{"id":414962,"date":"2022-03-12T05:17:00","date_gmt":"2022-03-12T02:17:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/"},"modified":"2022-03-12T05:17:00","modified_gmt":"2022-03-12T02:17:00","slug":"crypto-education-can-bring-financial-empowerment-to-latin-americans","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/","title":{"rendered":"# Crypto education can bring financial empowerment to Latin Americans"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d7e507530c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d7e507530c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#%E2%80%9D_Crypto_education_can_bring_financial_empowerment_to_Latin_Americans_%E2%80%9C\" >&#8221; Crypto education can bring financial empowerment to Latin Americans &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#Unlocking_mainstream_adoption_through_education\" >Unlocking mainstream adoption through education<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#Financial_literacy\" >Financial literacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#Trust\" >Trust<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#Safety\" >Safety<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/crypto-education-can-bring-financial-empowerment-to-latin-americans\/#Teach_where_it_matters_most\" >Teach where it matters most<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Crypto_education_can_bring_financial_empowerment_to_Latin_Americans_%E2%80%9C\"><\/span>&#8221; Crypto education can bring financial empowerment to Latin Americans &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>In October 2021, it was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thebusinessyear.com\/cryptocurrencies-in-latam-15-percent-bitcoin-circulation-2021\/focus\">estimated<\/a> that <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 15% of the world\u2019s supply of Bitcoin (BTC) was in circulation in Latin America. According to a recent report <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoliteracy.org\/wp-content\/uploads\/2021\/10\/State-of-Crypto-Literacy.pdf?utm_source=Iterable&amp;utm_medium=email&amp;utm_campaign=campaign_Crypto%20Literacy%20Report%20campaign\">released<\/a> by Crypto Literacy, however, 99% of Brazilian and Mexican respondents failed a basic assessment on crypto literacy. Crypto adoption is well underway across the region \u2014 on the rise even \u2014 but, people still lack a basic understanding of its underlying <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a> and use cases.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/7f09e21f-a122-42cc-a60f-eadfb9607bf2.png\"><\/figure>\n<p>When this lack of basic crypto literacy is considered in the context of developing markets across Latin America, where the use cases for blockchain technologies hold real significance, it becomes a serious concern.<\/p>\n<p>Latin American populations who lack crypto literacy risk missing out on stablecoins that can offer protection against Latin America\u2019s rapidly rising inflation. As well as decentralized applications (DApps) that provide populations of unbanked individuals access to financial services from their mobile devices. In countries where remittances are a major facet of the economy, cryptocurrencies offer a faster and cheaper alternative for sending funds across borders. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/b13d0362-6b47-4611-91b7-04d8b4305f4a.png\"><\/figure>\n<p>So, how can we help Latin America\u2019s most underserved populations access this life-changing technology? Education.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Mass adoption of blockchain tech is possible, and education is the key<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Unlocking_mainstream_adoption_through_education\"><\/span>Unlocking mainstream adoption through education<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Education has the potential to address three key obstacles preventing mainstream crypto adoption: financial literacy, trust and safety.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Financial_literacy\"><\/span>Financial literacy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Financial literacy, or lack thereof, does not just stand as a barrier to crypto adoption: It stands as a barrier to traditional bank adoption as well. Across Latin America and the Caribbean, nearly 50 percent of the population is unbanked as of August 2021, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blogs.worldbank.org\/latinamerica\/poor-digital-access-holding-latin-america-and-caribbean-back-heres-how-change-it\">lacking<\/a> access to a bank account or other financial services. In addition to living far from financial institutions, many individuals cite an absence of trust in institutions as a reason for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blogs.worldbank.org\/latinamerica\/poor-digital-access-holding-latin-america-and-caribbean-back-heres-how-change-it\">remaining<\/a> unbanked. Where there is little trust, there is often a lack of understanding.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Decentralized finance may be the future, but education is still lacking<\/em><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Trust\"><\/span>Trust<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Speaking from personal experience, it\u2019s not rare in Mexico to hear stories of parents recommending that their (adult) children exchange their savings for United States dollars and hide it away in a safe rather than trusting those earnings with a financial institution. By building financial literacy both around broad financial concepts and more concentrated blockchain-related concepts, we can inspire greater trust in financial institutions as a key pillar for promoting mainstream adoption.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/b981aa7a-48de-4992-9413-d83d6ae467cd.png\"><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Safety\"><\/span>Safety<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The trust that education garners is more than just trust in financial institutions. It\u2019s also trusting yourself: When people don\u2019t understand the institutions and tools with which they\u2019re interacting, those individuals are more likely to make risky financial decisions. And, they know that. Education can serve as one form of a safety net, teaching individuals which regulations are and are not in place to protect them so they can understand how financial services fit within those regulatory frameworks. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Teach_where_it_matters_most\"><\/span>Teach where it matters most<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Crypto has the potential to change the world and those who understand it best will be at a huge advantage. Knowing the power that education creates, it\u2019s important that the crypto world targets audiences strategically to perpetuate already entrenched inequalities. Remote and underserved communities, as well as those with less access to traditional education, should be at the forefront of the recipients of blockchain education. <\/p>\n<p>For remote communities, we must create mobile-friendly educational opportunities so that individuals can access learning materials from their phones without needing to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">travel<\/a> miles to the nearest city. <\/p>\n<p>For those with less education, we must consider multi<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> educational materials that circumnavigate the need for literacy without assuming high-level base knowledge. <\/p>\n<p>For women, mentorship programs and role models are key to creating welcoming and inclusive spaces that are explicitly designed to bring women into crypto. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Women&#8217;s interest in crypto grows, but education gap persists<\/em><\/strong><\/p>\n<p>For global audiences, we should create resources in local languages \u2014 Spanish and Portuguese in Latin America \u2014 to ensure we reach the widest audience possible.<\/p>\n<p>For everyone involved, we must avoid instituting financial barriers to education \u2014 trusting in the long-term gain of growing user bases through free and accessible education.<\/p>\n<p>Blockchain technology and cryptocurrencies were built to break through the power structures of traditional finance. They have the potential to drastically improve financial inclusion and freedom in Latin America. So, it\u2019s no wonder that crypto adoption is already on the rise. With mass adoption of such new technology, however, we face a new risk of leaving the most vulnerable populations behind. Education can solve this. Education can create trust in this rapidly-advancing technology and instill knowledge that enables individuals to interact safely with these new tools. Education can break the cycle of financial exclusion.<\/p>\n<p class=\"post-content__disclaimer\"><em>This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/em><\/p>\n<p class=\"post-content__disclaimer\"><em>The views, thoughts and opinions expressed here are the author\u2019s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.<\/em><\/p>\n<div>\n<div style=\"background: rgb(239, 239, 239); border: 1px solid rgb(204, 204, 204); padding: 10px;\"><strong>Abraham Cobos Ram\u00edrez<\/strong> is the crypto strategy manager at Bitso, the cryptocurrency platform operating in Latin America, with more than four million users. Abraham is a blockchain and business specialist with deep experience in the creation, development and implementation of technology solutions. Prior to Bitso, Abraham was part of the integration consulting team where he designed and implemented solutions to complex problems for projects in Mexico, the U.S., Costa Rica, Panama and Colombia.<\/div>\n<\/div>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/crypto-education-can-bring-financial-empowerment-to-latin-americans\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Crypto education can bring financial empowerment to Latin Americans &#8220; In October 2021, it was estimated that approximately 15% of the world\u2019s supply of Bitcoin (BTC) was in circulation in Latin America. According to a recent report released by Crypto Literacy, however, 99% of Brazilian and Mexican respondents failed a basic assessment on crypto&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414963,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvN2VjNGIwZjMtZTVlNS00YmQ0LTkwMzQtNmNlM2U2NTY4MmYyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74894,74863,76853,74355,10574,70551],"class_list":["post-414962","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-blockchain","tag-cryptocurrencies","tag-latin-america","tag-adoption","tag-education","tag-inflation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414962","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=414962"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414962\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414963"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}