.
Microsoft’s and Bill Gates Support for Blockchain
Notably, Microsoft has been active in the blockchain development space especially through its cloud platform, Azure. Towards the end of 2019, the firm launched a blockchain-oriented ecosystem that allows interested developers to leverage building tools for distributed networks.
Bill Gates has also been directly involved in this industry; the Microsoft co-founder recently supported a blockchain initiative meant to scale activity in Africa and Asia. This project dubbed ‘Crest’ was funded to a tune of $1.4 million at the beginning of March and is set to use the proceeds for scaling financial services to the unbanked.