The term “bitcoin” was unknown to many people just a few years ago. While cryptocurrency continues to enter the mainstream, Bitcoin (BTC), Ether (ETH) and other digital assets are often discussed. Recently, searches for “Bitcoin” via Google hit a record high in 2020, and the number of “Buy Crypto” searches increased for the first time earlier this year, indicating prevailing interest.
It is also important to note that bitcoins and cryptocurrencies in general are gaining traction among the younger generation. For example, Bitcoin has been featured on a number of youth TV shows. Recently, the popular British television series Teletubbies sent out a tweet from its official account announcing that the NFT would be sold with funds from a charitable organization.
Lack of financial education in schools creates new opportunities
During adoption, most children and teens and many adults remain uneducated when it comes to using cryptocurrencies and blockchains. The main reason for this is that financial education is not part of the school curriculum in any country.
Vinesh Kamat, a freshman living in Scunthorpe, England, wrote an article last year for Cointelegraph illustrating this dilemma. “Despite the obvious need for these skills, curricula in most countries lack an integrated approach to financial education,” Kamat said.
The latest Youth Money Index, an annual report in the UK that examines the economic vitality of young people, found that 83% of young people want to know more about money and finance at school, while 75% said their financial resources for reading skills come from parents. The report also shows that very few students currently use bitcoin or other digital assets as financial products.
With this in mind, it’s worth noting that next-generation Z-based platforms are being developed to help students learn about cryptocurrencies and blockchain.
Cryptocurrency exchange and storage company Gemini recently partnered with the Learn & Earn app, which allows students to learn about financial literacy while earning paper rewards. Cameron Winklevoss, President and Co-Founder of Gemini, told Cointelegraph that he is delighted to promote coding education among the younger generation through this partnership:
“Our mission at Gemini is to empower humans through cryptography, and we believe the journey begins with understanding. Through our partnership, Learn & Earn provides students with a simple yet comprehensive way to learn about cryptocurrencies while rewarded for progress. ”
Learn & Earn CEO Michael Gleason told Cointelegraph that the app was originally inspired by the nonprofit Junior Achievement, which prepares young people for success and seeks innovative ways to engage high school students in financial literacy, entrepreneurship, and business readiness education. Gleason explained that the project has evolved into a small learning platform that offers fast-paced courses for generating TikTok tokens, helping students understand cryptography and blockchain while earning Fiat rewards.
According to Gleason, the programming and content loops in an application grow and evolve rapidly with space. “The course requirements for blockchain-based knowledge are some of the highest we’ve seen and driven by passionate students,” he said.
Relatives: what is bitcoin and how does it work?
Gemini sponsors all cryptocurrencies and explains what they are, their types and their history. He will educate young people on topics such as digital wallets, the decentralized economy, and the growing and future adoption of cryptocurrencies.
While the app places a lot of emphasis on teaching programming, Gleason noted that Learn & Earn’s overall goal is to help students save and invest, and thus learn more about economics. This is achieved by allowing K-12 students residing in the United States to earn money after completing the course. Students then deposit their income into UTMA / UGMA accredited investment accounts to maintain and expand portfolio diversification over time, which they can access when they turn 18. Gleason explained:
Students own a “core portfolio” of the world’s largest diversified ETFs, and can select up to ten individual large stocks or ETFs from Explore’s carefully curated portfolio. This allows students to invest in the participation of companies like Apple. Tesla, Netflix and Microsoft. “