As the UK’s tax authority claims that Cryptos are neither money nor currency, the French government views the same issue from a different standpoint. In June, the French Ministry of National Education made amendments to include Bitcoin and Cryptocurrencies in its syllabus of Economics and Social Sciences.
The sole aim of the amendment was to equip students with the most basic knowledge about Cryptocurrencies. As an introductory course, French educators are required to help the students understand the effects of the digital assets on the global economies as well as the French economy.
Moreover, students are expected to learn about the various forms of money as a part of the course objective.
Mode of Delivery
Therefore, the ministry will be mandated to provide the teachers with explainer videos. The will be three videos which will serve as the course outline for the introductory course.
These videos will thus guide in addressing the significant issues. Accordingly, the videos will assist the learning process by helping the students answer the three major questions outlined in the curriculum:
- Is Bitcoin the future currency?
- Will Bitcoin replace the Euro?
- Do you have trust in your currency?
On the same note, the knowledge and understanding of Bitcoin will help the students understand how money interlinks with trust. As a result, students should have the ability to form out the difference between fiat currency and Bitcoin based on trust.
However, it is evident that for mass adoption of Cryptocurrencies to take place, the general public must have a basic understanding of the underlying principles. That is what France is up to with the introduction of the curriculum.
Bitcoin As A Supplementary
Nevertheless, it is essential to note that the number one Cryptocurrency and others will be employed to meet the different objectives of the course. One of the major goals of the course is to help students to be conversant with the process of money creation done by the central bank.
The central bank thus functions to help the student view the process as ethical. Consequently, the students are not expected to get out of the classrooms as fully-baked Crypto experts.
The object is to impart in them an understanding of how disruptive technology works, coupled with the other aims of the course.
As France sees potential in cryptocurrency adoption, other nations of the world seem to have varied views. In Finland, for instance, the law requires all wallet providers to register with the Financial Supervisory Authority and abide by all the provisions of the department.
As mentioned earlier, the UK considers Bitcoin a foreign currency with no monetary attributes. As the EU’s parliament has no particular legislation in as far as Cryptocurrencies are concerned, the Union remains to have an impartial stance.
In Africa, the Blockchain Association of Kenya is already pushing for the Education on Blockchain among Kenyan Universities. The Kenyan case is just one of the many African scenarios in the adoption of Blockchain technology and its accompanying technologies.
Cryptocurrency Regulation in France
Apart from the Bitcoin and Crypto classes, the French government has been very keen to ensure it protects French traders. With the set up of a framework to regulate Crypto trade, France seems more serious with Crypto adoption and safety than any other European nation.
The regulatory measures put in place build more trust as France takes the lead in introducing Blockchain introductory classes among high school students.
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Image Credit: Christian Science Monitor.