As Bitcoin is gaining more and more attention from all corners of the world, it remains important to create a “united” front in terms of education and regulation. In particular, the education part could use some more work, as there are a lot of people still struggling with the concept of Bitcoin, aside from the monetary aspect. MIT is looking to change that by launching their Digital Currency Initiative.
Bitcoin Education Remains Key
One of the misconceptions in the world is that Bitcoin is just a monetary unit and nothing else. In fact, over the past few years, Bitcoin has often been referred to as “it’s just an investment vehicle”. But if there is one thing we have all come to learn in the past 18-24 months, it’s that Bitcoin is a technology and an ideology first and foremost.
Which is why it is so important to properly educate Bitcoin and cryptocurrencies in general, as they need to be able to understand the idea behind the principle. If you can’t explain why these digital currencies are vastly different from anything we have seen in the past, why would anyone bother to get involved in it in the first place?
This situation becomes even more dire now that we have regulators and legislators all around the world looking into creating “suitable laws” for digital currency. Luckily for us, these people are being educated by representatives from the Bitcoin community who have the necessary experience in the field. But the average person on the street deserves to know the exact same things.
MIT Media Lab’s Digital Currency Initiative
It was only a matter of time until we saw learning institutions hop on board the digital currency train. In fact, you can now even earn a Masters Degree in Digital Currency through the University of Nicosia and enjoy an introductory course – with official accreditation – on what Bitcoin is and how it can [and hopefully will] transform the world as we know it.
But MIT Media Lab takes things one step further because they have launched an initiative focusing on education about Bitcoin and cryptocurrency in general. In order to do this, various people are participating in organizing this initiative, including students from across the Institute. After all, our youth is our future, so it is important to get them educated on Bitcoin and cryptocurrency right now.
However, in order to make this a serious effort, MIT Media Lab has hired some “big guns” such as Brian Forde – former White House senior advisor for mobile and data innovation – and Nickolai Zeldovich – a distinguished professor in security and distributed systems. They will be assisted by the likes of Jeremy Rubin, an undergraduate who aided in setting up the MIT Bitcoin project.
To make this initiative attractive and appealing to outsiders, the main focus will be on the efforts made by the Bitcoin community. For all of its technological advancements, Bitcoin – and other cryptocurrencies – would be nowhere without the ever-growing community there to support it.
But that is not all, as Bitcoin-related startups and companies deserve their share of the spotlight as well. Furthermore, forward thinking policy makers will be represented thoroughly to give you an idea about all aspects surrounding Bitcoin and cryptocurrency. Do keep in mind that this initiative is all about rallying interest in Bitcoin at MIT, and not a long-term solution for Bitcoin core development or regulation.
Source: Joi Ito
All images courtesy of Pixabay