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Twitter co-founder and Block CEO Jack Dorsey is collaborating with artist Jay-Z (Shawn Carter) to launch The Bitcoin Academy at Marcy Houses, the public housing complex where Jay-Z grew up in Brooklyn, New York, Amanda Silberling reported for Tech Crunch.
Photo Insert: Dorsey and Jay-Z have long been collaborators and Bitcoin promoters.
The initiative aims to provide Marcy residents free in-person and online financial education with a focus on Bitcoin as a path to financial freedom.
Dorsey and Jay-Z have long been collaborators and Bitcoin promoters. Aside from working on TIDAL, which Jay-Z sold to Dorsey, the duo invested 500 BTC together last year with a focus on growing the cryptocurrency's popularity in India and Africa.
The Bitcoin Academy, on the other hand, is supported by personal grants from the two entrepreneurs.
Nonetheless, the cryptocurrency's promise as a secure path to economic stability for low-income populations is far from guaranteed. Given the volatility of cryptocurrency and the prevalence of scams, there is concern that this project, no matter how well-intended, could have a negative impact on participants.
