[2018-04-04] Financial Literacy Needs to Include Knowledge on Cryptocurrency

[Chase]

Financial Literacy Needs to Include Knowledge on Cryptocurrency





We are rapidly moving toward a digital world, and while it may be some time before artificial intelligence is cleaning your bathroom, digital money is already knocking on the door. Bitcoin and other cryptocurrencies are starting to make the push into the current financial system, and without some basic ‘money education’, a lot of people will fall behind even further – not just financially, but also in terms of opportunity.

April is Financial Literacy Month in the United States, and a good time to bring awareness of the need for accurate, beginner-level educational material on cryptocurrency. The level of misinformation and deceptive, if not fraudulent promotion is more than just a little disturbing. Equally disturbing in the world of cryptocurrency and initial coin offerings (ICO), is the number of people believing everything they hear or read because they lack subject knowledge. They believe the media, they believe the guy at work, and worst of all, they believe it’s possible to earn 30% per month because that’s what the ad said.

Continue reading - https://dnotesedu.com/2018/04/financial-literacy-needs-to-include-knowledge-on-cryptocurrency/

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[dE_logics]

It would be nice if they would actually educated people as to what cryptocurrency is and how it works, while avoiding all of the government FUD as well as the scammy types who promise that Bitcoin will be worth $1M in 4 days. I don't expect any government entity to give anyone a positive impression of cryptocurrency since it could put the government out of the money business.

[Karartma1]

I don't expect any institution to be willing to spread financial literacy with anybody! Ignorance is strenght (1984) and the more ignorance there's out the there the better. Imagine a world where people do actually know what they invest in 

[aso118]

This is not going to happen. Financial literacy courses are universal training courses, with the syllabus prepared by the government. Even when other organisations or universities prepare such courses, these organisations are financially dependent on the government. You can imagine how much enthusiasm the government will have to include cryptocurrencies in such courses.

[Proton2233]

Governments and bankers do not recognize crypto assets as currencies. How can they include them in the curriculum? I am confident that governments hope to destroy cryptocurrencies in the future. Now they show their loyalty only because they do not want to drive the turnover of cryptocurrency into the shadows until they come up with methods to combat it.

[Chase]

It would be nice if they would actually educated people as to what cryptocurrency is and how it works, while avoiding all of the government FUD as well as the scammy types who promise that Bitcoin will be worth $1M in 4 days. I don't expect any government entity to give anyone a positive impression of cryptocurrency since it could put the government out of the money business.

The SEC has already said they are at a loss as to how to educate the retail investor in cryptocurrency and ICOs.
Teachers don't feel comfortable teaching even the most basic of personal finance courses.
After all, you can't teach what you don't know.

#CryptocurrencyEducationWeek should have been for the regulators - lol.