Jay-Z and Jack Dorsey have teamed up to launch a financial literacy program that will teach digital cryptocurrency to residents of the Marcy Houses projects in Brooklyn, New York.
The Bitcoin Academy will feature free classes taught by Jay-Z, whose real name is Shawn Carter, titled "What is Money?" "What is Cryptocurrency?" "What is Blockchain?" and "How to Keep Yourself Safe from Scammers," according to American Songwriter.
"Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families," Jay-Z, who grew up at Marcy Houses, said, according to the outlet.
The classes, which will run between June 22 and Sept. 7, will be offered online and in-person, with those opting to attend in-person classes receiving dinner. Residents of the Marcy Houses who participate will receive smartphones and data plans, which they can keep. Children can also participate in the "Crypto Kids Camp" for two Saturdays.
"Education is where we start. This isn't just about bitcoin … it's about long-term thinking, local economies, and self-confidence," Dorsey tweeted.
"Bitcoin is becoming a critical tool for many in Africa and Central and South America," the former Twitter CEO added in a separate tweet. "We believe the same potential exists within communities in the US. Our goal is to prove that making powerful tools more available to people enables them to build greater independence."
The program was made possible by the partnership of the Shawn Carter Foundation and Block Inc.
"The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities," Gloria Carter, Jay-Z's mother said in a statement. The school will be funded through personal grants from the two entrepreneurs.
"We truly appreciate the partnership with Block and Jack Dorsey to bring financial, specifically bitcoin education to the Marcy residents, where I spent many years raising my family," Gloria added.
Zoe Papadakis ✉
Zoe Papadakis is a Newsmax writer based in South Africa with two decades of experience specializing in media and entertainment. She has been in the news industry as a reporter, writer and editor for newspapers, magazine and websites.
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