THE BASIS POINT

Is Jay-Z & Jack Dorsey’s bitcoin school at Marcy housing project about crypto hype or financial literacy?

 
 

Through his foundation and in partnership with Square/Twitter founder Jack Dorsey, Jay Z is rolling out a financial literacy program at the project he grew up in. The program is called Bitcoin Academy, which is good for Jay Z financial literacy headlines, so let’s hope it’s really about financial literacy and not just crypto hype. Here’s what their site says:

This program aims to provide education, empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general.

The Bitcoin Academy is currently focused on Marcy Houses, but we hope to expand to other neighborhoods soon.

And here’s what Amanda Silberling at TechCrunch said:

Given the volatility of cryptocurrency and the prevalence of scams, there is concern that this project could negatively impact participants, even if it’s well-intentioned.

Crypto builder Austin Robey put it this way: “If you asked Marcy Houses residents how to best meet their needs, how many would say ‘a bitcoin class’?”

It’s a very good question, but I’m for anything that places high profile attention on financial literacy.

On that note, here’s what Jack Dorsey said about the financial literacy endgame:

Below are a few links on the program, including a direct link to the Bitcoin Academy site.

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Reference:

Jay-Z, Jack Dorsey Launch Financial Literacy School at Brooklyn Project (Rolling Stone)

Jay Z’s Bitcoin Academy Website

Jack Dorsey and Jay-Z Launch Free Bitcoin Academy to Lift NYC Public Housing Residents (Bloomberg)

Is billionaire-funded crypto education really what low-income people need? (TechCrunch)

 
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