JAY-Z, Jack Dorsey Announce 'Bitcoin Academy' For Marcy House Residents

JAY-Z has been splitting his focus between his music endeavors and helping those who are truly in need. Following his social justice efforts with Yo Gotti, Hov is teaming up with Block co-founder Jack Dorsey to educate the residents of his old stomping grounds about cryptocurrency.

On Thursday, June 9, JAY-Z and Jack Dorsey announced their plans to launch The Bitcoin Academy. The educational program is an fresh initiative that's intended "to provide education, and empower the community with knowledge" about all the aspects of cryptocurrency and financial literacy. It's inaugural courses will only be available to the residents of Marcy Houses in Brooklyn, which is where JAY grew up.

"Shout out to @Jack . #Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many," JAY-Z said in a rare tweet. "The simple goal is to provide people tools to build independence for themselves and then the community around them."

The free courses for Marcy residents will provide introductory lessons on the various types of cryptocurrencies, blockchains, Bitcoin mining and how to identify fraud. Each student will receive personal Wi-Fi hotspots with a one-year plan and even smart phones if necessary. In addition to the free electronics, they'll also receive food at each in-person night class. There will even be a Crypto Kids Camp for kids five to 17 on two Saturdays during the summer.

The Bitcoin Academy is a collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire that's funded by Jack's bitcoin-based company Block and Hov's Shawn Carter Foundation. For the unfamiliar, Block bought out JAY's Tidal streaming service for $302 million last year. Hov joined the company's board shortly after the ink dried on their deal. Gloria Carter, who serves as the president of the Shawn Carter Foundation, released a statement with the announcement.

“The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities,” Gloria Carter said. “No one should be left out or behind. We truly appreciate the partnership with Block and Jack Dorsey to bring financial, specifically bitcoin education to the Marcy residents, where I spent many years raising my family. Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families.”

Hov and Dorsey's educational program will begin providing both in-person and online courses twice a week for 12 weeks starting on June 22.