{"id":1517573,"date":"2022-06-15T15:49:30","date_gmt":"2022-06-15T19:49:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1517573"},"modified":"2022-06-15T15:49:39","modified_gmt":"2022-06-15T19:49:39","slug":"jay-z-and-jack-dorsey-raise-eyebrows-over-plan-to-help-brooklyn-public-housing-residents-buy-bitcoin","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/jay-z-and-jack-dorsey-raise-eyebrows-over-plan-to-help-brooklyn-public-housing-residents-buy-bitcoin\/","title":{"rendered":"Jay-Z And Jack Dorsey Raise Eyebrows Over Plan To Help Brooklyn Public Housing Residents Buy Bitcoin"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">32<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fjay-z-and-jack-dorsey-raise-eyebrows-over-plan-to-help-brooklyn-public-housing-residents-buy-bitcoin%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1517573&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Internet entrepreneur <a href=\"https:\/\/www.dailywire.com\/topic\/jack-dorsey\">Jack Dorsey<\/a> and rapper <a href=\"https:\/\/www.dailywire.com\/topic\/jay-z\">Jay-Z<\/a> are raising eyebrows over their initiative to teach people in <a href=\"https:\/\/www.dailywire.com\/topic\/new-york-city\">Brooklyn<\/a> public housing about <a href=\"https:\/\/www.dailywire.com\/topic\/cryptocurrency\">cryptocurrency<\/a>.<\/p>\n<p><a href=\"http:\/\/dailywire.com\/topic\/bitcoin\">Bitcoin<\/a>, a form of <a href=\"https:\/\/www.dailywire.com\/news\/what-exactly-is-bitcoin-heres-how-the-worlds-largest-cryptocurrency-actually-works\">decentralized digital money<\/a> that can be transferred between users\u2019 virtual wallets, was among several cryptocurrencies to plummet in price over the last few months. The digital coin\u2019s price fell from around $48,400 at the end of December to roughly $20,600 as of Wednesday.<\/p>\n<p>Nevertheless, Jay-Z and Dorsey are personally funding the \u201cBitcoin Academy\u201d \u2014 an initiative for residents in Marcy Houses public housing complex in New York to learn about cryptocurrencies. Jay-Z, whose real name is Shawn Carter, grew up in Marcy Houses.<\/p>\n<p>\u201cBitcoin is becoming a critical tool for many in Africa and Central and South America,\u201d Dorsey, currently serving as CEO of financial services company Block, <a href=\"https:\/\/twitter.com\/jack\/status\/1534894502179180544\">tweeted<\/a> last week. \u201cWe 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.\u201d<\/p>\n<p>As Dorsey mentioned, El Salvador became the first nation to <a href=\"https:\/\/www.dailywire.com\/news\/el-salvador-makes-history-becomes-first-country-to-make-bitcoin-legal-tender\">adopt<\/a> Bitcoin as a form of legal tender last summer. According to El Salvador\u2019s government, the use of the cryptocurrency could fuel \u201cfinancial inclusion,\u201d noting that \u201c70% of its population doesn\u2019t have access to traditional financial services.\u201d Last month, El Salvador <a href=\"https:\/\/www.cnbc.com\/2022\/05\/09\/el-salvador-buys-500-bitcoin-as-crypto-market-sell-off-continues.html\">bought<\/a> $15.5 million in Bitcoin at nearly $31,000 \u2014 meaning that the nation lost more than one-third of its investment amid the most recent selloff.<\/p>\n<p>\u201cThe vision for Bitcoin is that it doesn\u2019t have barriers, but lack of access to financial education is a barrier,\u201d the Bitcoin Academy website <a href=\"https:\/\/thebitcoinacademy.com\/\">says<\/a>. \u201cThis program aims to provide education, empower the community with knowledge, and get rid of some of the barriers so that residents can learn more about Bitcoin specifically and finance in general.\u201d<\/p>\n<p>The program will give residents MiFi devices, serve dinner twice per week through the summer, and offer a special \u201cCrypto Kids Camp.\u201d<\/p>\n<p>Some, however, questioned whether Bitcoin is the best investment for those struggling to make ends meet given the uncertainty that characterizes the cryptocurrency space.<\/p>\n<p>\u201cThey\u2019re saying you\u2019re going to have financial freedom, but that also means you\u2019re getting access to cryptocurrency\u2019s volatility and complexity,\u201d Brookings Metro fellow Tonantzin Carmona <a href=\"https:\/\/techcrunch.com\/2022\/06\/09\/jay-z-jack-dorsey-bitcoin-academy-marcy-public-housing\/\">told<\/a> TechCrunch. \u201cYou\u2019re getting access to a space that is rife with scams, fraud, hacks and all sorts of things, because there aren\u2019t consumer protections in place as the technology currently stands.\u201d<\/p>\n<p>Earlier this week, cryptocurrency exchange platform Coinbase <a href=\"https:\/\/www.dailywire.com\/news\/crypto-winter-coinbase-to-lay-off-nearly-one-fifth-of-staff\">revealed<\/a> concerns about a looming recession and \u201ccrypto winter,\u201d announcing that the company would therefore lay off nearly one-fifth of its staff.<\/p>\n<p>\u201cWhile it\u2019s hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment,\u201d Coinbase CEO Brian Armstrong said. \u201cCoinbase has survived through four major crypto winters, and we\u2019ve created long term success by carefully managing our spending through every down period. Down markets are challenging to navigate and require a different mindset.\u201d<\/p>\n<p>Despite skepticism, cryptocurrencies remain popular among younger Americans. The 2022 Investopedia Financial Literacy Survey <a href=\"https:\/\/www.dailywire.com\/news\/gen-z-millennials-are-relying-on-crypto-for-their-retirements\">revealed<\/a> that 28% of Millennials \u2014 those between the ages of 26 and 41 \u2014 expect to use cryptocurrencies to support themselves in their latter years. Nearly 20% of Gen Z \u2014 those between 18 and 25 \u2014 said the same.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Internet entrepreneur Jack Dorsey and rapper Jay-Z are raising eyebrows over their initiative to teach people in Brooklyn public housing about cryptocurrency. Bitcoin, a form of decentralized digital money that can be transferred between users\u2019 virtual wallets, was among several cryptocurrencies to plummet in price over the last few months. The digital coin\u2019s price fell &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1517674,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1517573","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1517573","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1517573"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1517573\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1517674"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1517573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1517573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1517573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}