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In 2022, Cryptocurrency The market literally shivered in all directions. cipher‘s The market capitalization has fallen to less than $1 trillionBitcoin is down 65% from its all-time high. But despite these circumstances, a new report from blockchain intelligence company chainless He found that cryptocurrency adoption has slowed less than expected despite the bearish start to the year for the cryptocurrency market. In fact, it is still above pre-market levels from 2019.
Some countries dominate adoption The index contains different socio-economic statuses, from low average income to above average high income. Some countries include Vietnam and philippinesUkraine, India, Brazil, Colombia, Ecuador, Thailand, the United States and the United Kingdom.
Data shows that people, start-ups and large companies have been stuck Cryptocurrency And the blockchain though encryption winter. They continue to pump large chunks of capital into digital assets and their underlying assets technology. And no wonder: Blockchain offers many advantages and benefits not only to individuals but also to entrepreneurs and companies from various industries.
The benefits that crypto and blockchain bring to the table could be an effective solution to some of the pain points for today’s companies and their customers, but it takes a lot. coding tutorial.
What is cryptocurrency?
The most popular Google searches about cryptocurrencies are: “what is cryptocurrency”, “how to invest in cryptocurrency”, “how cryptocurrency works,” etc. Nearly 15 years after its inception, there is still a lack of educational content and resources for people and organizations to understand and adopt cryptocurrency and blockchain technology.
This lack of crypto education leads people to make ill-considered decisions when investing in cryptocurrencies, and they usually end up doing somewhat worse than they initially thought. For example, a recent survey showed that almost 50% of Americans who have invested in cryptocurrency say it has “performed worse than expected”. in spite of that, more than 60% of American parents believe that children should learn about cryptocurrency in schools.
Why Cryptography is Necessary for Cryptographic Adoption
to reach widely adoptedIt is necessary to spread Financial Literacy for crypto assets and blockchain education to understand how this technology and the entire crypto space works – and make education more accessible.
The most educated user is unlikely to fall into the usual traps in the crypto world, such as rug pulls or phishing scams. Companies can benefit from exploring and adopting blockchain technology and avoid some pain points.
For example, the immutable nature of the blockchain does not allow chargeback; Transactions are immediate and irreversible. Chargebacks are often used as a tool to commit friendly scams, which is a huge pain for merchants due to false positives, operating costs, chargeback fees and fines that caused small and medium-sized businesses to spend more than $35 billion in 2021.
Should companies be educated in crypto?
Companies can expand internationally with low-cost and fast international payments using cross-border blockchain-based solutions. Moreover, the merging ethereum It marks an important step in the blockchain becoming more scalable, cost effective and energy efficient for its users and companies looking to build on its ecosystem.
The merger successfully transformed Ethereum from Proof of Work (PoW) to Proof of Stake (PoS). This means that the network does not need to rely on miners to generate and validate transaction blocks, but rather on a group of network nodes that acquire ETH to validate and generate these blocks, reducing power consumption by 99%.
How do institutions and universities disseminate coding education?
Fortunately, many initiatives are being taken by crypto institutions, universities and even countries all over the world, not only on a financial level but on a technical level as well. Popular examples of universities are Royal Melbourne Institute technologyand the Massachusetts Institute of Technology (Massachusetts Institute of Technology). From an early age, coding education should be available to all those interested in this sector. It will ensure future prosperity and rapid adoption. Global universities can help the community learn about cryptocurrencies.
Blockchain companies are too Finance Many universities to help accelerate research and growth. Another example is the Algorand Foundation, which has invested more than $50 million in funding a virtual research program.
As mentioned earlier, the Philippines is one of the leading countries in the rate of cryptocurrency adoption, and one of the main reasons is that nearly 80% of Filipinos are unbanked. Philippine universities She will offer free courses on Bitcoin and other cryptocurrencies after a Senate hearing discussing financial inclusion and the country’s regulatory frameworks.
Many crypto organizations offer extensive educational content on everything related to cryptocurrencies. These and other companies also provide training courses and interactive videos where people can learn about coding and earn rewards by completing exams.
Lack of coded education prevents mass adoption
The lack of crypto education is what has been holding back the adoption of cryptocurrency nearly 15 years after its inception. The good side of the story is that institutions are taking on many initiatives, companies, universities, and countries around the world. The next two or three years are key to deploying crypto and blockchain education and resources at scale so that users, developers, startups, and companies of all sizes can start investing in them as well.
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