Whether it’s through embedding financial literacy gems in his lyrics or investing in Black-led money management apps, mogul Shawn ‘Jay-Z’ Carter has been a huge proponent of financial wellness. The Brooklyn native has teamed up with Twitter co-founder Jack Dorsey to advance financial inclusion, Business Insider reported.
As tech continues to shape the world of commerce, Carter wants to ensure education surrounding these advancements is accessible and communities that have been historically marginalized aren’t left out of the revolution. He teamed up with Dorsey to cultivate The Bitcoin Academy; an initiative designed exclusively for those living in Brooklyn’s Marcy Houses—where Carter grew up—to equip residents with knowledge about the evolution of financial systems. Among the topics covered were decentralization, bitcoin and taxes, career paths in crypto, and wealth building. With the support of T-Mobile, the academy provided smartphones and over 100 MiFi devices for residents to participate.
The 12-week program kicked off in June and ended on Wednesday. To celebrate the dedication of its participants, Carter and Dorsey gifted them with $1,000 in bitcoin through platforms like Cash App and other digital wallet apps. Lamar Wilson, the founder of Black Bitcoin Billionaire who served as one of the academy’s instructors, says it’s important to take a culturally responsive approach when teaching the different facets of financial education.
“Because I understand the information and I can break it down into a vernacular that others can understand, especially folks from where I’m from, I feel like it’s almost my obligation to make sure I get the information to them, and it’s not to like recommend them to buy bitcoin or try to get them to invest all their money or anything like that,” he shared in a statement, according to the news outlet. “It’s just really, let me provide the information and allow you as a very intelligent being to make your own decisions.”
Several initiatives have been launched to equip underserved communities with financial literacy resources. Earlier this year, athlete and activist LeBron James joined forces with Crypto.com for the creation of a blockchain technology-centered program for children.