One of the lasting effects of the 2017 digital asset boom is a growing educational interest in blockchain technology. A recent report revealed that while only 9% of college students have taken related courses, 26% are interested in furthering their education in the new field and 18% now own some form of digital asset. More so, top universities ranging from Stanford to Princeton have included blockchain in relevant curriculums. David Yermack, President of NYU Stern School of Business, believes that most financial data will migrate to blockchain-based organizations and “students will benefit greatly from studying this area.”
Nonetheless, a 2017 survey by HBSC reported that 80% of consumers who have heard of blockchain technology still do not have a comprehensive understanding of its application. This may well be a worrying statistic given that further research also predicts that the new technology is primed for mass adoption sometime within the next decade. Slowly but surely, more financial practices will start taking place on the blockchain, but many users will remain clueless about its benefits.
It doesn’t require a Ph.D. in economics to understand that a knowledge gap between users is bound to create concerning market asymmetries. Most of the people that could benefit from this technology do not have access to an Ivy League education, nor the time to study how it could improve their personal finances. Financial inclusion has been a core tenet of the blockchain ideology ever since the publication of Bitcoin’s whitepaper. However, a lack of accessible education presents a challenge to making this goal a reality.
Encouragingly, initiatives have been established to address this problem. Several of these projects build on current educational models such as Massive Open Online Courses (MOOC), academic resource compilations and guides to help beginners understand the basic concepts of blockchain. Still, more sophisticated and innovative solutions exist. The same economic advantages brought by the technology itself could, in fact, be a more powerful vehicle for mass education.
This last approach is pioneered by CryptoZink, a digital asset hybrid exchange that is using blockchain’s own capacity for built-in incentives to foster a network of educated users. The logic is simple: If anyone can receive direct rewards for helpful contributions, explaining complicated concepts, and sharing good practices, then the whole market is made healthier and more efficient. That’s an idea that makes both social and economic sense.
CryptoZink will also provide comprehensive educational materials and an extensive content library. Its users will have access to professional blockchain educators via webinars, online classes, in-person workshops, and one-on-one tutorials. They will find all the necessary learning tools in one place, instead of having to scour the web in search for disorganized information. Interestingly, all of these activities will be rewarded with ZINK tokens, the platform’s native token, as an incentive to professionals and enthusiasts alike. CryptoZink’s manifesto is a stark difference from how existing exchanges operate.
This commitment to education is underpinned by other components that make CryptoZink a fresh proposal in the current landscape. It promises to offer uninterrupted customer support, real-time news aggregation, and exchange listings curated by a community of traders, investors, and educators—all of which are features designed to promote financial inclusion and a sense of social responsibility.
All in all, addressing the knowledge gap is one of the most important steps on the road to mass adoption of blockchain technologies. Projects such as CryptoZink propose a clear path by meeting users where they are bound to be most engaged: the marketplace. The development of an exchange that also functions as a learning community is one of the most constructive user-facing applications the blockchain space has seen so far.