It looks like Jack Dorsey and Jay-Z are keeping their word on the endowment fund Btrust’s mission.
In February 2021, the two teamed up to invest 500 BTC to fund Bitcoin development with a focus on teams based on the African continent and in India, as previously reported by AFROTECH. Fast forward to Sept. 1, 2023, and Btrust has acquired Qala, a firm that trains Bitcoin developers and Lightning engineers in Africa, Forbes reports.
“Btrust, seeded with 500 BTC at launch, has the financial resources but doesn’t have the structure to develop the African Bitcoin talent pipeline; it relies on giving out grants to fulfill its mandate. Qala, on the other hand, has the system but lacks the resources to do it sustainably,” the outlet wrote.
Following the acquisition of Qala, which is led by CEO Femi Longe, it has rebranded to the name Btrust Builders Programme, according to the outlet.
The organization aims for Btrust’s acquisition to speed up its vision for expansion, including supporting its community with access to critical resources.
“When we launched our program in 2021, our objective was straightforward: to cultivate a substantial number of African engineers well-versed in Bitcoin’s potential to transform the continent,” Bernard Parah, co-founder and director of Qala, said according to the outlet. “Today’s announcement significantly expedites this mission, enhancing our ability to not only grow our current community but also provide them with the resources to actively contribute to Bitcoin’s open-source development as a crucial solution to Africa’s distinct socio-economic challenges.”
Btrust Board Member Ojoma Ochai added, “We’re incredibly proud to welcome Femi and his excellent team to Btrust. With Qala’s extensive outreach and world-class programs, the organization has made rapid progress in driving open-source development in the Global South through the advancement of education within the region, which is heavily aligned with our core mission at Btrust.”