Eric Adams, elected as mayor of New York last Tuesday (2), declared that schools should teach about Bitcoin technology. The statement came in an interview with CNN when Adams was asked what was his motivation for wanting to receive his salary in Bitcoin.
This could see a new generation better educated about economics in the future, possibly adopting Bitcoin as their currency. While Bitcoin is synonymous with money, it also involves cultural issues like its philosophy of freedom of choice.
A similar case is that of El Salvador, which, although it has no plans to teach Bitcoin, will be building 20 new schools on account of the revenue earned from its more than 1,000 bitcoins purchased in recent months.
Bitcoin in schools
Currently, most schools do not have any timetable for teaching basic economics to their students. With this, young people grow up without any knowledge about what money is, a fundamental part of our lives.
In addition to stating on his social networks that he wants to earn his first three salaries in bitcoin, Adams also wants schools to teach about Bitcoin, its technology and philosophy. When asked to explain what Bitcoin is, Adams noted that this is challenging even for subject matter experts.
“This is challenging even for specialists. [Bitcoin] is a cryptocurrency, a new way to pay for goods and services around the world. And that’s what we should do, open our schools to teach about technology and this new way of thinking.”
Educating people about Bitcoin is tricky because we must first explain the history of money. Furthermore, it is also a challenge to explain technical aspects objectively to lay people.
As a result, we will have a new generation more aware of the flaws of fiat currencies such as the dollar, as well as a better sense of other aspects of Bitcoin, such as freedom of choice and privacy.
Schools, on behalf of Bitcoin
On September 7, El Salvador passed the Bitcoin Law, making it legal tender in the country. Law that today completed two months and during this time was the target of criticism, after all Bitcoin was created to be used by those who want, and not out of obligation.
Going back to schools, it is also important to mention that El Salvador is planning to build 20 schools with the profit made by buying its bitcoins. In total, the country accumulates 1,120 BTC purchased over the past two months.
Although it has not announced its intention to teach Bitcoin in schools, Salvadorans are learning by doing what it is like to use a currency that is decentralized and not controlled by a country.