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Bitcoin Gets Brink’s Support

Brink, a non-profit founded by John Newbery and Mike Schmidt, assists Bitcoin and related developers in collaborating and obtaining assistance.

Bitcoin Gets Brink’s Support iBase Trading.
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Brink, a non-profit founded by John Newbery and Mike Schmidt, assists Bitcoin and related developers in collaborating and obtaining assistance.

John Newbery of Chaincode Labs and Mike Schmidt of Blockstream are forming an organization to help with both fundings and ensure that there are enough BTC developers.


About Brink

The new group is Brink, which is a play on the newspaper headline in Bitcoin’s genesis block. It’s a new London-based, independent nonprofit that supports open-source development for Bitcoin and other technologies. Brink, Newbery, and Schmidt, who also work on the Bitcoin Optech project, will give grants to new developers and help them get started.

Newbery told BTC Magazine that they think Brink’s unique funding model, grant awards, and focus on mentoring will help more people work on Bitcoin’s protocol and make the Bitcoin network and developer ecosystem even stronger and more open.

Brink’s most unique work may be in his new fellowship program. This means that over the course of a year, some very good programmers will learn how to work on BTC projects like BTC Core or Lightning. It’s a goal of Newbery and Schmidt to interest more people in working on Bitcoin projects.

Newbery told Bitcoin Magazine that the fellowship is pretty unique, and it’s hard to become a Bitcoin Core developer unless you have the Chaincode Residency or work for a company that makes Bitcoin Core. You will have to learn a great deal of new information. I want to help move the needle on that with Brink.

Funding Bitcoin Developers

In addition to the fellowship program, Brink will also give money to people who already work with BTC. The foundation founded by Newbery and Schmidt will act as a link between those who support BTC development and those who support open-source projects that add value to the bitcoin ecosystem.

People who know a lot about Bitcoin comprise the Brink team. Also on the board are co-founders Newbery and Schmidt. Newbery will be Brink’s executive director, and Schmidt is the company secretary. Dave Harding is a BTC Optech newsletter writer. John Pfeffer, an investor, and Wences Casares, the CEO of Xapo, have given money to help with the organization. There are three groups that are paying for Brink’s first two fellows: the Human Rights Foundation, Square Crypto, and Gemini. Kraken is paying for its first grantee, too.

Brink wants to become a 501(c)(3) in the United States. With this designation, US citizens would be able to donate tax-free to the organization. Brink would then be the only organization that only works on BTC development that takes money from the public in this way.

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Nicholas Martinez is passionate about making the crypto world more accessible by bringing the latest news to the space. He has a MBA in Business Analytics and has shown an interest in cryptocurrency from as far back as he can remember.