- June 17, 2023
- Posted by: [email protected]
- Category:
Brink, a non-profit organization dedicated to assisting Bitcoin developers, has recently revealed a significant contribution of $5 million from Jack Dorsey, the CEO of Block, and his Start Small funding group.
In a tweet posted on June 14th, Brink announced that Dorsey and Start Small have committed to donating $1 million annually for the next five years as part of their “developer funding efforts.” Dorsey initially launched the fund in April 2020 with the intention of combating the COVID-19 pandemic before stepping down as CEO of Twitter. He had initially infused the fund with $1 billion.
Start Small’s website states that the fund’s current funding exceeds $1.4 billion, with over $500 million having been distributed to various projects. These include the Tor Project, which is responsible for the anonymous Tor Browser, the Signal Technology Foundation, which supports the Signal messaging app, and the Calyx Institute, an educational platform focused on digital privacy.
Brink, established in 2020, provides fellowship and grant programs aimed at supporting open-source Bitcoin developers and engineers. Apart from individuals like Dorsey who advocate for cryptocurrencies, digital asset companies such as Nexo have also made previous donations to Brink as part of their initiatives to bolster Bitcoin developer communities.
Several entities within the cryptocurrency and blockchain industries have embarked on similar endeavors, initiating funds to encourage the participation of developers. Dogecoin, for instance, established a fund in December 2022 specifically for core developers, with an initial amount of $360,000. Additionally, Animoca Brands, a metaverse developer, allegedly had plans to establish a billion-dollar fund to support startups.
