Twitter co-founder and Block CEO Jack Dorsey teamed up with artist Shawn Carter, better known as Jay-Z, on Friday to launch The Bitcoin Academy – an educational initiative in New York City.
The initiative is a free 12-week online and in-person educational course for residents of the Marcy Houses in Brooklyn, where Jay-Z grew up, from June 22 through September 7.
The program, designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire, aims to provide education and empower the community with knowledge.
“Mr. Shawn Carter and I fund The #Bitcoin Academy, a program for residents of Marcy Houses in Brooklyn, New York, where Jay grew up,” Dorsey shared in a tweet.
“Education is where we start. It’s not just about bitcoin…it’s about long-term thinking, local economies and self-confidence,” he said. added.
According to the academy, in-person classes will take place two evenings a week and dinner will be served. Those participating in the program will also receive MiFi devices and a one-year limited data plan, as well as smartphones if needed.
For children and teenagers from 5 to 17 years old, a separate “Crypto Kids Camp” will take place on two Saturdays.
“Shout out to @Jack. #Bitcoin Academy, which starts in Marcy, a place I learned so much from, is hopefully the first in a long series. The simple goal is to provide people with tools to develop their independence and then that of the community around them,” Carter said in a tweet.
The academy said the program aims to provide education, empower the community with knowledge, and break down some of the barriers so residents can learn more about Bitcoin in particular and finance in general.
“Bitcoin is becoming an essential tool for many people in Africa and Central and South America,” Dorsey tweeted.
“We believe the same potential exists within communities in the United States. Our goal is to prove that making powerful tools more accessible to people enables them to develop greater independence,” he added.
Additionally, the academy said it aims to expand the initiative to more neighborhoods in the United States.
Dorsey and Jay-Z are longtime collaborators and Bitcoin evangelists. In addition to working on TIDAL, which Jay-Z sold to Dorsey, the duo rolled out a 500 BTC investment together last year with a focus on growing the popularity of cryptocurrency in India and Africa, TechCrunch reported.
The academy will operate day-to-day with the help of a small team from the Shawn Carter Foundation, led by Jay-Z’s mother, Gloria Carter, as co-founder and CEO.
“The Shawn Carter Foundation has always been about providing access to education and opening doors for underserved communities,” Carter said in a statement. “Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families.”
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