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What’s Ethereum? How do I spend it? How do I invest in it? Why should I want to know?

These are among the top questions many have about the cryptocurrency space. Without the answers, people tend to avoid the space, or act recklessly because they don’t fully understand its many nuances. 

So what if cryptocurrencies were part of overall financial literacy programs, including the core curriculums of school-aged children? The ins and outs of this new-fangled currency could be explained at an early age, just as the basics of math are taught. As a person progresses through their education programs, learning about cryptos could be a part of their studies.

This is a strategy being considered in Russia where officials want citizens, of all ages, to be better informed about cryptocurrencies. As it stands now, official classes or curriculums about cryptocurrencies are not offered on a widespread basis. However, as the digital tokens, and all that goes with them, becomes more widely used, i.e. more mainstream, there will be a need to provide structured education on the topic.

Let’s explore what Russia is doing when it comes to educating people about cryptocurrencies.

Russia working with World Bank

It’s been widely reported that Russia is taking steps to incorporate teachings for cryptocurrency into the country’s financial literacy strategy. The strategy could be precedential as countries and regulators grapple with ways to best educate their citizens about this new-fangled type of currency whose growth shows little signs of slowing.

Reports are that Russia’s finance minister wants to add the field of cryptocurrency to its finance literacy strategy that was developed with the input of the World Bank. 

Cryptocurrencies would be part of a larger program on financial literacy. Calls are for this program to be implemented in two phases to begin in 2017 and last through 2019. The second phase would begin in 2020 and last through 2023. The country’s finance ministry would be in charge of implementing the phases. 

Crypto and early education

Cryptocurrencies are clearly carving out their places as part of economies. Therefore, it seems to make only common sense to begin educating people as early as possible about their uses. The freshness of cryptos have made them a magnet for those who prey on those ignorant about their use. 

Providing the basics of the space early on in a person’s education can be key in preventing them from being duped. The complexities of cryptos also make people vulnerable if they don’t understand. 

As it stands now, there are a handful of Russian institutions that provide cryptocurrency-related education. They include Moscow State University’s Higher School of Economics and St. Petersburg State University of Economics.

Young, but smart

Some interesting findings about youth and their knowledge has surfaced. School children between the ages of 11 and 17 years were found to be experienced in creating digital projects. Some of them even possessed crypto-loaded portfolios! Clearly, they are doing better than some adults.

This is a proposal, so time will tell the efficacy of the effort. However, as stated above, such an educational program for cryptos is going to become more of a necessity, than a demand, as the space continues its evolutionary growth.