Jack Dorsey’s Btrust Aims to Train African Bitcoin Engineers with Latest Acquisition

Discover how Btrust’s acquisition of Qala is set to reshape the African Bitcoin talent pool and what it means for the future of crypto.

A man is taking a photo of Jack Dorsey sitting on a circular mining chip in front of a blue sky.
Created by Kornelija Poderskytė from DailyCoin
  • Btrust, funded by Jack Dorsey, acquires a leading African Bitcoin talent firm, Qala.
  • The acquisition aims to amplify African Bitcoin expertise on a global scale.
  • Qala’s unique position in the African market makes it a strategic asset for Btrust.

Crypto supporters have long touted the industry’s promise of banking the unbanked. Now, Jack Dorsey-backed Btrust aims to tap into the talent pool of areas most affected by this issue with its Qala acquisition. 

Btrust Acquires African Bitcoin Talent Company Qala

Established with the support of Jack Dorsey and Jay-Z, Btrust has been an advocate for decentralized Bitcoin software development. On Tuesday, September 5, Btrust acquired Qala, an organization training African Bitcoin and Lightning engineers. 

Following the completion of the acquisition on September 1, 2023, Qala will transition to the Btrust Builders Programme, reflecting a shared goal of promoting Bitcoin open-source engineering, especially from the Global South.

Since its inception in 2021, Qala has been instrumental in linking African software developers to international Bitcoin companies. Its influence extends across over 42 African nations, and its programs have facilitated placements in firms such as Galoy, SphinxChat, and Bitnob.

Bernard Parah, Co-Founder and Director of Qala, provided insights on the merger, underscoring the potential to enhance the understanding and application of Bitcoin in addressing specific challenges in Africa. 

Femi Longe and Stephanie Titcombe from Qala will join Btrust, contributing their expertise to the Btrust Builders Programme.

Bitcoin and Blockchain in Africa

Africa has been rapidly embracing the world of cryptocurrencies and blockchain technology. The continent’s unique socio-economic challenges have made it a fertile ground for adoption.

According to Chainalysis, Africa is among the fastest-growing crypto markets globally, despite being the smallest in volume. Crypto transactions in the continent peaked at $20 billion per month in mid-2021. 

Countries like Kenya, Nigeria, and South Africa lead the region regarding user numbers. While many Africans use cryptocurrencies for commercial payments, the inherent volatility of these digital assets makes them less ideal as a store of value.

On the Flipside

While Africa is rapidly adopting cryptocurrencies, a significant portion of its population still lacks access to the necessary technology or internet connectivity. 

Despite high penetration rates in some areas, Africa is a relatively small market for crypto. 

Why This Matters

The collaboration between Btrust and Qala points to the Global South’s potential in crypto, especially in Africa. 

Read more about crypto adoption in Africa: 

Crypto Adoption in Africa Is on the Rise

Read more about Lido DAO’s future on Solana: 

Will Lido Stay on Solana? Dev Team Asks for Funding from Lido DAO

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.