In the wake of training their younger generations, Colombia’s government chose to fund a new app, board game and book to educate the children and young people concerning investing in cryptocurrencies and the stock market.
The game was proposed by Henry Jean Velasquez to the government, who were asking for innovative projects that could help foster financial literacy in the younger generations of Colombia.
The game proposed by Velasquez is named via online casino usa: “B Coin: Learn to Invest in the Stock Market,” and it simulates the experience of retail trading like this: “The user enters at once to invest and competes against two more players […] and has to interpret the movements of the stock market to buy and sell at the right time and earn money. S/he can buy stocks, cryptocurrencies, commodities and trade in the forex markets. Each asset has a specific trend that is simple to interpret.”
The Colombia government’s appeal for proposals came about as part of the CREA Digital Call 2021 framework that was jointly launched by the country’s Ministries of Culture and of Science, Technology and Innovation. Emerging as a winner, Velasquez will be receiving 119 million pesos (roughly $31,000) and he will be expected to display an updated version of his proposed game in a way that could be downloaded for Windows and Android in November. Starting from December, B Coin will be expected to hit popular app stores.
In an announcement made by the Ministry of Science, Technology and Innovation, Velasquez said: “We are improving the project’s graphic and pedagogical aspects. Through creative consensus, we concluded that we are going to transform it into a graphic novel so that it is easier to teach.” With the aim of giving the project a chance to grow, Velasquez will also be producing a board game and book by March 2022.
Velasquez’s inspiration for B Coin was said to be drawn from the Colombian government decree back in 2014, “which stipulated financial and economic education in Colombia as a topic that the country’s schools should cover so that children and young people can better understand economics and the dynamics of the financial system,” and real money casino games could also play a role.
Some analysts in the United States recently voiced their concerns about American teenagers developing the wrong impression of trading, with the GameStop saga playing a significant role in pushing them astray. This led to efforts of changing the youngsters’ mindset by promoting pro-stock market educational programs, which will be including stock market experience.
South Korean researchers, on the other hand, are concerned that the youngsters’ reliance on investments like stocks and crypto is trapping them in an indebted situation. They were able to observe that the younger generation view day trading as a once in a lifetime opportunity that could help them break out of their financial crisis.