Jay-Z and Jack Dorsey criticized for launching 'Bitcoin Academy' in rapper's childhood home
$Twitter (Delisted)(TWTR.US$ co-founder and $Block(SQ.US$ CEO Jack Dorsey and rapper Shawn "Jay-Z" Carter are teaming up to launch the Bitcoin Academy, an educational program designed to teach participants about financial literacy and the world's largest cryptocurrency.
The project consists of free bi-weekly classes, offered in-person and online, for residents of Jay-Z's childhood home: the Marcy Houses public housing complex in Brooklyn, New York City. The Bitcoin Academy plans to eventually expand to other neighborhoods in the future.
A spokesperson for the Bitcoin Academy confirmed that the curriculum will include topics such as "What is Money?," "What Is Cryptocurrency?," "What is Blockchain?" and "How to Keep Yourself Safe from Scammers."
While offering free classes on financial literacy would be uncontroversial, the academy's focus on bitcoin has drawn heavy criticism. Responding to the announcement of the academy on Twitter, many users accordingly labelled the project a "pyramid scheme."
"It's not a surprise that marginalized communities are attracted to crypto investments," said Tonantzin Carmona, a Brookings Metro fellow who researches economic inequality and race. "It's understandable that they seek alternative outlets for generating wealth or making payment transactions, but that doesn't mean that the alternative is actually better, that it's safer, or that it's actually going to help them accomplish their goals.”
Source: Twitter, TechCrunch, Rolling Stone
"It's not a surprise that marginalized communities are attracted to crypto investments," said Tonantzin Carmona, a Brookings Metro fellow who researches economic inequality and race. "It's understandable that they seek alternative outlets for generating wealth or making payment transactions, but that doesn't mean that the alternative is actually better, that it's safer, or that it's actually going to help them accomplish their goals.”
Source: Twitter, TechCrunch, Rolling Stone
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KingNY-Life : I just want to say that there is no government recognition of digital currency, no matter who is in vain. If digital currency is classified as a new member of the amount system, then professional money institutions must be involved, not stars. This is a joke.
R_martinez : I believe is a great way of educating individuals with scarce resources about the importance of investing & cryptocurrency.
CeruleanFusions : I would much rather open a discussion about his relationship with Marina Abromovic and her "Spirit Cooking" events...
HZXS : Good
Violets R_martinez: I agree. there are a lot of underprivileged people of all colors and a lot of privilege people that don't understand anything about cryptocurrencies.
lightfoot : They should shut up. They should not be allowed to speak.
70842907 CeruleanFusions: They don’t want to talk about that.
