Eric Adams – the mayor-elect of New York City – wants cryptocurrency to be taught in schools. He says that digital currencies are the financial tools of the future, and he wants children and younger generations to be financially prepared for what’s likely to come their way.
Eric Adams: Crypto Should Be Taught in Schools
At this stage, anyone who doubted cryptocurrency is likely kicking themselves in the rear. Bitcoin, for example, is the world’s largest digital currency by market cap, and at the time of writing, is once again trading at $66,000. Ethereum is also hitting fresh highs, and the crypto market is now valued at more than $3 trillion. While fiat currency is still dominant in how businesses conduct transactions, there are more and more enterprises looking to make room for this growing monetary space.
Eric Adams seems to believe that as time goes by, cryptocurrency is going to get bigger and stronger – so strong, in fact, that kids need to learn about it now, so they’re prepared for adulthood. In a recent interview, Adams explained:
Cryptocurrency is a new way for paying for goods and services. We must open our schools to teach the technology, to teach this new way of thinking when it comes down to paying for goods and services.
One of the big things lagging in the cryptocurrency space as of late is education. While the industry is getting bigger, it seems not everyone knows enough about it. There are trading platforms out there, but not everyone is familiar with the technology behind the growing world of digital assets.
But while Adams may have the right idea, not everyone seems to believe that teaching kids about crypto via traditional routes is the best tactic. One such critic is Jason Furman, a Harvard professor and former member of the Council of Economic Advisors under Obama. Regarding Adams’ plan, he stated that it was not the best direction for New York City. He further claimed:
It also seems like a conflict of interest. Like a mayor announcing, ‘I’m buying a lot of Amazon stock and then going to put in policies to benefit Amazon.’
Clearly, Adams is a big crypto fan. He recently entered a war of words with Mayor Francis Suarez of Miami, Florida, claiming that the city had had its chance to become the crypto haven of the world and that New York was on the verge of taking over now that he was in office. He also stated that he was looking to accept his first three paychecks as mayor of NYC in bitcoin.
Businesses Accepting Crypto for Payments
He is also examining a plan that would allow New York City-based businesses to accept crypto as payment for goods and services. He commented:
We are going to look at it, and we are going to tread carefully. We are going to get it right.