₿trust, an initiative committed to supporting open-source Bitcoin developers based in the Global South, has announced the recipients of its Q3 Starter Grants and the new members of its ₿trust Open-Source Cohort.
1/ 📢 Announcing the ₿trust Q3 Grants!
We’re excited to announce the recipients of our Q3, 2024 ₿trust Starter Grants and the Open-Source Cohort Members! 🚀
A key part of our mission of empowering talented Global South devs to contribute to Bitcoin’s open-source ecosystem. pic.twitter.com/FnlgPGJoHu
— Btrust (@btrustteam) August 16, 2024
The Starter Grants, which provide full-time funding to Bitcoin software engineers, are a sign of ₿trust’s dedication to expanding the number of open-source Bitcoin contributors from regions such as Africa, India, MENA, Southeast Asia and Latin America.
Each recipient receives six months of support, including a stipend paid in bitcoin, technical guidance and support in developing proposals to to join the ₿trust Open-Source Cohort with long-term funding.
Why ₿trust Starter Grants Matter
₿trust Starter Grants provide financial stability to talented open source developers, which helps them focus on their work without financial stress. They also provide mentorship and support aimed to help the developers establish long-term, sustainable careers in the Bitcoin space.
“Through these grants, we can tangibly contribute to decentralizing Bitcoin open source development by introducing these developers with diverse perspectives to strengthen the resilience of the Bitcoin network,” said ₿trust Interim CEO Abubakar Nur Khalil in a press release shared with Bitcoin Magazine.
The Starter Grants also provide a pathway to the ₿trust Open-Source Cohort. Developers in the ₿trust Open-Source Cohort receive mentorship, professional development and extended financial support while contributing to open-source initiatives.
“The intention is to make grantees’ Bitcoin open-source careers sustainable, and in addition to the long-term financial support we provide, create a supportive environment for them to thrive and feel a larger sense of community,” said Nur Khalil.
Starter Grant Recipients
The recipients of Q3 2024 Starter Grants are as follows:
Enigbe Ochekliye
Ochekliye has over two years of experience in backend engineering and has worked on projects including Galoy’s Stablesats and Easepay’s payment service provider (PSP).
Ochekliye will contribute to The Lightning Development Kit’s rust-lightning through this grant. She will also work to improve the onboarding process for new contributors to Bitcoin open source projects.
Enigbe Ochekliye
Tobechi Chukwuleta
Chukwuleta is a highly-experienced backend developer with a background in data analysis. He has also been instrumental in enhancing BTCPay Server functionality, especially as it pertains to the system’s multisig capabilities and plugin development.
The funds from his Starter Grant will support him as he continues to advance BTCPay Server’s store functionality as well as the platform’s modularity.
Tobechi Chukwuleta
Kelvin Isievwore
Isievwore is currently contributing to Bitcoin open source projects such as Polar and LND. While working under the Starter Grant, Isievwore will focus on streamlining the testing and development process for engineers building on Lightning.
Kelvin Isievwore
New Members Of The Open-Source Cohort
The new members of the ₿trust Open-Source Cohort are as follows:
Abubakar Sadiq Ismail
Sadiq Ismail is a Nigerian Bitcoin Core contributor who is actively involved in optimizing the Bitcoin protocol. He works on critical areas of Bitcoin Core such as long-term fee estimation and transaction analysis.
Sadiq Ismail’s work on Mempool fee estimation analysis showcases his technical abilities, which helps to improve the scalability and usability of Bitcoin. While a part of the cohort, he will continue this work, as he refines his abilities to contribute to the Bitcoin ecosystem.
Abubakar Sadiq Ismail
Duncan Dean
Dean is a Lightning contributor from South Africa. He has been deeply involved with developing the highly-modular Lightning library, rust-lightning.
Dean also actively participates in projects like ldk-review-club and lndk, where he has contributed to improving continuous integration (CI) actions and helped maintain the robustness of the codebase. While in the cohort, Dean aims to strengthen his abilities to contribute to Bitcoin and Lightning.
Duncan Dean
Oghenovo Usiwoma
Usiwoma is a Bitcoin Core contributor based in Nigeria who has been with ₿trust since 2023. Under the ₿trust Starter Grant he focused on advancing Silent Payments functionality.
As part of the ₿trust Open-Source Cohort, he will work on introducing new key formats and descriptors for Silent Payments in Bitcoin Core, continuing his work of enhancing the privacy and scalability features of Bitcoin.
Oghenovo Usiwoma
Applying For A ₿trust Grant
Developers based in Africa, India, the MENA region, Southeast Asia and Latin America can apply for ₿trust grants.
Developers in other regions of the Global South will also be considered for grants on a case-by-case basis, predominantly based on their proof of work in the Bitcoin space.
Apply for a ₿trust Starter Grant via this ₿trust link.
The Jay-Z and Jack Dorsey-backed organization shares the list of recipients for its latest round of Starter Grants as well as the newest members of its Open-Source Cohort.
Amazon’s journey from a modest online bookstore to the world’s largest online retailer is a narrative of innovation, disruption, and relentless ambition. Today, Amazon dominates the e-commerce landscape, setting the standard for online shopping with its vast product selection, lightning-fast delivery, and customer-centric approach. This article explores the evolution of Amazon’s leadership in online shopping, examining the key strategies, innovations, and challenges that have shaped its rise to the top.
The Early Days: From Bookstore to Everything Store
Amazon was founded by Jeff Bezos in 1994 as an online bookstore, capitalizing on the internet’s potential to reach a global audience. The decision to start with books was strategic; books were easy to ship, did not require much storage space, and had a universal appeal. From the beginning, Bezos envisioned Amazon as more than just a bookstore. His long-term goal was to create the “everything store,” a one-stop-shop where customers could find and purchase anything they needed online.
The initial success of Amazon was driven by its innovative approach to e-commerce. While traditional bookstores were limited by physical space, Amazon offered an extensive catalog of books that was virtually limitless. The company’s early focus on customer satisfaction, with features like customer reviews, personalized recommendations, and a user-friendly interface, set it apart from competitors.
By 1997, Amazon had gone public, and its rapid growth continued. The company began to expand its product offerings beyond books, gradually adding categories like music, electronics, and toys. This diversification was essential to Amazon’s strategy of becoming the go-to online retailer for all consumer needs. The company’s ability to offer a wide range of products, combined with its commitment to customer service, established it as a leader in online shopping.
Innovation and Expansion: The Prime Revolution
One of the most significant milestones in Amazon’s evolution was the launch of Amazon Prime in 2005. For an annual fee, Prime members received free two-day shipping on eligible purchases, a proposition that was revolutionary at the time. The introduction of Prime was a game-changer, transforming customer expectations and further solidifying Amazon’s leadership in online shopping.
Prime was more than just a shipping service; it was a strategic move to create customer loyalty. The subscription model incentivized customers to make Amazon their default shopping destination, as the more they used Prime, the more value they received. Over time, Amazon expanded the benefits of Prime to include streaming video and music, exclusive deals, and other perks, making it an indispensable service for millions of customers.
The success of Prime can be measured by its membership numbers, which have grown exponentially over the years. As of 2024, Amazon Prime has over 200 million members worldwide, a testament to the value it offers. The Prime membership model has been so successful that it has influenced the broader retail industry, with many competitors launching their own subscription services in response.
The Technology Edge: Fulfillment and Logistics
Amazon’s dominance in online shopping is not just a result of its vast product selection and customer-centric approach; it is also rooted in its technological prowess. The company has invested heavily in building a state-of-the-art fulfillment and logistics network, which has been a critical factor in its ability to offer fast, reliable delivery to customers.
Amazon’s fulfillment centers, which are strategically located around the world, are marvels of automation and efficiency. These facilities use advanced robotics, artificial intelligence, and data analytics to manage inventory, process orders, and ship products with unparalleled speed. The company’s ability to deliver products quickly and accurately is a key reason why customers choose Amazon over other online retailers.
In addition to its fulfillment centers, Amazon has developed a vast logistics network that includes its own fleet of planes, trucks, and delivery vehicles. The company’s investment in logistics has allowed it to reduce its reliance on third-party carriers like UPS and FedEx, giving it greater control over the delivery process. This vertical integration has enabled Amazon to offer services like same-day and next-day delivery, further enhancing its competitive advantage.
Moreover, Amazon’s logistics innovations extend beyond its own operations. The company’s delivery service partner (DSP) program has created opportunities for small businesses to operate delivery routes for Amazon, while its crowd-sourced delivery platform, Amazon Flex, allows individuals to deliver packages using their own vehicles. These initiatives have expanded Amazon’s delivery capacity and ensured that it can meet the growing demand for fast shipping.
Expanding the Ecosystem: Marketplace and AWS
Another key component of Amazon’s success in online shopping is its ability to create a comprehensive ecosystem that extends beyond retail. The Amazon Marketplace, launched in 2000, has been instrumental in expanding the company’s product selection and driving revenue growth. The Marketplace allows third-party sellers to list their products on Amazon’s platform, giving customers access to a wider range of goods and enabling Amazon to earn a commission on each sale.
The success of the Marketplace has been staggering. Today, over half of the products sold on Amazon are from third-party sellers, many of whom are small and medium-sized businesses. The Marketplace has also been a critical factor in Amazon’s global expansion, as it allows sellers from around the world to reach customers in different markets without the need for a physical presence.
In addition to the Marketplace, Amazon Web Services (AWS) has played a crucial role in the company’s growth and profitability. Launched in 2006, AWS offers cloud computing services to businesses, allowing them to store data, run applications, and scale their operations with ease. AWS has become the backbone of the internet, powering everything from startups to large enterprises. The revenue generated by AWS has given Amazon the financial flexibility to invest heavily in its retail operations, including its logistics network, Prime, and original content for Prime Video.
Challenges and Criticisms
While Amazon’s leadership in online shopping is undeniable, it has not been without challenges and criticisms. The company’s dominance has raised concerns about its impact on competition, with critics arguing that Amazon’s scale and market power give it an unfair advantage over smaller retailers. There have also been concerns about the treatment of workers in Amazon’s fulfillment centers, with reports of grueling conditions and low wages sparking public outcry and calls for better labor practices.
Amazon has also faced scrutiny over its impact on the environment. The company’s rapid delivery services, which require a vast logistics network, contribute to carbon emissions and environmental degradation. In response, Amazon has pledged to achieve net-zero carbon emissions by 2040 and has invested in renewable energy and electric vehicles to reduce its environmental footprint.
Despite these challenges, Amazon continues to grow and innovate, constantly pushing the boundaries of what is possible in online shopping. The company’s ability to adapt to changing consumer preferences, invest in technology, and create a seamless shopping experience has ensured its position as the leader in e-commerce.
The Future of Amazon in Online Shopping
As Amazon looks to the future, it faces both opportunities and challenges. The rise of new technologies like artificial intelligence, machine learning, and automation will continue to shape the e-commerce landscape, and Amazon is well-positioned to leverage these innovations to enhance its operations and customer experience.
The company is also likely to continue expanding its ecosystem, integrating its retail operations with other services like AWS, Prime Video, and Alexa. This integration will further entrench Amazon in the daily lives of consumers, making it even more difficult for competitors to challenge its dominance.
In conclusion, Amazon’s leadership in online shopping is the result of a relentless focus on customer satisfaction, innovation, and scale. From its early days as an online bookstore to its current status as a global e-commerce giant, Amazon has consistently pushed the boundaries of what is possible in retail. As the company continues to evolve, it will undoubtedly remain a dominant force in the world of online shopping, shaping the future of commerce for years to come.
