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Twitter co-founder and Block CEO Jack Dorsey on Friday partnered with artist Shawn Carter, popularly known as Jay-Z, to launch The Bitcoin Academy -- an educational initiative in New York.

The initiative is a 12-week free educational course, both online and in person, for residents of the Marcy Houses in Brooklyn, where Jay-Z grew up, starting from June 22 till September 7.

The programme, designed in collaboration with Crypto Blockchain Plug and Black Bitcoin Billionaire, aims to provide education, and empower the community with knowledge.

"Mr Shawn Carter and I are funding The #Bitcoin Academy, a programme for residents of Marcy Houses in Brooklyn, New York where Jay grew up," Dorsey shared in a tweet.

"Education is where we start. This isn't just about bitcoin...it's about long-term thinking, local economies, and self-confidence," he added.

According to the academy, the in-person classes will take place two evenings per week and dinner will be served. People participating in the programme will also be provided with MiFi devices and a one-year limited data plan, plus smartphones if needed.

For children and teenagers aged 5-17, a separate "Crypto Kids Camp" will take place on two Saturdays.

"Shout out to @Jack. #Bitcoin Academy, starting in Marcy, a place that taught me so much, is hopefully the first of many. The simple goal is to provide people tools to build independence for themselves and then the community around them," Carter said in a tweet.

The academy said the programme 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.

"Bitcoin is becoming a critical tool for many in Africa and Central and South America," Dorsey tweeted.

"We 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," he added.

Further, the academy stated it aims to spread the initiative to more neighbourhoods in the US.

Dorsey and Jay-Z are longtime collaborators and Bitcoin evangelists. Besides working on TIDAL, which Jay-Z sold to Dorsey, the duo deployed a 500 BTC investment together last year with an emphasis on developing the cryptocurrency's popularity in India and Africa, the TechCrunch reported.

The academy will function day-to-day with the help of a small staff at the Shawn Carter Foundation, led by Jay-Z's mother Gloria Carter as co-founder and CEO.

"The Shawn Carter Foundation has always been about providing educational access and opening doors of opportunity to underserved communities," Carter said in a statement. "Everyone should be empowered to make informed financial decisions in order to take care of themselves and their families."