Twitter founder to open bitcoin academy

Block/Twitter co-founder and CEO Jack Dorsey has teamed up with singer Jay-Z to launch The Bitcoin Academy at Marcy Houses, a blockchain academy for low-income people in Brooklyn, where Jay-Z grew up. Dorsey informed his followers on Twitter.

Mr @sc and I are funding The #Bitcoin Academy, a program for residents of Marcy Houses in Brooklyn New York where Jay grew up, designed in collaboration with @CryptoPlug3 and @BlkBTCBillions: https://t.co/hKfq1jqii7

— jack (@jack) June 9, 2022

According to Techcrunch journalists, the purpose of the academy is to provide financial education in the field of cryptocurrencies. Lamar Wilson, owner of the Black Bitcoin Billionaire website, and Naja Roberts, founder and CEO of Crypto Blockchain Plug, will conduct the classes. The training will take place twice a week from the end of June to September, and program participants will be provided with smartphones, MiFi devices (mobile Internet access point), and a yearly lesson plan. A weekend program will also be developed for parents with children.

However, there are many critics of this idea. Given the volatility of cryptocurrencies and the prevalence of fraud, the project may have a negative impact on participants. Crypto developer Austin Roby wrote about this on Twitter.

Why tax billionaires to build a robust social safety net when they have such great ideas?
If you asked low-income Brooklyn residents how best to meet their needs, how many would say "bitcoin classes"?

Why tax billionaires to create a robust social safety net when they come up with great ideas like this?

If you asked Marcy Houses residents how to best meet their needs, how many would say “a bitcoin class”? https://t.co/wU0GO5Juz0

— austin robey 🔗 (@austinrobey_) June 9, 2022

Despite the negative feedback, the founders believe in the success of the project and are already working on its launch. The Bitcoin Academy is not the only free initiative, as the blockchain platform Binance invited new users to take an online course and a quiz, after which SHIB cryptocurrency will be credited to participants' personal accounts within 150 days.