Joshua O’Sullivan
Reporter at Cointelegraph
How would you assess the current state of crypto education?
Crypto education has steadily improved. The industry has moved from being considered a scam to a financial tool regulated and accepted by businesses. We have definitely come far, and I hope to see this pattern continue as newcomers join the crypto community.
Crypto adoption is increasing partly because of the complexity of moving money across borders. People now understand that cryptocurrency provides a safe, faster, and more cost-effective alternative to conventional currency exchanges and banking systems. We have moved from educating people on what crypto is and focused on its impacts and the technology’s potential in financial inclusion and economic growth. Because people do not care much about what crypto is and what the underlying technology is. They are more concerned with what it can do for them, and that is what crypto education currently focuses on.
What role do mainstream and social media play in shaping public understanding of crypto?
Media of any form has implications for perception. I believe that part of the reason crypto knowledge has changed over the past years is the role of the media. During the recent bear market experienced by the industry, the media focused less on crypto prices and more on the utility the stakeholders built during that period.
Shifting the media discussion about crypto from the foreground to the background massively influenced public understanding of crypto and its potential and, ultimately, crypto adoption. However, no information medium is invulnerable to errors and inaccuracies. We are in an era where false news is still prolific, and the only way around that is to use credible resources that can be validated. I believe it is important to always be willing to ensure all readers receive accurate and informative reports via media because, ultimately, that impacts public perception of crypto. Equally, all media sources of information must be willing to accept criticism and adapt as the space moves.
Are there any specific challenges in communicating the complexities of blockchain and crypto to a broader audience?
Many are still unfamiliar with cryptography, cryptocurrencies, and the digital economy. One of the main challenges is communicating the complexities of crypto-related information in a manner that anyone can understand. Research suggests that human attention span decreases over time, and with crypto and blockchain’s technical nature, it can only worsen. Using layman’s terms and breaking down the complexities into digestible bits of information is, therefore, crucial if we hope to overcome this challenge.
Also, blockchain technology is presented as an innovation with the potential to accelerate the efficiency and sustainability of education programs. It can enhance the transparency and verifiability of data and information in education and the media. However, the necessary equipment for implementing blockchain technology poses a challenge to the solution, which is difficult for the general audience to understand.
