Jack Dorsey, CEO of Block, announced he had teamed up with hip-hop mogul Jay-Z to bring bitcoin and financial education to the rapper’s childhood home.
Dorsey announced the launch of Bitcoin Academy in partnership with investor and rap legend Shawn Corey Carter (better known under his artist name Jay-Z). Bitcoin Academy aims to provide a free financial literacy program for all residents living at Marcy Houses, a public housing complex in Brooklyn, the rapper’s childhood home.
The program will be offered both in-person and online from June through September.
The launch comes in the middle of a challenging year for Bitcoin. After bitcoin hit nearly $69,000 in November last year, it has been depreciating for most of this year.
But the price is not all that matters. The goal of the Bitcoin Academy is to “provide education and empower the community with knowledge” on how to manage their finances with a focus on bitcoin, which the website describes as the “future of money.”
“The Shawn Carter Foundation and Cash App invite you to attend FREE Bitcoin education classes presented by Crypto Blockchain Plug and Black Bitcoin Billionaire. Classes available in person and online.”
The Bitcoin Academy has already confirmed teachers to guide the students. Instructors Lamar Wilson (as seen on The Breakfast Club, Vice News, and more) and Najah J. Roberts (featured at Afro Tech, CNBC Fast Money, and more) will teach students about Bitcoin, how it works and how to build your own financial future.
Dorsey and Carter, explained that the intention is to educate residents about bitcoin after seeing it become a “critical tool for many in Africa, Central and South America.”
Since bitcoin “has no barriers,” the idea of the program is to “demonstrate that making powerful tools available to people allows them to build greater independence.”
Dorsey is a well-known bitcoin enthusiast who has repeatedly stated how bitcoin will replace banks and bring economic opportunities to the developing world.
However, Dorsey and Carter are not seen together for the first time. They have been long-time business partners. In 2021, Dorsey paid $300 million for Tidal (a streaming service owned by Jay-Z). And in return, the rapper got a seat on Block’s board of directors.