Students Learning ‘Dark Side of Fiat’ From El Salvador’s Bitcoin Curriculum
Students acquire knowledge concerning currency debasement, an approval to ‘The Bitcoin Standard’ book by Saifedean Ammous. However, he played no role in writing the curriculum.
On Thursday, precisely two years following the development of Bitcoin as a legal tender, the Ministry of Education in El Salvador initiated its pilot program meant to introduce Bitcoin education to the country’s public learning institutions. The programs were created by collaborating with My First Bitcoin and Bitcoin Beach, two native Bitcoin projects, and are going to teach 150 public school tutors about Bitcoin prior to their return to their local schools.
By 2018, crypto had been integrated into higher education. According to a report by Coinbase, 42 of the globe’s top 50 universities had at least one blockchain and crypto course. My First Bitcoin’s founder, John Dennehy, claimed that their teachers are prepared because, for more than a year, they have been training, teaching, and improving the Bitcoin diploma. In addition, public school tutors are under training.
El Salvador Marching the Bitcoin Path in Education
Two years ago, EL Salvador embraced Bitcoin as an official currency and acquired a lot of attention for being the first nation to execute the experiment on a vast scale. Despite technical problems along the way and on-the-ground adoption being restricted, tourism in the nation has risen.
Since My First Bitcoin’s introduction in 2021, 25000 in-person Salvadoran learners have benefited. In 2022, the non-profit created a 10-week ‘open-source’ Bitcoin Diploma, an indicator that its contents are wholly viewable and available online. This is not different from what universities and colleges have done with massive open online courses (MOOCs).
After its utilization to aid in educating learners across the country, the Bitcoin Diploma was utilized to teach the Ministry of Education staff regarding Bitcoin and is currently being utilized to train tutors. The 187-page student workbook comprises economic education focusing on subjects such as money’s role, its growth, and ‘fiat’s dark side.’ Besides, it entails translations in German, Spanish, English, and Korean.
El Salvador Students Learn Currency Debasement Linked Monetary Policy Targeting Fiat
The contents of the workbook reiterate themes from ‘The Bitcoin Standard,’ a popular Bitcoin book. Saifedean Ammous, its author, is El Salvador President Nayib Bukele’s present advisor. A Chapter 3 passage shows that currency debasement happens following the government’s reduction of its currency value by increasing the money supply or reducing the currency’s quality.
Dennehy explained that Ammous did not directly contribute to the course material developed by ‘a small group of tutors’ drawn from the U.S. and El Salvador. Nevertheless, an edition of the Diploma was previously evaluated by Giacomo Zucco, a famous Bitcoin and Lightning developer.
Bitcoin Study Integrated in Education Programs Across the World
Dennehy wrote that despite the struggle to get there, the students have been quite receptive over the past two years. At the moment, My First Bitcoin works with ordinary education programs in more than 20 nations, which includes numerous U.S. states, Hong Kong, the United Kingdom, Cuba, Canada, Guatemala, and others.
Concerning state education, Dennehy claimed that over the past month, two more governments in Latin America have contacted My First Bitcoin for possible partnerships regarding Bitcoin education. In addition, My First Bitcoin is in its initial-stage partnership with a Mexican state government for a pilot project teaching 250 learners about Bitcoin. Indria Kempis Martinez, a Bitcoin-supportive senator, is helping in this initiative.
Dennehy stated that they anticipate quick expansion, meaning that despite El Salvador being the current focus, the mission remains the world.
