After committing $5 million to Bitcoin’s core developers through his grantmaking organization Start Small, billionaire Twitter co-founder Jack Dorsey intends to invest additional money in the cryptocurrency ecosystem.
Over the course of the next five years, the company will provide $1 million yearly payments to the non-profit organization Brink that promotes Bitcoin development.
- Brink was founded, in accordance with its website, to “support the Bitcoin developer community through funding, education, and mentoring.”
- The website reads, “We are 100% sponsored by donations from people and organizations that desire to promote the open-source Bitcoin network and technology.
- Contrary to many blockchain initiatives, Bitcoin lacks a dedicated creator, foundation, or business with a financial interest in the protocol’s success.
- Brink co-founder Mike Schmidt expressed his gratitude for the extended pledge in support of the company’s efforts to sponsor Bitcoin developers. For the outstanding programmers who are creating, securing, testing, and evaluating the Bitcoin Core codebase, we can make bitcoin development a financially viable profession.
- In an effort to protect Bitcoin developers from claims of self-styled creator Craig Wright, Jack Dorsey established a legal defense fund last year.
- In order to support the Bitcoin development teams in Africa and India, he partnered with Jay-Z in 2021 to form a 500 BTC blind trust.
- The self-custody Bitcoin wallet Bitkey, which will have unique connectors with Coinbase and CashApp, was released in beta on Thursday by Dorsey’s payment startup Block.
Bitcoin and nostr are the only two truly censorship resistant technologies at scale. https://t.co/0O1oihSRaz
— jack (@jack) June 16, 2023