Bitcoin Focused Non-Profit OpenSats Receives $10 Million From Jack Dorsey’s #Startsmall Initiative

The funding will help OpenSats in its mission to support open source development focused on Bitcoin, Nostr and related technologies.

opensaats, a nonprofit organization that supports the development of free and open source software and projects focused on Bitcoin, Nostr and related technologies, has received $10 million in funding from Jack Dorsey’s philanthropic initiative, #startsmall. The donation will be used to help build a sustainable ecosystem and provide stable funding for free and open source projects and protocols. Half of the donation will go towards advancing the new and growing Nostr ecosystem. OpenSats plans to expand its efforts and streamline operations with funding.

“We believe that free software and open protocols are essential to a free and prosperous society. Without software that protects the rights and freedoms of the individual user, and without digital infrastructure open to all, modern society risks sliding further into digital totalitarianism,” OpenSats said in a statement. a permit.

OpenSats will continue to be a 100% pass-through operation, meaning that all donated funds will be fully allocated to projects vetted by the OpenSats Board of Directors unless specifically made available for operational purposes. #The donation to Startmall includes funding for OpenSats’ operating budget, which will allow it to survive 100%.

OpenSats added: “We want to create a sustainable, independent and consistent ecosystem for financing Bitcoin, Nostr and other open source projects.” Having so many open source contributors on our board with consistent core developers among them helps us better understand what is needed to put effective long-term support structures in place.”

As part of expanding its efforts, OpenSats has created a panel of Nostr developers and creators, including the Nostr Creator He dries and CEO of Coinkite NVK, who will assist in evaluating projects and protocol contributions. NVK and GG She joins the OpenSats Board of Directors to help make regulatory and financing decisions, with Gigi leading full-time ongoing operations and strategy.

OpenSats concluded, “We’re excited to work with contributors, industry, and the broader free and open source community to help ship much-needed freedom tools. We can’t wait to see what you build.”