Colombia uses games to teach teenagers about cryptocurrencies and stock trading

The Colombian government decided to sponsor a new app, board game and book to educate children and teenagers about investing in cryptocurrencies and the stock market. As reported by Cointelegraph Brazil, the game was proposed by Henry Jean Velásquez in response to the government’s call for innovative projects that can help develop financial literacy among Colombian youth.

As described by Velásquez, a game called “B Coin: Learn to Invest in the Stock Market” simulates the retail trading experience as follows:

“” Users join at the same time to invest and compete with two other players […] and need to interpret stock market movements in order to buy and sell at the right time and make money. He / he can buy stocks, cryptocurrencies, commodities and trade on the foreign exchange market. Each content has a specific trend that is easy to understand. “

The government call for proposals was part of the Crea Digital Call 2021, jointly launched by the Colombian Ministry of Culture and Science, Technology and Innovation. As the winner, Velásquez will receive 119 million pesos (approximately $ 31,000) and is expected to present a converted version of his proposed game as a downloadable graphic novel for Windows and Android in November. From December, B Coin will be distributed through popular app stores.

According to Velásquez in a communication from the Ministry of Science, Technology and Innovation: “We are improving the graphic and educational aspects of the project. Through creative consensus, we came to the conclusion that we would turn this into a graphic novel to make it more teachable. In addition to the new version, Velásquez will also produce the board game and pre-order it in March 2022 to further improve the project.

Velásquez pointed out that a study by his company Gameday found that only one percent of Colombian schools teach business literacy. His inspiration for B Coins is said to have been a Colombian government decree from 2014, which prescribes economic and financial education in Colombia as a topic that the schools in the country should mention so that children and young people can learn about the economy and dynamics of the financial system.

Reportedly, some researchers in the United States have recently raised concerns that American teenagers had a negative impression of the transaction, in part because they witnessed the GameStop story. This has spurred efforts to change the minds of teenagers by promoting educational programs that advocate the stock market, including simulated stock market experiences and curricula designed to teach the fundamentals of investing.

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In contrast, Korean researchers fear that millennials’ growing reliance on speculative investments such as stocks and cryptocurrencies backed by credit is leaving them trapped. They observed that many young people see day trading as a “golden opportunity” to get out of a precarious financial situation and help them survive in an insecure job market, stifling wages and sky-high real estate. Price.