JAY-Z is Bringing a Financial Literacy School to Marcy Houses

JAY-Z is teaming up with former Twitter CEO Jack Dorsey on a new financial literacy program for residents of the Marcy Houses project.

JAY-Zis giving back to where it all started. On Thursday (June 9), Hov, along with former Twitter CEO Jack Dorsey announced that they're teaming up on 12-week financial literacy program, The Bitcoin Academy for residents of the Marcy Houses project in Brooklyn.

The classes will be held both online and in-person, with adult Marcy residents with dinner being served at each class. Those participating will receive smartphones with data plans and MiFi devices. Children at the Marcy project will also be offered a “Crypto Kids Camp” for two Saturdays. Formerly known as Square, financial services company Block, Inc. was founded by Dorsey.

“Bitcoin is becoming a critical tool for many in Africa and Central and South America. We believe the same potential exists within communities in the US. Our goal is to prove that making powerful tools more available to people enables them to build greater independence," Dorsey tweeted.

“The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities. No one should be left out or behind,” Gloria Carter, Hov's mother, said in a statement. “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,” Carter added.

Beginning this summer, the initiative will be free to Marcy Houses residents. Those interested and eligible can enroll here.