Block head Jack Dorsey is working with famed hip-hop artist Jay-Z to fund bitcoin education for the latter’s hometown. With a series of free classes on the topic, they want to inform the residents of Marcy House in Brooklyn, New York, why they should care about primary cryptocurrencies.
The educational program – titled “The Bitcoin Academy” – will be led by Najah J. Roberts of Crypto Blockchain Plug and “Black Bitcoin Billionaire” Lamar Wilson. Roberts has appeared on Afro Tech, CNBC and Fast Money, while Wilson has been featured in both The Breakfast Club and Vice News.
According to the Bitcoin Academy website, the program will “empower communities” with knowledge, breaking down the informational barrier to entry for residents of the area. It notes that while bitcoin is actually an open network, people are effectively barred from entering if they are denied access to financial education.
Gaining experience using bitcoin is also difficult because it is yet to be widely used to buy basic goods, nor is it usable without equipment and data plans. That said, acceptance of bitcoin payments is on the rise, with Strike partnering with Shopify to allow product purchases on the Lightning network.
“The purpose of this program is to provide education, empower the community with knowledge, and relieve some of the barriers so that residents can learn more about bitcoin in particular and finance in general,” the site reads.
Academy classes will be held from 22 June to 7 September, online and in person, for all Marcy residents – with dinner. It will even offer free MiFi devices, a one-year data plan, and smartphones to attendees and residents.
There will also be “Crypto Kids Camp” programming over the weekend for kids ages 5 to 17. The program aims to expand to other neighborhoods in the near future.
Jack and Jay-Z on Bitcoin Education
Today on Twitter, JAY-Z Told The academy’s goal is to “provide people with the tools to build independence for themselves and then for the community around them.” The rapper, like many celebrities today, uses a cryptopunk NFT as his profile picture.
Jack Dorsey – a well-established bitcoin enthusiast – said that providing such education would foster “long-term thinking, local economy and confidence”. He too Told That bitcoin is now becoming a “critical tool” for people in Africa and Central/South America.
The first and second countries to adopt bitcoin as legal tender have been Central American and African respectively. In El Salvador, the bitcoin education initiative is already spreading to encourage more people to get onboard and understand its technology.
PrimeXBT Special Offer: Use this link to register and enter code POTATO50 to get up to $7,000 on your deposit.