Tether launches crypto and blockchain education program in Switzerland

May 19, 2022 Coin Telegraph

Adoption

"It is essential that educational institutions are put into place to help better inform not only traders and investors but future business owners," said Paolo Ardoino.

Switzerland’s southern city of Lugano will host a blockchain- and cryptocurrency-focused school as part of a partnership between the local government and Tether (USDT).

In a Thursday announcement, Tether and Lugano said they will be launching the Plan ₿ Summer School in an effort “to bring blockchain and crypto education to the masses.” The education center is part of Tether’s "Plan ₿" initiatives with the Swiss city, which have included making Bitcoin (BTC), Tether (USDT) and the LVGA token legal tender in the area.

@luganomycity @Tether_to @FranklinSwitz @USI_university announced today the launch of @LuganoPlanB Summer School, 3-16 July 2022. Apply now #Lugano @LuganoLivingLab https://t.co/PI0USZpA96
— Lugano (@luganomycity) May 19, 2022

According to the school’s website, the two-week program will run in July and feature speakers including Blockstream CEO Adam Back and Tether and Bitfinex chief technical officer Paolo Ardoino. Topics include basic introductions to stablecoins and cryptocurrencies as well as blockchain analysis and regulatory policy around digital assets.

“As adoption continues to drive participation in the cryptocurrency ecosystem, it is essential that educational institutions are put into place to help better inform not only traders and investors but future business owners looking to implement these financial tools into their everyday lives,” said Ardoino.

Co-organized with the nearby Franklin University Switzerland, or FUS, and supported by the Università della Svizzera Italiana and FUS’ Taylor Institute, the Plan ₿ school initiative is aimed at equippi a new generation of workers with the skills needed in the digital asset space. Other crypto-friendly countries including El Salvador — where BTC has been accepted as legal tender since September 2021 — have launched similar education centers in an effort to increase adoption.

Madeira ‘embraces’ Bitcoin and how the president met Michael Saylor

May 17, 2022 Coin Telegraph

Bitcoin Community

Why and how the island of Madeira is “adopting” Bitcoin and how the president fell down the Bitcoin rabbit hole.

The tiny Portuguese island of Madeira has “adopted” Bitcoin (BTC) — but what does that mean? The announcement made during the Bitcoin Miami Conference in 2022 has spurned confusion and misinformation.

The President of the Regional Government of Madeira, Miguel Albuquerque, hopped onto the stage in April to announce that he believes in the “future of Bitcoin,” and that he would work to “create a fantastic environment for Bitcoin.” However, the details remained unclear.

Cointelegraph spoke to André Loja, a Madeiran entrepreneur who spearheaded the plan to bring Bitcoin to the archipelago in the Atlantic ocean to find out how Bitcoin is shaping the islands’ development.

The island of Madeira exploded onto the Bitcoin world map on April 7, when Samson Mow proudly announced that Madeira “will be adopting Bitcoin.”

Upon the announcement, news outlets around the world reported that Madeira had adopted Bitcoin as legal tender. However, this was not the case. Loja explained to Cointelegraph that prior to Samson Mow’s announcement, Loja would have preferred to use the phrasing “Madeira is embracing Bitcoin.”

“We embrace it, we support it. We are not ‘adopting’ Bitcoin because adopting looks like we were making it legal tender when it’s already de facto legal.”

Indeed, in Madeira and across Portugal — 1,000 km northeast of the island — there is zero tax on Bitcoin capital gains. That means any disposal, spending, or use of Bitcoin does not need to be declared to tax authorities by the island’s 250,000 people.

Loja orange-pilled the president of Madeira just a few weeks prior to the conference, sharing his vision for Bitcoin as not only a means to attract foreign investment, but to “protect my island from the fiat system.”

By happenstance, Albuquerque came to visit Loja’s coworking space — one of the few places that accept Bitcoin in Madeira — and Loja jumped at the opportunity to share his passion for Bitcoin. Madeira was kneecapped by the COVID-19 pandemic as critical tourism revenue fell off a cliff. Loja, therefore, presented a Bitcoin future to the president as a means to diversify and restructure Madeira’s economy, among other advantages.

Albuquerque was reportedly open to the idea, so Loja quickly sought the help of Bitcoiners around the world, including Daniel Prince, a renowned Bitcoin podcaster; Jeff Booth, the author of The Price of Tomorrow, and even Michael Saylor, CEO of Microstrategy.

Within weeks, the Bitcoiner all-star team had contacted the organizers of Bitcoin Miami 2022 to organize the president’s appearance on stage. Ultimately, having the head of state of an autonomous region endorse Bitcoin was an opportunity too big to miss.

Upon landing in Miami, Loja and Albuquerque were invited to Saylor’s flashy Miami villa, “with the yachts and everything,” Loja jokes. While Loja had already orange-pilled the president, the conversation with Saylor was on another level:

“Michael Saylor sat down with president Albuquerque and well […] It was more like he sat down with his head!”

Saylor told Albuquerque that “you need to focus on Bitcoin. Everything else is garbage.” A conversation the president is unlikely to forget, the seminar was sufficient preparation for him to step on stage in front of 25,000 Bitcoin enthusiasts.

Loja explained that the announcement that Madeira is adopting Bitcoin would “kickstart an intention” for Madeira to become an island in which Bitcoin prospers alongside the people. For Loja, who has already translated popular Bitcoin books into Portuguese, “It starts with education: the most important thing.”

*Loja (far right), President Albuquerque (center with book) and Knut Svanholm (far left) in Madeira in May 2022. Source: Loja*

Indeed, Loja cut his teeth during the bear market of 2018. A passionate educator, Loja works closely with other educators in the space, such as Knut Svanholm, author of Bitcoin: Everything Divided by 21 Million, to teach the principles of sound money:

"I have a lot of ideas, from kindergarten to schools to adults workshops — and to bring people from outside the island. The association will have the best people as consultants.”

To this end, Loja is founding the Sound Money Foundation, a Bitcoin education center in Madeira. The center has support from Samson Mow and Jeff Booth, among others, and seeks to help locals to better understand cryptocurrency from a young age.

Accompanying the education drive and the focus on improving "financial literacy," Loja's hometown also lures Bitcoin companies with attractive fiscal incentives. At the International Business Center, companies pay just 5% business tax, a highly competitive rate. Portugal was already a budding hub for individual Bitcoiners, but companies could now reap benefits

Further down the road, Loja plans for the autonomous government of Madeira to mine Bitcoin with leftover renewable energy — as the island has abundant wind and sunlight — and even carry out “a multi-signature wallet for the government to work with Bitcoin financially.”

*Madeira's international business center. Source: ibc-madeira.com*

As a result, the government would take full custody of the Bitcoin it mines by taking control of the private keys. Loja highlighted that the electrical power grid is a standalone “public company,” so any Bitcoin mined by the grid would go into government multi-sig wallets.

In essence, Madeira's approach to Bitcoin goes above and beyond the lauded legal tender status. From public sector Bitcoin mining to education to state-run multi-sig wallets to having Michael Saylor on speed dial, the island is slowly steering towards a Bitcoin future.

Unsurprisingly, Loja's holistic approach to the island "embracing" Bitcoin has a low time preference.

Accessibility is the main barrier to crypto adoption — Here are the solutions

May 15, 2022 Coin Telegraph

Coin Telegraph

Cryptocurrency accessibility is inhibited by a lack of financial and crypto literacy created in part by the wealth gap, technostress and overuse of jargon.

Accessibility is a pain point for cryptocurrency adoption that has been discussed for years, yet still, it is pertinent as ever. This issue was most recently recognized by the United States government as we’ve seen Treasury Secretary Janet Yellen discuss during her remarks on digital assets policy and regulation. There are barriers that are limiting accessibility to cryptocurrencies, such as financial education and technological resources, and it is our duty as developers and leaders in this revolutionary industry to address them.

Studies have shown that only 33% of adults across the globe are financially literate. With many projects in the decentralized finance (DeFi) space focusing on providing individuals without access to traditional financial institutions and tools for earning, saving and transacting, this is a key consideration.

Traditional financial institutions certainly have additional barriers that cryptocurrency projects are bypassing, such as requiring documentation, lofty fees and a general lack of local financial institutions in emerging markets. With that said, even DeFi requires knowledge and understanding of money to comfortably enter the space. Comprehensive education on the building blocks of finance, from tips on savings to market fluctuations, is crucial to encourage those who have felt excluded by traditional finance to enter the DeFi world.

Cryptocurrency education and technostress

Another educational component necessary is cryptocurrency and blockchain education. New technology of all kinds can be overwhelming and confusing to potential new users — it’s so common that the term “technostress” was coined to diagnose this issue.

Highly technical language and frequent use of jargon are two issues I’ve witnessed in the space that deter the crypto curious from diving into the world of DeFi. Providing resources that break down the essentials of blockchain technology, whether they are blog posts or explanatory videos, helps to bridge the large gap of knowledge between developers and everyday individuals. While this is an important start, the unfortunate truth is that education also requires one crucial and very limited resource — time.

The time and energy it takes to learn the ins and outs of blockchain and cryptocurrency technology can be a major barrier to developing a deep understanding necessary to enter the space. While providing easy, simple educational tools is beneficial, it serves an admittedly limited population. As a result, financial literacy and crypto education remains important, but there are other steps developers and leaders must take to enable user adoption. Project leaders should also consider the knowledge gaps as they design their platform and build out messaging. Using simple, concise language that will resonate with all audiences is key to welcoming new users.

How the wealth gap serves as a barrier

As mentioned, the wealth gap presents many challenges for lower-income individuals to enter the space. In addition to a lack of access to and time for education, limited liquidity is another massive barrier to entry.

In order to invest, individuals must be able to cover their living expenses with additional money to allocate elsewhere. For those living paycheck to paycheck, or even those who simply do not feel comfortable risking their resources on investments, they are far less inclined to put money into investment accounts.

This is especially true with digital assets since they are newer and less regulated than traditional investment avenues. Undercollatoralized loans will enable those with less liquidity to invest in the space, serving as a major driver of mainstream crypto adoption. Projects, such as Teller Finance, that allow individuals to borrow crypto assets without posting collateral are moving the space forward. This space will continue to grow and is necessary for increasing accessibility.

How leaders and developers can navigate these barriers

As developers focus on simplicity and ease for users, their platform must reflect those considerations. Onboarding is the first step for any curious potential new user, so ensuring that sign-on is intuitive is your opportunity to create a lasting first impression. If there are many complicated processes to set up an account, people will understandably not want to move forward. Easy Know Your Customer identification, rather than laborious protocols, is one way that projects can enhance their onboarding experience.

Another step for projects to take is building out a robust network of partners. Depending on the project, this could be compatible blockchains, integration with decentralized applications, or joining initiatives like Celo’s DeFi for the People that aim to increase real-world use cases. There are so many projects in the space, often with limited interoperability, which means that users have to juggle many different accounts and applications. Making your platform as expansive and interoperable as possible means providing users with countless ways to use your platform through compatible programs, which in turn encourages them to utilize your offerings.

The blockchain industry’s continued growth requires a steady flow of new users within the space. To do so, we as an industry must develop projects with new users in mind. Offering educational content is the first step to building a foundation that will allow us to revolutionize the economy.

Bearing in mind that this does not serve every user, and finding additional ways to incentivize new users to join the space is crucial. Offering uncollateralized loans helps to bridge the wealth gap that we have seen throughout crypto’s progression and increased adoption. Keeping your audience in mind every step of the way, from design to messaging, to the offerings that you provide, is of equal importance. The ultimate goal is for blockchain technology to be embedded within applications to the point where users don’t even need to know that they are on-chain. When our applications are as intuitive and understandable as the traditional financial tools that users have downloaded by the millions, we will see an increase in users like never before.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Fabrice Cheng is the co-founder, CEO and chief technology officer at Quadrata. He was previously the head of blockchain technology at Spring Labs. Fabrice is an experienced technologist and has been building in the Ethereum ecosystem since 2016, with a particular interest in how to extract value from the mempool, and he’s also an Ethereum 2.0 open-source contributor at Prysmatic Labs.

TZ APAC’s Colin Miles: Blockchain will be taught in classrooms in 3-5 years

May 13, 2022 Coin Telegraph

Coin Telegraph

TZ APAC’s Colin Miles says that a new partnership with the National University of Singapore (NUS)’s School of Computing will help students learn about Tezos and blockchain.

Colin Miles, the newly-appointed CEO of TZ APAC expects blockchain and web 3.0 curricula to start becoming an integral part of secondary and tertiary education within the next three to five years.

“I would think it's that classic medium-term, three-to-five timeline,” said Miles.

Miles was speaking to Cointelegraph after the announcement of TZ APAC’s partnership deal with the National University of Singapore (NUS)’s School of Computing on May 10, which will see the Tezos agency supporting the development of the university’s new center for Nurturing Computing Excellence. Miles said:

“If you have a dedicated center in NUS, which runs blockchain courses every day of every week for students… it will become part of the fabric of one of the best computing schools in the world. I would imagine that most other schools would look to that as an example to follow.”

NUS currently offers an in-depth blockchain curriculum aimed at a range of levels from beginners to CEOs and mid-level managers. Other well-known universities offering courses in blockchain include Massachusetts Institute of Technology (MIT), Harvard University, Oxford University, Cornell University and University of California Berkeley.

“Overall this trend will become a mainstay, because a large number of exciting new jobs will come from the Web3 environment. It is therefore incumbent on educational institutions to help gear their student cohorts up for this important shift,” he said.

TZ APAC is the Asia-based blockchain adoption entity supporting the Tezos (XTZ) ecosystem. Tezos is an open-source proof-of-stake blockchain launched in 2018 as a platform for smart contracts.

As part of the newly announced partnership, TZ APAC has been tasked with creating a blockchain developer curriculum where students will be able to take part in classes, workshops, developer hackathons and other practicals aimed at educating students about the Tezos blockchain.

TZ APAC will also be supporting the university through the provision of a grant, which Miles said will go towards administrative support for running courses for undergraduates, as well as postgraduates and PhD students and their final year projects.

TZ APAC @NUSComputing

We’re delighted to partner with NUSComputing to set up the Centre for Nurturing Computing Excellence to build a strong #talent pipeline in fast-growing fields such as #blockchaintechnology and #cloudcomputing.

Read more at: https://t.co/QX3mWU2QMS
— TZ APAC (@TzApac) May 10, 2022

Singapore has been leading the way in terms of institutionalizing crypto education, said Miles, particularly when compared against other APAC countries.

“Singapore is starting to inculcate this education into the curriculum in a positive way.”

“They're starting to add these through smaller vocational courses… but you can imagine the next step is to literally burn it into their curriculum so that their undergrads can go through this process without having to do it voluntarily or otherwise.”

Led by Associate Professor Tan Sun Teck from NUS Computing, the new Center will give students an avenue to learn directly from experts in the field of blockchain technology, cloud computing and data science.

“By partnering with pioneering organizations such as TZ APAC, students will have the opportunity to benefit from real-world expertise at a critical juncture of their education,” said Professor Tan.

Miles said that partnering with universities, academies and schools around the region are one of the key methods used by TZ APAC to drive adoption of the Tezos blockchain.

“We now have a very strong proposition for educational institutions in the region. In partnership with [them], we can reach tens of thousands, if not hundreds of thousands of students, to not only help them understand the blockchain economy, but also Tezos blockchains’ role in that as well.”

IMF recommends The Bahamas ‘accelerate its education campaigns’ on CBDC

May 9, 2022 Coin Telegraph

bahamas

In addition to recommending financially educating the public in The Bahamas, the IMF hinted at the importance of “robust supervisory and regulatory framework” for digital assets.

Reporting on a consultation with the Caribbean nation on Monday, the IMF said its executive directors “recognized the potential of the Sand Dollar to foster financial inclusion” and recommended the Central Bank of The Bahamas “ accelerate its education campaigns and continue strengthening internal capacity and oversight.” The consultation was somewhat of a departure from several of the IMF’s previous warnings to many countries against the adoption of digital assets — but many of those did not include CBDCs.

The recommendation came following the conclusion of an Article IV consultation in The Bahamas on May 4. According to the IMF, during such a consultation, a team of economists visits a country “to assess economic and financial developments and discuss the country's economic and financial policies with government and central bank officials.”

In addition to recommending financially educating the public in The Bahamas, the IMF hinted at the importance of “robust supervisory and regulatory framework” for digital assets. During an interview at SALT’s Crypto Bahamas conference in May, The Bahamas Prime Minister Philip Davis told Cointelegraph that the region has a regulatory regime in place that will enable crypto businesses to operate within its jurisdiction. Davis’ office also said in April the government would “enable payment of taxes using digital assets” by working with the central bank as well as the private sector.

It was an honor to interview the Prime Minister of the Bahamas for @Cointelegraph at @CryptoBahamas stay tuned for our coverage! #CryptoBahamas pic.twitter.com/67EtQgRQeT
— Rachel Wolfson (@Rachelwolf00) April 27, 2022

To date, The Bahamas and Nigeria are the only two countries to have officially launched CBDCs, but other nations including China have been piloting digital currencies. On May 6, the Bank for International Settlements Monetary and Economic Department said a survey of 81 central banks conducted in 2021 suggested 90% were “engaged in some form of CBDC work,” with more than 60% “likely to or might possibly issue a retail CBDC in either the short or medium term.”

The International Monetary Fund, or IMF, has turned its attention to The Bahamas’ central bank digital currency, the Sand Dollar, and suggested additional regulatory oversight and education.

Crypto Bahamas: Regulations enter critical stage as gov’t shows interest

May 3, 2022 Coin Telegraph

Banks

SALT’s Crypto Bahamas brought together traditional financial players with crypto companies and industry experts to discuss the future of digital assets.

The crypto community and Wall Street converged last week in Nassau, Bahamas, to discuss the future of digital assets during SALT’s Crypto Bahamas conference. The SkyBridge Alternatives Conference (SALT) was also co-hosted this year by FTX, Sam Bankman-Fried’s cryptocurrency exchange.

Anthony Scaramucci, founder of the hedge fund SkyBridge Capital, kicked off Crypto Bahamas with a press conference explaining that the goal behind the event was to merge the traditional financial world with the crypto community:

“Crypto Bahamas combines the crypto native FTX audience with the SkyBridge asset management firm audience. We are bringing these two worlds together to create a more equitable financial system.”

Traditional finance eyes crypto as regulations take shape

The combination of traditional financial institutions with crypto natives was indeed one of the most notable and noticeable (a number of men and women were wearing suits, while some sported shorts and flip flops) aspects of Crypto Bahamas. For instance, Kevin O’Leary — the Canadian entrepreneur better known as “Mr. Wonderful” for his role on Shark Tank — told Cointelegraph that the people present at the Crypto Bahamas proved to be the most important aspect:

“We have governments from around the world here, along with institutional investors that don’t actually own any cryptocurrency, but are watching the momentum in politics. They are starting to realize that a big change is coming.”

According to O’Leary, recent crypto regulatory frameworks from United States Senator Kirsten Gillibrand and Senator Cynthia Lummis, along with the Stablecoin Transparency Act proposed on March 31, 2022, by Representative Trey Hollingsworth and Senator Bill Hagerty, are now attracting institutional interest in crypto.

“They’ve come to the conclusion that this is an asset class that is here to stay,” O’Leary remarked. While this may be, he pointed out that many traditional financial institutions still don’t own any cryptocurrency and will not own any digital assets until policy is implemented. “I think cryptocurrency will become the twelfth sector of the S&P. We will be paying 20-30% more when institutions start indexing this. That’s the big debate happening at this conference.”

To O’Leary’s point, while some members of the crypto community may find institutional players to be intrusive, Henri Arslanian, senior crypto adviser at PwC, told Cointelegraph during the conference that the crypto ecosystem should welcome the entry of institutions, noting that these centralized players provide the level of maturity and experience needed for working with institutional investors. “This can be beneficial for the entire crypto ecosystem,” said Arslanian.

Scaramucci further told Cointelegraph that crypto is still in its infancy, but he predicts that the market will undergo major innovations in the next five years. “In the long term, I’m excited about where everything is going, but in the short term we will witness headwinds as a result of post COVID-19, the war between Russia and Ukraine, the specter of inflation and supply chain issues,” he remarked. Scaramucci added that he believes FTX will be the most transformational player in the space overall because “their mission is to transform the entire financial ecosystem by tokenizing all markets.”

Recent: Has New York State gone astray in its pursuit of crypto fraud?

If you build it, they will come

In the meantime, it appears as if the Bahamas will likely become the world’s next crypto hotspot. While FTX moved its headquarters from Hong Kong to the Bahamas in September 2021, it’s anticipated that more crypto companies will do the same. Bahamian Prime Minister Philip Davis told Cointelegraph that the country has a regulatory regime in place and recently published a policy white paper framework to help crypto businesses understand how to operate in the country:

“This will help companies understand how they can grow and prosper, and what we can expect from them. The policy also takes into account concerns people have about cryptocurrency and the risks associated with digital assets. Policy is implemented to protect consumers and the integrity of the space, and at the same time ensure that we minimize all risks that may be associated with businesses here.”

Scaramucci said that he believes the Bahamas is becoming a crypto-centric region that will be known in the next five years as one of the most “forward thinking and economic visionary countries.” Arslanian added that crypto-friendly jurisdictions seen in regions like the Bahamas and Dubai have the opportunity to become global hubs by attracting top-performing crypto companies. “These jurisdictions are clearly focused on the future of crypto,” he said. On the other hand, Arslanian pointed out that the U.S. is still lacking in regulatory clarity when it comes to cryptocurrency innovation:

“I moderated a panel before this interview with Chris Giancarlo, the former chairman of the U.S. Commodity Futures Trading Commission. I asked him how he would rate crypto regulations on a scale of zero to 10 in the U.S., and he answered zero. Jurisdictions have the agility, but they also need the will to embrace crypto.”

In terms of understanding how the U.S. may improve upon crypto regulations moving forward, Arslanian explained that models in Dubai such as the newly formed Dubai Virtual Asset Regulatory Authority (VARA) may be helpful for other regions to implement.

“VARA is a specialized crypto regulator, so they know this vertical very well. We need more regulators specializing in this policy in other regions.” While VARA is a recent innovation, FTX expanded its operations in the United Arab Emirates in March of this year by receiving a virtual asset exchange license in Dubai, which was granted under VARA.

Crypto undergoing “regulatory madness,” but future looks bright

Overall, regulatory developments within the cryptocurrency sector were widely discussed at Crypto Bahamas. For example, stablecoins and central bank digital currencies (CBDCs) were a hot topic of debate.

Sheila Warren, CEO of the Crypto Council for Innovation, moderated a panel discussion entitled “DeFi Future: Inside the making of a new financial system.” Warren told Cointelegraph that the next two to three years will determine the trajectory of Web3 and blockchain technology for generations to come, given innovation currently happening within the crypto sector.

“The biggest threat, but also the greatest opportunity for crypto right now is in the policy making space. We have evidence and hard data now to demonstrate how technology can achieve public policy goals that we can all agree is important for society,” she said.

In regard to stablecoins and CBDCs, Warren explained that both of these have a role to play within financial systems based on different use cases. “CBDCs may make sense in a contained financial system, but in most cases, I remain skeptical of CBDCs beyond interbank settlements and cross border payments.” In contrast, Warren believes that stablecoins have tremendous potential when it comes to being used as programmable money. She said:

“There is a role for stablecoins that is critically important. For instance, I think USD Coin is one of the most important innovations we are currently seeing in the ecosystem in terms of the bridge it can provide between different assets while enabling programablity in smart contracts. I’m bullish on stablecoins, but I want to see how regulatory environments treat them — this is important for our entire ecosystem.”

O’Leary thinks the first crypto-friendly policy to be adopted in the U.S. will focus on stablecoins. He believes this will be the case due to the Stablecoin Transparency Act introduced earlier this year, which aims to audit stablecoins on a 30-day cycle.

“This is similar to money market accounts that Fidelity and Schwab have, so they are looking at this as a way to bring transparency to stablecoins. Let’s say USDC is the first stablecoin to receive this license — others will soon do the same,” O’Leary said.

Recent: DAOs: A blockchain-based replacement for traditional crowdfunding

He added that such regulations could be transformative for the traditional finance space. “For example, with FX trading, I’m currently getting overrun by fees, as I have to convert U.S. dollars into euros or British pounds when I buy European stocks. But, if there was a stablecoin, there would be more transparency, less friction and it would be auditable. I could transfer money in seconds,” he explained.

O’Leary further pointed out that stablecoin regulation legislation will likely occur after the U.S. midterm elections that are set to take place November 8 this year. “There will be a change in leadership,” said O’Leary. Warren added that the crypto sector is currently witnessing “regulatory madness,” noting that there is not a single jurisdiction not focused on crypto innovation at the moment, “This is the most important effort of our time. We are currently laying the foundation for crypto moving forward.”

To put this in perspective, Scaramucci told Cointelegraph that retirement plan provider Fidelity Investments announcing 401(k) retirement saving account holders the option to invest in Bitcoin (BTC) is a seismic event in terms of pushing crypto regulation forward. “I predict that Fidelity will do for Bitcoin and possibly other crypto what it did for the U.S. stock market in the 80s and early 90s. Fidelity has $2.4 trillion dollars in retirement accounts under custody, so just imagine a small sliver of that moving into Bitcoin.”

Scaramucci also revealed that SkyBridge will soon be offering a Bitcoin retirement option plan to its employees. Yet, he pointed out that a Bitcoin exchange-traded fund (ETF) within the U.S. is the biggest elephant in the room at the moment. “I’m hoping we will see a Bitcoin cash offering by the end of this year. If this happens, it will force all major financial services companies to have a Bitcoin cash offering moving forward.”

Binance to drive crypto and blockchain awareness among Indian investors

April 30, 2022 Coin Telegraph

Binance

Binance also highlighted that Indian regulators and policymakers cite the lack of education as an area of concern, hindering crypto’s widespread adoption in the region.

Crypto exchange Binance announced the parallel launch of three key educational initiatives to fast-track educating Indian investors and students about the cryptocurrency and blockchain ecosystem.

While recognizing the importance of investors’ awareness of crypto and blockchain, Binance highlighted that Indian regulators and policymakers cite the lack of education as an area of concern, which currently hinders the widespread adoption of crypto.

Primarily targeting the student demographic in India, one of the three educational initiatives launched by Binance involves the initiation of the ‘Blockchain for Good’ Ideathon, a platform for college students to come up with solutions for making crypto more accessible and inclusive.

Binance also partnered with India-based crypto influencers and educators, including Neha Nagar, Aditya Saini and Kashif Raza, to host a free webinar named Crypto for All on May 1. According to the official announcement, the crypto influencers will focus on teaching the basic concepts of blockchain and crypto while demystifying myths related to crypto trading:

“Along with providing certificates issued over blockchain by Binance NFT to all attendees, select winners will receive grand giveaways in Bitcoin and Binance Coin (BNB).”

Excited!@binance has chosen me for their mission to educate masses on crypto assets and Blockchain.

Plz register yourself for a LIVE webinar on 1st may 2022 at the link https://t.co/b1XUiAF77u

Each participant will get a free certificate on Blockchain issued by Binance. pic.twitter.com/YBYgj6bKAa
— Kashif Raza (@simplykashif) April 26, 2022

Speaking to Cointelegraph about the Indian landscape, the founder of Bitinning, Kashif Raza, revealed that “The major roadblock in the current crypto education system is that there are not enough platforms providing education in a simplified manner.” He also pointed out the need for introducing educational information in various languages to cater to the vastly diverse Indian population.

Binance’s third initiative is the newly launched Learn and Earn program that allows users to earn crypto while learning about the crypto and blockchain ecosystem. Being a long-standing crypto educator in India, Raza highlighted Binance Academy’s role in keeping up-to-date with the latest educational information.

Underscoring the untapped opportunity in educating the young crowd of India, Leon Foong, Head of APAC at Binance, stated:

“We hope to create the right incentives for users to do more thorough research and make better-informe investment decisions.”

The crypto exchange has also partnered with one of India’s top tier universities, the Indian Institute of Technology Delhi (IIT - D), as a title sponsor for its cultural fest Rendezvous to showcase use cases, including NFT tickets and certificates, fan tokens and Proof of Attendance Protocol (POAP).

On an end note, Raza recommended fellow Indians to educate themselves about the crypto ecosystem before making investments:

“Learn first and then think of earning. Web3 > crypto and one should understand the underlying tech and also try to build a career in it.”

While counter-productive on some levels, India's decision to levy heavy taxes on crypto investors has brought over certain clarity around the government’s stance on the budding ecosystem.

In early April, Coinbase Ventures, an investment arm of American crypto exchange Coinbase, conducted an in-person pitching event in Bangalore, India, with plans to plan to invest $1 million in various Indian cryptocurrency and Web3 initiatives.

In partnership with Buidlers Tribe, Coinbase CEO Brian Armstrong revealed that the venture firm intends to tap into India’s software talent and help accelerate India’s economic and financial inclusion goals. Speaking to Cointelegraph about the impact of the new tax law in attracting foreign investments, Buidlers Tribe co-founder Pareen Lathia stated:

“Tax law is just one positive step. This is a paradigm shift, and regulations will catch up.”

From beer to Bitcoin as legal tender: A BTC education in Roatán

April 21, 2022 Coin Telegraph

caribbean

How a small-scale Bitcoin education project involving a former brewery collided with plans for Bitcoin as de facto legal tender.

Few crypto enthusiasts around the world could point to the remote island of Roatán prior to the Bitcoin 2022 conference in Miami.

Dušan Matuska was one of them, a Bitcoin (BTC) educator whose plans to open a Bitcoin education center in a former brewery entangled with the Satoshi Nakamoto-inspired vision of a special economic zone in Honduras called Próspera. Located on Roatán, Próspera accepts Bitcoin as a de facto legal tender as of April 2022.

But how did a Slovakian Bitcoin miner stumble across one of the few locations worldwide to accept Bitcoin as de facto legal tender? And, what does a brewery have to do with it?

In late 2021, Matuska’s Bitcoin mining friends mentioned the Honduran isle of Roatan, explaining their intention to buy a few plots of land on the picture-perfect island. Given the success of neighboring country El Salvador and the Bitcoin Beach Bitcoin adoption story, as well as his personal mission to teach 100 million people about Bitcoin by 2030, Matuska’s curiosity was piqued.

Matuska flew over from Paraguay, where he was investigating renewable Bitcoin mining operations, and quickly learned Roatán is a “nice small island in Honduras” that has “beautiful views.” It’s like a “hidden pearl of the Caribbean.”

However, it’s small, so “after two weeks having a holiday there, you start to get bored.”

“Since our mission is always to educate people about Bitcoin, we began cooking up ideas about a Bitcoin education center in Honduras.”

In line with other Bitcoin grassroots projects around the world such as El Salvador and Portland, Oregon, while drawing from his own experience educating people about Bitcoin at crypto cafés in Eastern Europe, Matuska began scoping out centers for Bitcoin education.

*The Paralení Polis alternative education café in Prague, Czechia. The space became a Bitcoin education center. Source: Google*

A curious coincidence, Matuska is Slovakian — Czechs and Slovakians are close and share similar culture and histories — and Czech is the second-largest expat population on the island after the Americans. What’s more, an old Czech brewery had fallen into disarray.

The former Czech brewery appeared to be the ideal opportunity to rejuvenate a tired space and convert it into a place where visitors could learn about the world’s largest cryptocurrency. “It looked like a Bitcoin Citadel,” Matuska told Cointelegraph.

The beers to Bitcoin story had begun.

However, the size and scale of restoring a large and derelict brewery into an education center were daunting. When Matuska and the team “checked it out, the building was rotten and damaged.” Restoring the relic would cost “maybe hundreds of thousands of euros to put back to a normal state.”

In another happy accident, the Próspera business event was taking place on the island, just around the corner. Próspera is a special economic zone in the center of Roátan that hosts its own civil law and regulatory structure. Próspera’s laws take inspiration from the hugely successful Shenzen economic zone in China, as well as Dubai.

*The Próspera special economic zone. Source: Prospera.hn*

Matuska left the brewery to take part in the conference buoyed by conversations he had about Honduras potentially adopting Bitcoin as legal tender. He explained that in Roatán in early 2022:

“You could pay some taxes in Bitcoin; businesses were super open to accepting Bitcoin, or any other currency, because there is a huge amount of freedom in the whole area.”

During the conference, a golden opportunity presented itself: Matuska was asked to discuss his work with Bitcoin and education.

“I was thinking, okay, should I present the potential Honduras Bitcoin Education Center? Like, Is it okay or not? In the end, I decided I should.”

Shortly after the presentation about the brewery to Bitcoin project, Erick Brimen, founder and CEO of the Próspera special economic zone, turned to Matuska. “Come with me,” he said.

“Erick Brimen took me to a building at the highest viewpoint on Roatán in Pristine Bay. It’s an amazing building. Right now, there’s a school but it’s outgrown the building. In June, it’s going to be free. And. it’s going to be where we start building the center.”

Forget the derelict brewery, an even better Bitcoin education center had fallen into Matuska’s lap. Moreover, Matuska got the nod from the CEO of the organization that was the driving force for Bitcoin as legal tender in Próspera.

Visited Roatan island in Honduras last week to find a place for our future Bitcoin Education Center. We were offered this wonderful building in @Prosperahn to start in one of the most #Bitcoin friendly jurisdictions pic.twitter.com/6zrWpXAzJf
— Dusan Matuska (@dusan_matuska) April 11, 2022

Brimen explained to Cointelegraph that the Bitcoin education center in Próspera aligns with their key strategic objectives of identifying “100 cocreators that will be ‘hands on’ in activating a string of strategic projects.”

“Dusan’s project is one of them, he’s co-creating something important to the jurisdiction by installing a Bitcoin education center. Decentralized finance is key and Bitcoin is a much better form of currency than traditional fiat. We want to enable that.”

Upon seeing the new building and the scale of the project, Matuska’s brain went into overdrive. He needed to talk to his girlfriend, his colleagues, immigration authorities and airlines as they had just “a couple of weeks or months just to set it up and start to put everything together.”

Matuska told Cointelegraph that the Próspera project was keen to do “everything on Bitcoin.” A deal was struck just weeks before Bitcoin 2022.

During Samson Mow’s keynote speech at Bitcoin 2022, Bitcoin as a de facto legal tender was announced in Próspera, Honduras and Madeira, Portugal, while a Mexican senator shared ambitious Bitcoin plans for her country.

*The announcement made during Bitcoin 2022 in Miami. Source: YouTube*

Matuska jokes that Bremen almost mentioned the Bitcoin education center during the keynote speech, but the time constraints of just “90 seconds on stage” didn’t quite allow for it.

Back in Honduras, the Bitcoin education center is growing in importance as part of Próspera’s and Brimen’s vision for Bitcoin. Ultimately, Bitcoin should be understood and used correctly.

*The view from the top of the Bitcoin education center in Próspera. Source: Matuska*

Brimen told Cointelegraph that “it is not enough to simply make it legal,” as people should “have the tools available to them as well as the knowledge to use it optimally.” He continued:

“Since it is considered legal tender, we want to enable people to not just have the right to use it but to use it responsibly.”

As a result, Matuska is keen for Bitcoiners around the world to visit, reach out and be part of the change occurring in Honduras.

“Próspera actually asked us to be the leaders in terms of onboarding businesses in Honduras, helping them out and setting everything up. For us, it’s a huge leap toward our vision of accelerating Bitcoinization. And, that’s why I just couldn’t say no.”

“Lecturers from Czechia and Slovakia are flying out to teach,” but the team is still thin on the ground. As Brimen concludes, “to use Bitcoin to the maximum benefit possible,” they are going to need all the help they can get.

*The Próspera Bitcoin education center. Source: Matuska*

As for the former brewery that's fallen into disrepair, Matuska told Cointelegraph that "maybe" in the future, there will be a Bitcoin-related project taking place there. It'd be a shame to let such a beautiful building go to waste.

Top universities have added crypto to the curriculum

April 15, 2022 Coin Telegraph

Coin Telegraph

Universities have been helping with blockchain-related research for quite some time and, now, some world-class universities have added the technology to their curriculum.

The world of digital assets saw a significant rise last year. The total cryptocurrency market cap reached $3 trillion, making more people, governments and universities take a closer look at the asset class.

The presence of crypto in the world’s major economies has created a big opportunity for diverse startups in the industry, leading to a massive demand for digital assets. This newly born market has helped develop more working and educational opportunities, among other things.

Furthermore, some of the world’s top universities and educational institutions including MIT, the University of Oxford and Harvard University, have added pieces of the burgeoning technology to their curriculums.

Here are some of the top universities that have added blockchain-related subjects to their syllabus.

Massachusetts Institute of Technology

When it comes to research, few come close to the Massachusetts Institute of Technology (MIT). MIT is renowned for its groundbreaking research and competitive academic curriculum and is ranked second only to Harvard University. The institution is, without doubt, the leading university in terms of blockchain technology, taking a research-driven approach to the decentralized ecosystem.

The institution boasts of impressive academic staff, with current United States Securities and Exchange Commision Chair Gary Gensler teaching a blockchain course at the university. On-campus, it has one of the oldest Bitcoin (BTC) clubs called the MIT Bitcoin Club, which serves as the epicenter of blockchain discussions at the university.

The university famously launched the MIT Digital Currency Experiment back in 2014 and distributed Bitcoin to students in a bid to foster cryptocurrency adoption. The university has gone ahead with its peer-reviewed journal on Blockchain technology to catalog the growing interest of researchers in the field. True to the ethos of decentralization, the journal is distributed freely.

Courses offered at the university include:

Blockchain Ethics: The Impact and Ethics of Cryptocurrency and Blockchain Technology
B Digital Frontier: Emerging Blockchain Havens
Shared Public Ledgers: Cryptocurrencies, Blockchains, and Other Marvels

*MIT's Building 10 and Great Dome. Source: Madcoverboy*

Harvard University

Harvard is one of the oldest universities in the United States and has earned a reputation as part of the most prestigious universities in the world. Founded in 1636, the Ivy League college has churned out a record eight U.S. presidents, fourteen Turing Award winners and multiple Nobel laureates.

In line with the principles of excellence and innovation, Harvard has added blockchain education to its curriculum. For starters, the university teamed up with Coursera to provide six free courses on cryptocurrencies that cover the fundamentals all the way to intermediate levels. An online introductory course titled “Breakthrough Innovation with Blockchain Technology” explores the combination of AI and blockchain across several industries.

Harvard also offers a thriving blockchain student community with over 200 members. Weekly “Crypto 101” discussions are held and the presence of an incubator on the campus allows students to build and scale their cryptocurrency projects.

National University of Singapore

Singapore is one of the leading cryptocurrency hubs in Southeast Asia and the National University of Singapore (NUS) is at the core of the crypto adoption. The university was founded in 1905 and its dedication to original research has consistently put it among the leading universities on the continent.

The university’s blockchain offering centers strongly around research and entrepreneurship with interesting essays being published on harnessing blockchain for decentralized computing and improving distributed consensus and smart contracts. NUS offers an in-depth blockchain curriculum that cuts across several fields and levels from beginners to CEOs and mid-level managers.

The school boasts of courses at both undergraduate and postgraduate levels with vibrant student-led crypto clubs. Furthermore, these crypto clubs allow students to learn from their peers and publish essays on the use and future of blockchain technologies.

Leading courses in the curriculum include:

Enterprise Blockchain And DLT for Executives
Blockchain, Digital Currencies, And Distributed Ledgers Start From Here

*University Hall at the National University of Singapore. Source: Joshua Rommel Hayag Vargas*

Oxford University

Oxford University occupies a leading place among world universities and holds the record of being the second-oldest university in operation. The English university ranks as having the largest university press and the largest academic library system that sets it apart from its peers.

In terms of blockchain, Oxford is one of the leading centers of learning for the new technology in Europe, thanks to an expansive research center. The blockchain research center has produced a litany of interesting blockchain essays, with the Oxford-Hainan Blockchain Research Institute recording significant strides.

Oxford Foundry, the university’s entrepreneurship hub, has struck interesting partnerships with Ripple to facilitate a wider blockchain technology. The university has a vibrant student-run community called the Oxford Blockchain Society that competes favorably with its contemporaries in other institutions. In terms of learning, the university has one of the most comprehensive blockchain learning. Top courses include:

Blockchain Software Engineering
Blockchain For Managers
Oxford Blockchain Strategy Program

Cornell University

Cornell University was founded in 1865 and has carved a niche for itself as one of the leading research universities in the world. The university is among the top five schools with graduates going on to pursue their PhDs and with an average of over $500 million spent annually on research and development, it’s easy to see why.

The university boasts an impressive alumni list that includes 33 Rhodes Scholars, 10 CEOs of Fortune 500 companies and 35 billionaires. Cornell University also offers undergraduate and postgraduate courses focused on blockchain technology. The caliber of the academic staff is impressive and made up of persons like Emin Gun Sirer, with multiple papers presented at blockchain conferences as far back as 2014.

Students from the university have secured roles in leading blockchain firms like Coinbase and ConsenSys through the help of the Cornell Blockchain Club. The club is student-run and has gone on to publish interesting papers on blockchain technology and famously hosted its annual conference with an impressive lineup of speakers from the cryptocurrency ecosystem. Courses offered at the university include:

Cryptocurrencies and Ledgers
Applications of Blockchain Technology
Introductions to Blockchains, Cryptocurrencies, and Smart Contracts
Cryptography Essentials

*The Arts Quad with McGraw Tower at Cornell University. Source: Eustress*

University of California, Berkeley

Founded in 1868, the University of California, Berkeley is a leading institution for blockchain enthusiasts. The university’s diversity is evident in its fourteen colleges and over 350-degree programs that it offers to thousands of students.

Research is one of the core reasons why the university makes the list as it has one of the longest streaks of blockchain research. The Berkeley Haas Blockchain Initiative is the main driver of blockchain research and is largely funded by Ripple Labs. Research grants are made available to students to dive deep into the applications of the nascent technology, with particular progress being made in the areas of stablecoins.

The university also offers a “Blockchain Fundamentals Professional Certificate Program” through the online education platform edX. In terms of curriculum, the University of California, Berkeley offers students an expansive blockchain offering that includes:

Lattices: Algorithms, Complexity, and Cryptography
Blockchain, Cryptoeconomics, and the Future of Technology, Business and Law
Blockchain Fundamentals

Grassroots initiatives are bringing Bitcoin education to communities across America

April 11, 2022 Coin Telegraph

Analysis

Members of America’s crypto community aim to teach financial literacy by discussing Bitcoin at local meetups and neighborhood “corner classes.”

Bitcoin is becoming one of the biggest buzzwords in the world. Data from a July 2021 survey conducted by analysis firm Exploding Topics found that roughly 1,700 American adults, or 89% of participants, had heard of Bitcoin. A recent survey from the cryptocurrency platform Paxful also found that 95% of women out of 1,555 females polled in the United States were familiar with Bitcoin.

While Bitcoin’s (BTC) presence is notable, there still seems to be a lack of understanding regarding BTC and cryptocurrency. For instance, Paxful’s survey discovered that 43% of women polled in the United States want to learn more about Bitcoin, even though 95% of these individuals know that BTC exists. In addition, underprivileged communities and minorities have expressed interest in learning about Bitcoin and crypto as digital assets gain popularity.

Bitcoin in low-income American communities

In order to bring crypto education to those who need it the most, grassroots initiatives are launching throughout the U.S. that target disenfranchised communities.

For example, Najah Roberts, CEO of Crypto Blockchain Plug — a Black-owned crypto education center based in Inglewood, California — told Cointelegraph that she will soon be traveling to 41 cities across the U.S. to help disenfranchised communities understand Bitcoin’s importance:

“From May 29 to July 13, my team and I will be going to different cities in the U.S. to help people download digital wallets, along with educating them on why Bitcoin is critically important to the black and brown community. We will be in some of the poorest cities in America, all within a 45-day time period.”

Known as “The Digital Financial Revolution Tour,” Roberts explained that this will be the second year she will travel across the country with a team of crypto experts to promote Bitcoin education. “We previously reached about 2,000 people last year, which was incredible given that the world was still coming out of the COVID-19 pandemic,” Roberts said. Given the project’s previous success, Roberts believes this year’s tour will produce phenomenal results.

“We are going to be holding ‘corner classes,’ meaning we will set up shop on different corners in the middle of inner cities. Most of the people who stop by will most likely be unfamiliar with Bitcoin, while some may be familiar with it but want to learn more. My personal goal is to give everyone $10 worth of BTC just for registering.”

Roberts elaborated that the second Digital Financial Revolution Tour will begin in California in cities including Los Angeles and Oakland, and will then head to Las Vegas, Arizona and New Mexico. “We plan to go to the poorest places first, like Lake Charles in Baltimore. We picked the most disenfranchised, unbanked and underbanked areas to get folks educated.” Rather than hosting “corner classes” outside neutral locations like a local church, for instance, Roberts explained that groups will congregate in front of beauty shops and neighborhood storefronts. “I try to be objective about locations so everyone feels comfortable to come out and learn.”

While the idea of traveling across 41 different cities in the U.S. within a 45-day timespan may sound difficult, Roberts shared that the biggest challenge this year is to help people in low-income communities understand why they actually need Bitcoin:

“We have to meet people where they are, even if that means going to housing projects or neighborhoods where politicians never even visit. Our goal is to not only get people to understand Bitcoin but also to change the way they think about money. This is about financial literacy and understanding how money works.”

Roberts isn’t the only one aiming to bring financial literacy to the masses. Bitcoin analyst Tony Tate told Cointelegraph that no one ever talked about money when he was growing up due to community values. “No one ever talked about politics, religion or money where I came from,” he said. Yet, Tate stated that education has always been a priority for him, which is why he believes educating disenfranchised communities will make it easier for individuals to understand the potential of cryptocurrency:

“People should be afraid of fiat money because it’s not backed by anything. Blockchain, however, is backed by proof-of-work or proof-of-stake mechanisms, so getting this education in the hands of people who don’t have a lot makes it easier for them to understand.”

In order to accomplish this, Tate recently launched Litchain, a Bitcoin educational initiative expected to spur economic growth in the rural town of Gaffney, South Carolina. “We opened the doors of the first Black-owned Bitcoin data center in Gaffney. The 20 modular data centers will house Bitcoin mining computers and create jobs that pay $60,000 or more,” he explained. The Litchain Corporation’s new data center is one of Tate‘s first three mining centers in the U.S. He said that the company aims to open 144 more across the country:

“All the time, we hear about mining companies opening their doors somewhere, but we never see the faces behind them. It’s very important that I open a BTC mining center in a community where people can associate a name and face with cryptocurrency adoption. This will make mass adoption happen faster.”

*Tony Tate at the opening of Litchain's Bitcoin datacenter in Gaffney. Source: Litchain*

In addition to the Litchain data center, Tate said that he is launching a five-year crypto education initiative on crypto literacy:

“This project will provide courses in crypto education to minorities interested in learning about crypto assets. Education materials and outreach efforts will explain how crypto assets work and how they differ from traditional payment formats to illustrate how crypto could offer benefits to blacks and minorities that have been historically discriminated against by traditional banks.”

According to Tate, this initiative will include a grassroots campaign, digital advertising and online courses provided by LitU, which is Tate’s online university that will also feature pop-up community classes in Philadelphia, New York, Washington D.C., Houston, Chicago, Atlanta, Detroit, Cleveland, Charlotte and Charleston. Tate hopes these initiatives will inspire others to look at Bitcoin as an improved financial inclusion system and a major step in closing the racial wealth gap in the United States. “Everyone has to wrap their minds around crypto before the world wraps their arms around it,” he remarked.

*A look inside Litchain’s Bitcoin datacenter in Gaffney. Source: Litchain*

While both Roberts and Tate are launching large scale initiatives, crypto influencer and YouTuber Wendy O told Cointelegraph during NFT LA that she will soon be launching a local grassroots initiative in Los Angeles to teach youth between the ages of seven and seventeen about Bitcoin, cryptocurrency and nonfungible tokens, or NFTs. Wendy O explained that she will partner with the Los Angeles based Self-Care Lab Boxing and Fitness Club to host monthly meetups to teach children about the blockchain and crypto ecosystem:

“In reality, anyone can participate in crypto. For instance, I come from an underprivileged neighborhood in Los Angeles, which is why it’s important for me to include everyone in this initiative. I’ve hosted dozens of meetups in LA county since 2018 to create a place for people to learn about crypto without having to pay thousands of dollars for a conference ticket or be shilled coins, or even Bitcoin for that matter.”

Like Roberts and Tate, Wendy O wants to use cryptocurrency education as a way to promote personal finance. “Financial literacy isn’t taught in schools, unfortunately. But, when individuals learn how money works, they are able to change their spending habits and even break away from generational curses,” she said. Wendy O explained that when she initially learned about Bitcoin in 2011 and was able to better understand fiat money and inflation. “I think these kids will be able to take this information and retrain their minds to do things differently than previous generations.”

Getting grassroots initiatives off the ground

While it’s extremely notable that grassroots initiatives are being launched by members of the crypto community, it’s also important to recognize the challenges that may arise along the way.

For instance, Roberts pointed out that last year’s Digital Financial Revolution Tour was entirely self-funded, noting that she hopes to secure sponsors this year. “We are in the process of speaking with the hardware wallet provider Ledger, as we aim to give everyone physical wallets and show them how to store their seed phrases.” Wendy O also hopes to partner with a cryptocurrency wallet provider or an exchange to ensure that food and drinks for her monthly meetups can be covered. “I would like to give $25 worth of BTC to everyone who attends,” she said. Regardless of sponsorships, both Roberts and Wendy O are optimistic that their projects will teach those in need about financial literacy simply by explaining how Bitcoin and cryptocurrency work.

Grassroots initiatives sponsored by crypto companies have proven to be very successful given the added help. For example, GoodDollar — a nonprofit protocol for financial education and inclusion in Web3 — launched an ambassador program early last year to allow its 350,000 community members to distribute free crypto universal basic income to anybody with access to a cell phone and an internet connection.

Jessica Salama, community lead at GoodDollar, told Cointelegraph that individual GoodDollar ambassadors are making headway in spreading the word about crypto by showing others how to use and access digital currency.

She said that GoodDollar ambassador Etugbo Obokparo Stephen in Nigeria has hosted local meetups at his university to help fellow students open their first digital wallets and begin learning Web3, crypto and blockchain fundamentals. “His initial gathering was the first blockchain conference ever held in his locality,” Salama said.

To promote Crypto Education @gooddollarorg and I helped a student in Nigeria to get a new smartphone to study and start his Crypto journey. It's my desire to do more. I was suppose to go around Schools early this month to further do Crypto Education... pic.twitter.com/dXAkgTU86J
— StevE (@StevE78846497) April 7, 2022

Stephen further told Cointelegraph, “I’ve always communicated with people on social media, but when I joined GoodDollar’s ambassador program, I was able to bring more people into crypto because they supported my initiative financially and with words of encouragement.”

Education

Cryptocurrency education and technostress

How the wealth gap serves as a barrier

How leaders and developers can navigate these barriers

Traditional finance eyes crypto as regulations take shape

If you build it, they will come

Crypto undergoing “regulatory madness,” but future looks bright

Massachusetts Institute of Technology

Harvard University

National University of Singapore

Oxford University

Cornell University

University of California, Berkeley

Bitcoin in low-income American communities

Getting grassroots initiatives off the ground

Share this video