Cryptocurrency advocates and exchanges in Asia say they are teaching the ins and outs of digital assets and blockchain in regional languages to help promote crypto investments and protect people against scams.
See related article: Crypto is based on the greater fool theory: Philippines’ incoming central bank chief
Fast facts
- Philippine crypto exchange Coins.ph, which also operates in Thailand, said it is offering crypto education classes in Filipino and Thai languages through its Coins Academy to open up opportunities in digital asset investment to non-English speakers.
- Wei Zhou, the chief executive officer (CEO) of Coins, told Forkast that English is the primary language in crypto, but a lot of the audience that his company communicates with do not know the language.
- As a result, Coins wants to “transfer that [crypto] knowledge” in local languages, whether it is Tagalog in the Philippines or in Thai in Thailand, as well as in other languages as it expands, Zhou said. This will also help protect people from scams, he added.
- Likewise, Bitskwela, a self-described Philippine-led edutech platform, is offering Bitcoin and cryptocurrency-related courses in Filipino, Cebuano and Ilocano, all regional languages in the Philippines.
- Jiro Reyes, the CEO of Bitskwela, told Forkast that for local newbie investors English can be intimidating, and so explaining the asset class in local languages is important for crypto literacy and adoption at the grassroots level.
- Reyes added that lack of proper knowledge can lead to bad financial decisions and cryptocurrency investments are no different.
See related article: Why children around the world need crypto education