The pursuit to become the leading crypto hub in Central America has forced El Salvador to invest in improving its business attractiveness to push for mainstream adoption of Bitcoin. On September 8, the Salvadorian Ministry of Education officially launched the pilot program for Bitcoin education. The project aims to equip learners in public schools with fundamental principles of Bitcoin, blockchain, and crypto technology.
Impact of Bitcoin Education in Schools
During the launch, local Bitcoin initiatives, including Bitcoin Beach and My First Bitcoin, pledged to liaise with the ministry to educate the teachers and students. Firstly, the two facilitators plan to enlighten around 150 teachers from local public schools on matters concerning Bitcoin and crypto technologies.
After the training, the trained teachers will be equipped with additional skills and knowledge to teach their students. Speaking exclusively with local news outlets, the founder of non profit firm My First Bitcoin, John Dennehy, confirmed the readiness of teachers to train their students on crypto.
The executive stated that the several teachers have completed their Bitcoin diploma. Dennehy explained that, ideally, the Bitcoin training takes more than a year. He added that after the diploma teachers are more enlightened and empowered on Bitcoin. From 2021, the NGO, has educated over 25000 students.
Scope of Bitcoin Diploma
In 2022, My First Bitcoin team launched a Bitcoin Diploma program for ten consecutive weeks. The team behind the diploma ensured the learning material was easily accessed through the online webpage.
The training was open source to ensure the learner could easily refer to their notes anytime through the online platform. Unlike traditional colleges and universities with massive open online courses (MOOCs), the Bitcoin Diploma will be an open-source training.
The Bitcoin Diploma has commonly been used to educate the Salvadorian crypto natives on crypto matters. Recently, the staff working at the Ministry of Education were the last cohort to undergo the Bitcoin Diploma training. Also, the training is currently offered to teachers in public schools.
Benefits of Educating Community on Bitcoin
Guided by the 187-page student workbook, the training seeks to equip the learner with skills in economic education. The workbook explores other subjects in the role of money and the history and evolution Salvadorian currency.
The student workbook has English, German, Spanish, and Korean versions to reach a large audience. Notably, in 2021, El Salvador became the first country to accept Bitcoin as a legal tender.
The crypto firiendly country has attracted inputs from scholars, economists, investors, and regulators to support the government in realizing the intended purpose. A few months ago, Saifedean Ammous, an economic adviser, authored a Bitcoin book titled “The Bitcoin Standard.”
In this book, Ammous advises El Salvador President Nayib Bukele on effective ways to leverage crypto and blockchain technology to free the country from debt.
The valuable insights provided by Ammous were also incorporated into the students’ workbook. Under chapter 3 of the workbook, Ammous insights are entirely captured.
In this chapter, the student will explore factors contributing to currency debasement. Occasionally, currency debasement occurs when the country’s central bank decreases the value of local fiat by increasing the money in supply.
Besides the remarkable work of Ammous, Dennehy recognized the contribution made by a small group of teachers from El Salvador and the US who co-authored the workbook. In earling publishing stages the document has undergone further review to ensure that it positively impacts the students. Giacomo Zucco, a prominent developer in Bitcoin and Lightning networks, was among the team who reviewed the workbook.
Factors Contributing to Growth of Crypto Native Community
The exemplary work done by the My First Bitcoin team has enabled the firm to broaden its geographical presence to over 20 countries, including the UK, Canada, and other parts of Asia. Since 2021, the My First Bitcoin team has faced difficulties in the attempts to enlighten the community on cryptocurrency.
Despite the challenges, Dennehy lauded that the Salvadorian students portrayed their eagerness to learn more about Bitcoin and crypto. Driven by the desire to change the world through Bitcoin, the My First Bitcoin team has partnered with several governments to create awareness in the community on the benefits of implementing crypto technologies.
A few months ago, two countries in Latin America sought to collaborate with the My First Bitcoin team to launch Bitcoin education in schools and colleges. Currently, the NGO, has been working with the Mexican government to teach 250 learners on Bitcoin.
In the ongoing partnership with the Mexican government, the My First Bitcoin team is working closely with Indria Kempis Martinez, the pro-crypto senator in the region. From entering into strategic partnerships with multiple governments, the non-profit firm seeks to continue expanding to other areas. In the meantime, Dennehy stated that the company will focus more on widening its presence in El Salvador to support its expansion plan.
