Jay-Z and Jack Dorsey fund bitcoin education program for residents of Marcy Houses in Brooklyn

Starting this summer, residents of Marcy Houses in Brooklyn will be eligible to receive free Bitcoin education classes as part of a new initiative funded by Twitter founder Jack Dorsey and rapper Shawn “Jay-Z” Carter.

Dorsey announced the project, called The Bitcoin Academy, in a series of tweets on Thursday. This isn’t just about bitcoin,” he said, “it’s about long-term thinking, local economies, and self-confidence.”  

The education program, which will be led by educators Lamar Wilson and Najah J. Roberts, was designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire. The project's website describes its goal as to reduce existing barriers to financial services among residents and provide education about Bitcoin specifically and finance in general. 

According to the website, the classes will teach residents about Bitcoin, how it works, why they should care, and how they can build their financial future. Participants in the program will receive free MiFi devices and a one-year limited data plan, plus smartphones if needed. 

“Bitcoin is becoming a critical tool for many in Africa and Central and South America," Dorsey said. "We believe the same potential exists within communities in the US.”