While “cryptocurrency” is still a relatively new financial word, it has already had far-reaching effects on many companies and altered how we finance new ventures. By the end of 2017, cryptocurrencies have risen to prominence as a hot topic of conversation. Although things have calmed down, digital currency and tokens are here to stay for the time being.
When the Bitcoin price hit $20,000, most people knew it was more than a fad. While Bitcoin’s not going anywhere anytime soon, its blockchain technology is. As it turns out, a decentralized digital ledger is a promising technology in many sectors since it ushers in new levels of security and transparency while storing information of varying types.
5 reasons to learn about cryptocurrencies for students:
Statistics show that compared to 2018, there are now twice as many students enrolled in crypto/blockchain-related courses. These individuals are studying various academic programs and have chosen to focus on cryptocurrencies as an additional elective. In contrast to what one might expect, most blockchain and cryptocurrency courses may be found in non-CS disciplines, including the humanities, law, and economics.
As many as 56% of the top institutions in the world currently offer courses on blockchain technology and cryptocurrency. Cornell University offers the most blockchain-related courses, including “Introduction to Blockchain, Cryptocurrencies, and Smart Contracts” and “The Anthropology of Money,” although UC Berkeley and Stanford all offer many.
We analyzed the five most compelling arguments for why students should learn about cryptocurrency.
1. Career Opportunity:
To begin with, there are many exciting academic and professional prospects for young people in the fields of blockchain and cryptocurrency. The blockchain industry is growing rapidly, and here are a few of the available jobs:
- Designer of blockchain systems
- Analyst, miner, developer, or whatever you want to call yourself in the crypto space.
- Engineer in charge of developing blockchain protocols in the cloud
- Creator of blockchain-based applications
If you’re a talented developer, learning cryptocurrency and blockchain could be a worthwhile investment in your future because those jobs pay more than $100,000 per year on average. Increases in job openings are expected as a natural consequence of the industry’s rapid expansion over the next few years.
2. Online Security:
Studying blockchain and cryptocurrency is worthwhile since it ushers in improved digital security methods. Blockchain is one of the most secure ways to make an online payment because of its decentralized structure and high level of encryption.
Since the blockchain system is decentralized and automated, there is no need to trust a third party with your private data and force them to store and process it manually. In the case of crypto transactions, anyone can view the history of these exchanges, but No information that could identify them individually is accessible to them.
3. Investment Opportunities:
When you grasp how blockchain functions and the fundamental principles of the cryptocurrency market, it is a genuine investment opportunity, this is why bitcoin ventures become popular and grow so quickly.
Students interested in blockchain technology and virtual currencies have a head start in the investment game. Learning about cryptocurrency in a classroom setting is useful even if you have no interest in trading. Moreover, regulators are making strides in establishing order in the cryptocurrency market. Since volatility issues may be resolved soon, traders can employ cryptocurrencies to diversify their holdings.
4. The Bigger Impact:
As I’ve already stated, the implications of cryptocurrencies and blockchain technology extend far beyond financial transactions. Many sectors are affected by blockchain technology. It can lessen the business’s burden and eliminate the need for international transactions.
Due to the difficulty in hacking decentralized systems, this enables safe record-keeping. Meanwhile, financial institutions anticipate a full transition to cryptocurrency shortly.
5. Government is taking it Seriously:
Cryptocurrencies have had a significant impact, prompting governments and financial institutions to investigate the possibility of institutionalizing and regulating digital coinage.
China, Russia, Singapore, Sweden, and Japan are just a few countries that have already launched their digital currencies or are making plans to do so. As a result, many twenty-first-century economics and finance majors feel compelled to at least scratch the surface of blockchain technology and cryptocurrency. They won’t have a whole picture if they don’t have it.
The Bottom Line:
Cryptocurrencies are no longer a fad; their study is no longer the province of a small but dedicated population subset. Universities, schools, and students would be remiss to overlook the rapidly developing and increasingly popular technologies of blockchain and cryptocurrencies, given their potential to radically alter modern economies’ structure.
Investment and development prospects in the cryptocurrency space are vast. Therefore, not only may students majoring in computer science profit from studying them, but also students majoring in economics and trading. Many governments still view cryptocurrencies as a concern. Still, they are beginning to recognize the promise of blockchain and are researching the technology to create their cryptocurrency. The widespread adoption of blockchain technology and the advent of digital currencies make these courses highly relevant and advantageous for students.