USA: On Friday, Twitter co-founder and Block CEO Jack Dorsey teamed up with singer Shawn Carter, better known as Jay-Z, to launch The Bitcoin Academy, a New York-based educational endeavour.
From June 22 through September 7, residents of the Marcy Houses in Brooklyn, where Jay-Z grew up, can participate in a free 12-week online and in-person instructional course.
The programme, which was created in partnership with Crypto Blockchain Plug and Black Bitcoin Billionaire, aims to educate and empower the community.
"Mr Shawn Carter and I are funding The #BitcoinAcademy, a programme for residents of Marcy Houses in Brooklyn, New York where Jay grew up," Dorsey shared in a tweet.
"Education is where we start. This isn't just about bitcoin...it's about long-term thinking, local economies, and self-confidence," he added.
As per the academy, in-person classes will be held twice a week, with food provided. Participants will also receive MiFi devices, a one-year limited data plan, and, if needed, smartphones as part of the initiative.
A separate "Crypto Kids Camp" will be held on two Saturdays for children and teenagers aged 5 to 17.
"Shout out to @Jack. #Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people tools to build independence for themselves and then the community around them," Carter said in a tweet.
The programme, according to the school, intends to provide instruction, empower the community with knowledge, and remove some barriers so that citizens may learn more about Bitcoin and money in general.
"Bitcoin is becoming a critical tool for many in Africa and Central and South America," Dorsey tweeted.
"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," he added.
The institution also announced that it intends to expand the effort to more US neighbourhoods.
Dorsey and Jay-Z have been collaborators and Bitcoin supporters for a long time. Apart from working on TIDAL, which Jay-Z sold to Dorsey, the pair invested $5000 in Bitcoin last year with the goal of growing the cryptocurrency's appeal in India and Africa, according to TechCrunch.
The Shawn Carter Foundation, which is overseen by Jay Z's mother Gloria Carter as co-founder and CEO, will run the academy on a day-to-day basis.
"The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities," Carter said in a statement. "Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families."
