Jack Dorsey’s Fund Pledges $5 Million To Bitcoin Developers

Billionaire Twitter co-founder Jack Dorsey plans to allocate more capital to the bitcoin ecosystem after donating $5 million to the network’s core developers through his grant-making organization Start Small.

The firm will distribute the money to Brink, a bitcoin development non-profit, in $1 million annual installments over the next five years.

• according to this WebsiteBrink exists to “support the bitcoin developer community through funding, education and mentorship.”
• “We are 100% funded by donations from individuals and organizations who wish to support the open-source bitcoin network and protocol,” the site states.
• Unlike many blockchain projects, bitcoin lacks any committed founder, foundation or company with a financial stake in the success of the protocol.
• Thus, charities and charities need to support the developers who maintain its codebase, which are often rotate,
• “Brink is very grateful for this extended pledge to support our bitcoin developer funding efforts,” said Mike Schmidt, co-founder of Brink. “We can help make bitcoin development a sustainable career for talented developers who are building, securing, testing, and reviewing the bitcoin core codebase.”
• Last year, Jack Dorsey launched legal defense fund To defend bitcoin developers to fight against lawsuits from self-proclaimed bitcoin founder Craig Wright.
• In 2021, he together To launch 500 BTC blind trust with Jay-Z to aid bitcoin development teams in Africa and India.
• Dorsey’s payment company Block on Thursday Unveiled Beta for its self-custody bitcoin wallet Bitki, which will feature exclusive integrations with Coinbase and CashApp.

Bitcoin and Nostra are the only two truly censorship resistant technologies at scale.

— Jack (@jack) June 16, 2023