Jack Dorsey and Jay-Z open Bitcoin Academy in Brooklyn


Key points to remember

  • Jack Dorsey and Jay Z fund a Bitcoin program available to residents of Marcy Houses in Brooklyn.
  • The free Bitcoin Academy courses will be taught by the founders of Black Bitcoin Billionaire and Crypto Blockchain Plug.
  • Participants of all ages will be offered smartphones and MiFi devices with limited one-year plans to help them access the Bitcoin network if they wish.

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Jack Dorsey and Jay-Z are teaming up to fund a program that aims to educate residents of Marcy Houses in Brooklyn about Bitcoin and general finance.

Brooklyn’s First Bitcoin Academy

Residents of Marcy Houses in Brooklyn will soon be able to attend Bitcoin classes.

The Bitcoin Academy, a program funded by Block CEO Jack Dorsey and hip-hop superstar Shawn “Jay-Z” Carter, is a project designed to educate public housing residents about Bitcoin and general finance.

“Bitcoin’s vision is that there are no barriers, but the lack of access to financial education is a barrier,” said the website. “[Bitcoin is] still difficult to use for daily necessities. Also, people need devices and data plans.

To address the challenges faced by economically disadvantaged people in accessing cryptocurrencies, program participants will be offered smartphones and MiFi devices with limited one-year plans.

Lamar Wilson, founder of crypto news site Black Bitcoin Billionaire, will partner with Crypto Blockchain Plug founder Najah J. Roberts to spearhead educational content for the program. Classes will be free and offered online or in-person from June through September, with in-person classes taking place two evenings per week.

Although focused exclusively on Marcy Houses (the public housing complex where Jay-Z grew up) for now, the program plans to expand to other New York neighborhoods in the future. A “Crypto Kids Camp” will also be available for residents aged 5 to 17.

Following the announcement, Dorsey declared in a post on Twitter, Bitcoin “is becoming an essential tool for many people in Africa and Central and South America. We believe the same potential exists within communities in the United States… Education is our starting point. It is not just about [Bitcoin but] on long-term thinking, local economies and self-confidence.

The Brooklyn Bitcoin Academy is the latest bitcoin initiative that Dorsey and Block, Inc. helped establish. The company, formerly known as Square, underwent a complete name change last year when it announcement it focused on bitcoin and blockchain technology. Block has previously said he plans to launch a Bitcoin hardware wallet and also released a white paper outlining plans for a decentralized exchange called tbDEX.

Disclosure: At the time of writing this article, the author of this article owned ETH and several other cryptocurrencies.

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