LeBron James Leads Initiative to Teach Underprivileged Kids Cryptocurrency
February 11, 2022
NBA superstar LeBron James has partnered with Crypto.com to teach underprivileged children in the US about new digital technologies to help ensure that they’re not left behind as blockchain technology and jobs continue to grow in popularity.
“Blockchain technology is revolutionizing our economy, sports and entertainment the art world, and how we engage with one another,” James told CBS News, also noting that learning about blockchain and Web3 will help close the so-called digital divide separating more affluent people from those in lower-income areas.
Blockchain is a system of recording information in a way that makes it difficult or impossible to change, hack or cheat the system. According to a 2021 report, the blockchain market is expected to reach $56.7 billion by 2026, up from about $14 billion today. Over the past year, careers in cryptocurrency-related industries have risen, with job searches increasing by 395% in the US. Business site LinkedIn reported that job postings with titles containing terms like ‘Bitcoin’, ‘Ethereum’, ‘blockchain’ and ‘cryptocurrency’ increased by almost double, outpacing the wider tech industry.
The multi-year project with the LeBron James Family Foundation (LJFF) will create education programs for inner-city communities focused on technology-centered advancements and providing workforce development opportunities. Web3 is an idea for a new iteration of the World Wide Web that's based on the blockchain, which incorporates concepts including decentralization and apps generated on the blockchain. It is considered to be the equitable evolution of the internet and this initiative will allow students and families to create, control and understand the technology as it becomes more mainstream.
“Crypto.com and I are aligned on the need to educate and support my community with the information and tools they need for inclusion. I’m looking forward to working with them to bring these opportunities in my community,” James added.
Children will have the opportunity to explore the concept of Web3 which gives consumers the ability to own and govern parts of the internet and have control of their properties on the blockchain, such as NFTs. The concept, billed by Crypto.com as the ‘future of the internet', has the concept to deliver a more ‘fair and equitable’ internet that is owned by creators and users.
“We couldn't be more proud to join LJFF in providing opportunities to increase educational and workforce development while delivering the tools and access that will empower the next generation to build a better and more inclusive future,” said Kris Marszalek the CEO of Crypto.com.
Crypto.com has ties with James' team, the Los Angeles Lakers, having secured naming rights for the franchise’s home arena, previously called Staples Center. The 20-year pact worth $700 million, saw the venue re-named to the Crypto.com Arena at the end of 2021.
The educational resources and program will be provided through James' ‘I Promise School’, which he started for at-risk students in his hometown of Akron, Ohio in 2018. The vision is for these tools to be public for other schools to advance James' goal to spread blockchain education.