The first iteration of Bitcoin Academy – Jack Dorsey and Jay Z’ (Shawn Carters) Bitcoin education program – has ended.
The charity initiative has helped educate and encourage some of Marcy’s residents to get involved in the Bitcoin network.
After 12 weeks, this initiative ended by airdropping $1000 in Bitcoins to all participants who chose to receive the funding.
Jack and Jay Z’s Farewell Gift
As Business Insider reports, the entire program, including the final airdrop, was personally sponsored by Jay-Z and Jack Dorsey. While it’s unclear exactly how many people received the airdrop, an email from Jay’s mother revealed that the program was attended by more than 350 Marcy residents.
“Resident Marcy showed up,” she said. “It is also important to provide the necessary resources such as dinners, childcare, equipment, internet access, staff and dedicated instructors so that as many people as possible can participate in person and online”.
Bitcoin Academy was announced in early June as a live program to provide Bitcoin education and resources to residents of Marcy Houses, New York – where Jay Z grew up. It runs from June 22 to September 7.
At the time, the organizers were transparent about how participants received various rewards, including a free MiFi device, a year’s data plan, and a smartphone. Other benefits, such as the free childcare provided by the program, have attracted some residents to participate. However, the Bitcoin gift was a last-minute surprise.
What does the program teach?
Some of the courses covered during the event included titles such as “Building Wealth and Wealth”, “Why Decentralization Matters”, “Staying Safe from Scammers”, “Bitcoin and Taxes” and “Cryptocurrency Careers” as well as other courses. All courses have been recorded and are still available online – but only for Marcy residents.
“A lot of times, information doesn’t reach our community,” explains Lamar Wilson, an Academy instructor and founder of Black Bitcoin Billionaire. “It’s not because people intentionally discriminate, but because they didn’t knowingly get the information there.“
As he noted, many residents were able to understand complex and technical concepts like Bitcoin mining after they were explained. They were also taught how Bitcoin can be used as a tool to build “generational wealth,” which resonated with many attendees.
In particular, Wilson is intrigued by how Bitcoin could become a tool for historically oppressed groups to protect their assets from seizure. One Marcy resident – Mariela Regalado – recognized Bitcoin as a tool that can help secure her daughter’s financial future.
“I’m stacking up for her, and I probably wouldn’t be able to say it in June before the Academy, but now I can, because now I know what it all means,” she said.
Both Wilson and Regalado emphasized that the academy’s students are under no pressure to buy or trade Bitcoin but simply learn about it. “We always felt like we were at a family dinner, and like our cousin who discovered Bitcoin was telling everyone about it,” Regalado said.