BITCOIN

El Salvador launches Bitcoin education program "My First BTC" to set an example for changing the world.

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El Salvador launches Bitcoin education program "My First BTC" to set an example for changing the world.

According to a report by Cointelegraph, in order to promote Bitcoin education, the Ministry of Education in El Salvador has supported the launch of a Bitcoin education program called "Mi Primer Bitcoin" (My First Bitcoin), initiated and founded by American journalist John Dennehy. The first group of students enrolled in the program began their studies in May.

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Looking back a year ago, when El Salvador adopted Bitcoin as legal tender on June 8 last year, most Salvadorans were not very familiar with Bitcoin. However, there was already a "Bitcoin Beach" in the country, located in the surfing town of El Zonte, which was the birthplace of El Salvador's adoption of Bitcoin.

According to El Salvador's Education Director Gilberto Motto, under Article 6 of the Bitcoin Law, "the state will provide training on the use of this cryptocurrency," so they are also considering, "What will the training look like? How can the country quickly and effectively introduce Bitcoin courses?"

Why was this training initiative initiated by American John Dennehy? Having lived and worked in Latin America, John Dennehy was familiar with the culture of the region. When he learned that El Salvador was moving forward with the Bitcoin Law, he felt compelled to come to El Salvador as soon as possible: "I knew I wanted to do something to help ensure the success of this."

John Dennehy first encountered Bitcoin in 2013 while living in Ecuador and became a Bitcoin supporter. He also experienced a hack on an exchange, losing about 2 BTC. Over the years, John Dennehy has always believed that Bitcoin should be separate from the state. After El Salvador adopted Bitcoin as legal tender, he decided to fly to El Salvador. However, he was shocked to find that there were very few businesses and suppliers in the country accepting Bitcoin payments.

"When the law went into effect, businesses were essentially at zero," John Dennehy said.

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Gilberto Motto stated that after the Bitcoin Law came into effect, Bitcoin has been included in the national financial education and financial literacy programs. Various ministries have started collaborating with various Bitcoin-related institutions, including Bitcoin wallets, and the "Mi Primer Bitcoin" project. The Bitcoin education program is developing a financial education training module that includes content on cryptocurrencies and e-wallets.

"Mi Primer Bitcoin" is a non-governmental organization that provides free Bitcoin education. In addition to support from the Ministry of Education, it has also received funding from the crypto company LookGlass and Bitcoin and Lightning Network service provider IBEX Mercado.

The reason John Dennehy wanted to establish the "Mi Primer Bitcoin" project was that during his visits to Salvadoran shops, he would chat with people, asking questions like, "Do you accept Bitcoin?" He found that many people did not accept Bitcoin because they did not understand it and even asked John Dennehy to explain what Bitcoin is.

"They are interested in learning more, but their knowledge of Bitcoin is generally low," prompting John Dennehy to launch an educational program.

The first class was held on September 24, 2021, with no funds or space. In fact, "in our first class, only one student showed up." By October, the class size had rapidly increased to nearly 80 people, and by November, the number of students exceeded 250. However, this was also related to the historical surge in Bitcoin prices at the time. In April of this year, the class size of over 800 students attending set a new record high, while the price of Bitcoin hit its lowest point of the year.

John Dennehy stated that the content of these courses is designed around financial knowledge, covering the history of money, problems money solves, and Bitcoin education.

Gilberto Motto said that Bitcoin and financial literacy must go hand in hand in El Salvador, educating on concepts such as savings, taxes, budget planning, and individual or family budgets. However, many people still do not know how to make use of these courses.

Within this Bitcoin education program, there is a Bitcoin diploma course designed for teenagers. Many teenagers are eager to learn about money because they know it relates to their independence. John Dennehy believes that if this education can reach every teenager in the country, "we will effectively educate the entire country within a year because this demographic is strategically important. They will talk to their parents, aunts, uncles, and siblings when they go home."

Having been in El Salvador for a year, 10% of the population are now active Bitcoin users. From almost no businesses understanding Bitcoin, over one-fifth of businesses in El Salvador now accept Bitcoin payments.

John Dennehy emphasized that Bitcoin is a global currency, and the progress made by El Salvador can be reflected worldwide.

"We are currently focused on El Salvador because our resources are limited, and El Salvador is the signal. This is the front line. But our ambition is global. Our goal is to change El Salvador and change the world."

This article is authorized and translated from Horizon News Network