American billionaires, Jack Dorsey and Jay-Z have announced plans to fund a Bitcoin Academy in New York. Jack Dorsey, the co-founder of Twitter and Bitcoin financial services firm, Block, partnered with Shawn Carter, popularly known as Jay-Z, to fund the Academy to provide empowerment and financial education. The Academy is billed to target the New York community where Jay-Z grew up, both Dorsey and The Shawn Carter Foundation announced.
According to the announcements, classes will be available, completely free of charge, for Marcy House residents in New York. Access to facilities, such as devices and data plans as required, will also be provided to beneficiaries of the program.
In addition to the regular courses, the statement said, the Academy will also provide crypto programming classes for children between 5 and 17 years old. The courses are to provide members of the community with the necessary tools and skills to achieve financial inclusion, literacy, and inclusion.
“Bitcoin is becoming a critical tool for many in Africa and Central and South America. 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,” Dorsey said in a series of tweets announcing the initiative.
The Academy kicks off with its classes on June 22 through September 7 for Marcy residents in hybrid learning modules. For learners who choose to attend the in-person classes which will run twice a week, dinner will also be provided. In addition, MiFi devices will be made available for those in attendance, as well as smartphones for learners who need them.
The Shawn Carter Foundation, announcing the initiative, stated that “This innovative program aims to educate and empower the community, remove some barriers to access, and enable residents to learn more about Bitcoin specifically and financial wellness in general. The Bitcoin Academy is currently focused on Marcy Houses, and hopes to expand to other neighborhoods soon.”
The Shawn Carter Foundation has a mission to provide aid to individuals and groups in socio-economic hardship through targeted formal and informal post-secondary education.