Jack Dorsey's bitcoin non-profit organization Btrust acquires bitcoin technology training company Qala

2023-09-05 20:57:32BlockBeatsShare to:

BlockBeats news, on September 5, according to Forbes, Btrust, a Bitcoin non-profit organization founded by Block CEO Jack Dorsey and rapper Jay-Z, has acquired African Bitcoin technology training company Qala, completing the transaction on September 1 Following the transaction, Qala has been renamed Btrust Builders Programme. The deal can be viewed as a synergistic acquisition, providing an opportunity for both entities to realize their shared vision of advancing Bitcoin development in Africa. Founded with 500 Bitcoins invested, Btrust has the financial resources but no structure to create technical training and talent development for Bitcoin in Africa; it relies on doling out grants to fulfill its mission. Qala, on the other hand, has systems but lacks the resources needed for sustainable development. In response to a question about Qala's biggest challenge, its CEO Femi Longe admitted that financial issues are the top challenge. Qala is designed as a social enterprise and does not generate revenue. It has relied on funding from organizations including the Human Rights Foundation and Coinbase Giving.


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