by Sloane Moriarty
We currently sit hopeful, and at times overwhelmed, amidst the technology revolution. It seems as though every time we master one social media platform, software, or app, another overhaul occurs and our past knowledge goes to waste. For most people, adapting to modern technologies is a constant struggle - all it takes is one update to be left behind and disconnected from our ever-progressing world.
Take my grandma for example, who, at eighty-four, takes classes once a week with her friends on how to use her computer, as she is eager to keep up in this ever-changing world of tech. Her desire to learn and keep up with our generation outweighs her struggle with grasping this new information. If she can try to learn, why can’t we? For millennials and Gen Z, however, adjusting to new technology is pretty much natural. Our generations can seamlessly open up any sort of computer and navigate it perfectly at any given time as if it was part of our innate biological functions.
Yet, there are products that we refuse to welcome with open arms - products so technically complex it raises doubts for much of the population.
The most relevant of these “unfathomable” topics in the modern world is cryptocurrency.
For most, it’s something we know the basics of; It’s a digital form of currency, it's becoming increasingly popular among certain companies, and some businesses are even allowing you to pay with it. Although a large portion of Gen Z is under 18, and thus barred from the crypto market, it is necessary to learn about its intricacies, as cryptocurrencies have already begun to take over the currency world. The cumulative value of all cryptocurrencies accounts for 7% of the world's total money. Although this figure may seem small, this 7% is equivalent to 2.78 trillion dollars. Something this monumental needs to be understood by the majority of the population in order to ensure the success of both this system and those who are interested in investing in the future.
For most students, schools and teachers are the main sources of educational growth and thus essential resources when learning about these currencies and their impact on the future of money.
Knowledge of crypto is vital for our future generation as a surplus of jobs in the crypto field have become increasingly available. A report conducted by Indeed, an employment website, saw a 118% jump as of July 16th, 2021 in available crypto and blockchain jobs.
The blockchain, in simple terms, is a system that records transactions across a network of computers. One of the reasons people love it and trust it so much is that it’s decentralized, meaning it doesn’t have a governing body that controls it. This type of structure is extremely rare; Only 13% of our large companies are decentralized in the same way.
However, the main reason people are flocking to blockchain technology is that it’s safe. Its transaction record is unalterable; It can’t be deleted or tampered with, which prevents any sort of fraud or theft. This is a vital factor for the future generation, as with most technology, scams and theft are somewhat inevitable. It is essential educators provide their students with knowledge on ways they can complete transactions safely.
This being said, cryptocurrency isn’t for everyone. The value of crypto ebbs and flows, as the community gets more or less involved, and making money through it isn’t even close to a sure thing. Cryptocurrency is a risk, but sometimes it brings great rewards. It isn’t a school's job to push this new system onto their students, but it is their job to provide them with the information and resources they need to make an informed decision themselves on whether or not crypto is for them.
In a world where only 16% of those who buy crypto entirely understand it, we turn to the school systems in hopes that they won’t leave the next generation deprived of knowledge of our digital world.
Cryptocurrency cannot be something we “don’t understand and probably never will.” No. Instead, schools must take the initiative and open new, young minds to the world of crypto.