At the end of classes on Wednesday, Marcy residents who enrolled in the Academy and opted for a grant each received about $1,000 in bitcoin.
Trainings around Bitcoin for residents of Marcy House
Last June, singer Jay-Z and entrepreneur Jack Dorsey funded an initiative called The Bitcoin Academy. For three months, this initiative will hold trainings around Bitcoin (BTC) for residents of Marcy House, the Brooklyn neighborhood where the singer grew up.
The program was created in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire with two modalities: online and in person.
This innovative program aims to educate and empower the community, remove some of the barriers to access, and allow residents to learn more about Bitcoin specifically and financial wellness in general. Jack Dorsey wrote on Twitter:
Bitcoin is becoming an essential tool for many people in Africa, as well as Central and South America. We believe the same potential exists within communities in the United States. Our goal is to prove that making powerful tools more accessible to people allows them to build greater autonomy. Education is our starting point. It’s not just about bitcoin…but about long-term thinking, local economies and self-confidence.
For his part, Jay-Z the mythical rapper said:
Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people with the tools to build their independence and then the independence of the community around them.
The courses cover the basics of Bitcoin, how it works, how it works and how individuals can use it to “build” their “own financial future.”
1,000 in BTC through Cash App
Three months later as expected, Shawn “Jay-Z” Carter and Jack Dorsey’s initial iteration of the Bitcoin Academy ended with an unexpected parting gift for its participants according to a business insider article.
At the end of the program Wednesday night, adult Marcy residents who signed up as students, opted into the program and consented to receive a scholarship each received about $1,000 in bitcoins through Cash App, Muun Wallet or other self-directed wallets, according to an Academy representative. The program and its final drop were personally funded by Jay and Dorsey.
After the conclusion of its summer classes at Marcy Houses, the Bitcoin Academy “is looking to expand to other neighborhoods soon,” the program said.
Mrs. Gloria Carter, Jay’s mother and president and co-founder of the Shawn Carter Foundation, emailed Insider magazine:
…The more than 350 people who have attended the Bitcoin Academy classes have let us know that this education is important to them – and that it matters…