Investing in crypto education: How UP is future-proofing its students

The introduction of cryptocurrency in the education system is a recent phenomenon that attracted a lot of attention. Now, the Uttar Pradesh Board of Secondary Education will include  cryptocurrency in the curriculum for students between classes 9 and 12. In this article, we will explore how students can benefit from the addition of such future-forward elements in the education system, mainly from the Web3 space.

The next frontier of this decade looks like it is building apps on blockchains—virtual computers that operate on top of networks of physical computers. 

As part of the Web3 ecosystem, also known as the Value Internet, introducing cryptocurrency in the education system could help students understand the fundamentals of blockchain. students will learn about the underlying technology that powers crypto, which could be a valuable skill in the future.

Understanding crypto

India’s middle class was created in the 90s with the IT revolution. Training the current generation on blockchain technologies could transform the lives of 23 crore residents of UP. 

In addition, introducing cryptocurrency in the curriculum could also help students understand the concept of digital assets. As one of the most common types of digital asset, understanding crypto could be instrumental in helping students figure out how digital assets work, their value, and how they can be traded—another crucial skill in the future. 

Blockchain-based applications such as metaverse, NFTs, and Web3-powered gaming platforms have economic value intrinsically built in, as opposed to traditional platforms, whose value is added through payments.

This innovative method opens the door for creating assets and even experiences with an economic worth that can be traded. This is the birth of entirely new economic models, putting creators at the centre and ensuring that any developed IP becomes monetizable.

This can automatically provide employment to millions of talented youth.

To put things in context, YouTube during the recently held Google for India event said that its creative ecosystem contributed over Rs 10,000 crore to the Indian GDP in 2021. This same report also claimed that YouTube has generated more than 750,000 full-time equivalent jobs in India in 2021.

Web3, with its superior economics, can provide employment to millions of young people who are waiting to unleash their potential on the world.

Financial management

Another potential benefit of introducing cryptocurrency in the education system is that it could help students learn about financial management.

Cryptocurrencies, like traditional currencies, can be used to make purchases and payments. However, cryptocurrencies operate on a decentralised network, which means that there are no intermediaries involved in transactions. This could help students understand the basics of financial management, such as budgeting and saving, which could be valuable skills in the future.

Furthermore, introducing cryptocurrency could help students understand the importance of cybersecurity. As they operate on a decentralised network, they are highly secure but are still vulnerable to cyberattacks. Students learning about cryptocurrencies will also learn about the importance of cybersecurity, how to keep their digital assets secure, and how to protect themselves from cyber threats.

To sum it up, the introduction of cryptocurrency in the education system could have several potential benefits. By learning about blockchain technology, digital assets, financial management, and cybersecurity, students could gain valuable skills that could be useful in the future. 

This move by the Uttar Pradesh Board of Secondary Education is a step in the right direction towards embracing new technologies and preparing students for the future.

(Rajagopal Menon is currently the Vice President of WazirX.)