Is the South Korean Government Teaching Children How to Use Crypto?
A revamped learning resource platform aimed at boosting entrepreneurship in elementary and middle school pupils teaches children how to raise digital tokens in online crowdfunding incentives.
Per Yonhap, the platform, which went live on March 16, aims to nurture “young entrepreneurs,” and will be used in schools across the country to teach children aged 16 and below.
The platform is named Yeep, and was co-developed by the Ministry of Education. It makes use of a digital token also named yeep (“leaf” in Korean), described by Yonhap as a “cryptocurrency.” Students are charged with developing business ideas that involve creating and marketing new innovations or services, which they can then list on a nationwide marketplace.
They are also credited with yeep tokens and invited to “invest” in “crowdfunded” projects via the marketplace. There also appears to be elements of decentralization included: As more investors get involved in projects, participants can suggest or request improvements and changes.
Although yeep tokens have no tradeable market value, the government appears nonetheless keen to teach children in the country about how startups raise money.
And it is perhaps telling in a country where local stablecoins are commonplace, major industries are so heavily invested in blockchain technology-related business and where a new package of cryptocurrency regulations has recently been introduced – that “cryptocurrency”-fueled “crowdfunding” is something the government wants children to learn about.
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