How to Prepare Your Industry for Cryptocurrency

Published in

Game of Life

6 min readNov 29, 2021

Cryptocurrency is fast becoming an acceptable medium for digital transactions. However, most institutions of higher learning do not teach students about this subject. University leaders and administrators feel that these digital topics change too rapidly to be effective as course material.

The reality is, though, that Bitcoin and other forms of cryptocurrency are here to stay. As such, courses on this subject can and should have a role in higher education.

Why Conventional Currency Is Becoming Outdated

Traditional cash currency is becoming obsolete for many reasons:

Because conventional currency value is mostly determined by banks, it can be volatile.
Currency values are location-based, making them hard to determine because exchange rates can be constantly changing.
Conventional currency is not secure and can be difficult to track.
Cash can be counterfeited.

While most people still use conventional currency, a growing number of people believe that cryptocurrency is better because it is not plagued by these issues. It’s already being used in online commerce and for investment purposes.

But there are some challenges to crypto. While it may be easy to use, it’s difficult to understand. And cryptocurrency doesn’t function by the rules of traditional economic systems that are commonly taught at universities. As its success and popularity grow, students at these schools can benefit from courses that help them master this nontraditional form of currency.

The Advantages of Cryptocurrency

First, we should get some clarity on cryptocurrency. As discussed, traditional currency is unstable and unreliable. But crypto is not dependent on local currency or the whims of the banking system, making it far more secure. As a decentralized currency, crypto is attractive to those who want both privacy and control over their profits.

That also makes it a popular choice in today’s global marketplace, and a valuable subject for any business major or master’s degree.

Additionally, Bitcoin and other forms of cryptocurrency are easy and affordable for everyday people to use. Some investors go from knowing nothing about Bitcoin to owning and using their own digital routers to mine crypto in a matter of weeks. This makes it an accessible way to invest for college students and young adults.

Crypto is also still considered a ground-floor investment. Since there will always be only 21 million Bitcoin available, and you can only buy tiny fractions of it at a time, it will take a long time to reach 100%. That means this market is ripe for young investors and entrepreneurs.

Finally, another appealing aspect of crypto is that you can already use it as a form of payment. Companies that accept Bitcoin as currency include PayPal, AT&T, and Starbucks — brands that appeal to university students. With popular names like these already on board, this trend is sure to grow quickly.

Of course, it’s difficult to compare the value and workings of Bitcoin to dollars. However, since Bitcoin can always be divided an infinite number of times and then distributed, concepts like inflation don’t apply.

Taken altogether, we can see there are plenty of reasons why it is becoming increasingly popular. Crypto is likely the way of our monetary future. If so, people will need to better understand it works. Let’s take a deeper look at its place in the modern business world.

The Need for Crypto Experts in the Business World

A digital future is not without its concerns. Many believe that artificial intelligence and automation are threatening skilled workers. However, robotics cannot completely replace human workers. Since more companies are turning to cryptocurrency for business, more experts will be required in this field.

And the demand is likely to grow as more businesses turn to cryptocurrency for multiple reasons:

It can help companies access a larger pool of potential clients and partners across multiple demographics.
Businesses can get an upper hand on their competition as they adapt to these emerging technologies.
Cryptocurrency can help firms access untapped capital.
The flexibility of Bitcoin and the level playing field it provides help companies stay liquid.
It also keeps them largely immune to the unpredictability of banking and inflation.

As the business world becomes more invested in crypto, we need more professionals with an in-depth understanding of how it works. It is puzzling, then, why more universities do not offer more courses on this topic.

Learning About Cryptocurrency

A secure, nonvolatile, decentralized currency is highly appealing to most people and corporations. However, the economics of crypto can be confusing. It is a completely new way to look at finances that will require a whole generation of people who understand how it functions.

Education goes a long way to demystifying this concept. Several TED Talks on cryptocurrency cover the basics:

Don Tapscott, Executive Chairman of the Blockchain Research Institute, explains this technology simply in a 20 minute TED Talk.
Chelsea Ruststrum shares the future of blockchain as a platform for a true sharing economy that distributes value and ownership rights.
Blockchain researcher Bettina Warburg discusses how blockchain can change the economy for the better by reducing uncertainty.

Future professionals need more than just a few TED Talks. While these talks can provide the essentials, entrepreneurs, managers, and other professionals must be fluent in crypto-based economics. Universities today must begin to address this need.

Cryptocurrency in Higher Learning Programs

Today, few universities offer studies that address this topic. But it doesn’t have to be this way. Courses in cryptocurrency and blockchain are an ideal addition to a curriculum in business or finance.

For example, an MBA can help a student realize his or her dream of entrepreneurship. The skills gained in financial literacy can be augmented by a cryptocurrency component, helping to leverage his or her future success.

And students are eager to learn about Bitcoin. The University of California’s Berkeley campus recently had 200 listeners dial into a Cryptoeconomics course designed for only 50 students. Leaders in academia need to create more coursework that satisfies the demands of these students.

Crypto is the digital currency of the future. Businesses are steadily moving away from traditional currency while more people are investing in and using Bitcoin. Its role in the corporate world will grow, creating a need for professionals who specialize in it. Higher learning programs must teach students what they need to know to stay competitive now or risk having their graduates be left behind in a global, crypto-based marketplace.

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