The former CEO of Twitter and a multimillionaire rapper will collaborate on instructing children in Brooklyn about bitcoin.
Rapper Shawn “Jay-Z” Carter and former Twitter CEO Jack Dorsey are funding the Bitcoin Academy, a financial literacy program for members of the Marcy Houses, a housing project where Jay-Z was raised, in Brooklyn University, the pair announced Thursday.
“This program aims to provide education, empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general,” the website’s description states.
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The academy will feature a mixture of classes beginning in late June on many subjects, including “What is Money?” and “What is Bitcoin?” The classes will take place two evenings a week between June 22 and Sept. 7. Each attendee will receive a mobile hot spot, a one-year limited data plan, and smartphones if needed.
The program will be open to anyone from Marcy Houses but will also include a “crypto kids camp.” If successful, the program may explore an expansion into other neighborhoods.
The program will be funded out of pocket by Dorsey and Jay-Z, and teaching will be provided by instructors from Crypto Blockchain Plug and Black Bitcoin Billionaire, which encourage black people to invest in bitcoin.
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Dorsey and Jay-Z have collaborated on cryptocurrency projects in the past. Jay-Z has previously invested in blockchain projects, and he sold streaming service Tidal to Dorsey’s Block in 2021 in hopes of using it to distribute nonfungible tokens, or NFTs.
Dorsey stepped down as Twitter CEO last November to focus on Block and on investing in the blockchain.
