Colombia uses gamification to teach youth about crypto and stock trading

Colombia is investing over $30,000 to develop a gamified app that simulates crypto and stock trading for younger learners.

Colombia uses gamification to teach youth about crypto and stock trading

Colombia’s authorities has chosen to fund a brand new app, board sport and e book to educate youngsters and younger individuals about investing in cryptocurrencies and the stock market. As reported by , the sport was proposed by Henry Jean Velásquez in response to a authorities enchantment for modern initiatives that may assist foster monetary literacy amongst younger Colombians. 

As Velásquez has described it, the sport, dubbed “B Coin: Learn to Invest within the Stock Market,” simulates the expertise of retail trading as follows:

The authorities’s enchantment for proposals was issued as a part of the CREA Digital Call 2021 framework collectively launched by Colombia’s Ministries of Culture and of Science, Technology and Innovation. As a winner, Velásquez will obtain 119 million pesos (roughly $31,000) and will likely be anticipated to current a remodeled model of his proposed sport within the type of a downloadable graphic novel for Windows and Android in November. Beginning in December, B Coin will likely be distributed through widespread app shops.

According to Velásquez, as cited in an announcement from the Ministry of Science, Technology and Innovation: “We are enhancing the undertaking’s graphic and pedagogical facets. Through artistic consensus, we concluded that we’re going to rework it right into a graphic novel in order that it’s simpler to teach.” In addition to the brand new model, Velásquez may also produce a board sport and e book by March 2022 to additional strengthen the undertaking.

Velásquez has pointed to analysis carried out by his firm, Gameday, which revealed that just one% of Colombian colleges teach financial literacy. His inspiration for B Coin was reportedly drawn from a Colombian authorities decree from 2014, which stipulated monetary and financial schooling in Colombia as a subject that the nation’s colleges ought to cowl in order that youngsters and younger individuals can higher perceive economics and the dynamics of the monetary system.

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As reported, some researchers within the United States have lately aired their issues that American teenagers have developed a detrimental impression of trading, partly due to them having witnessed the GameStop saga. This has sparked efforts to change teenagers’ minds by selling pro-stock market academic applications, together with simulated stock market experiences and a curriculum designed to make clear the fundamental tenets of investing.

By distinction, South Korean researchers have been involved that Millennials’ rising reliance on speculative investments like shares and crypto, funded by borrowing, is trapping them in a extremely indebted state of affairs. They have noticed that many youthful individuals view day trading as a “once-in-a-lifetime alternative” to escape of their monetary precarity and to assist ​​them subsist amid an insecure job market, suppressed wages and prohibitively excessive real-estate costs.

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John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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