Over the last few months, South African regulators have become more accepting of cryptocurrencies. The country’s financial sector regulator, the Financial Sector Conduct Authority (FSCA), recently declared crypto assets as financial products, allowing them to be regulated. The country’s central bank also issued a directive to commercial banks, encouraging them to work with crypto assets service providers.
With such an enabling regulatory environment, crypto use cases are becoming more common in the country. Last month, one of the country’s largest retailers, Pick n Pay announced that it would start allowing bitcoin payments at till points.
Non-profit charity organization, FoodForwardSA, also announced a partnership with crypto exchange platform, Luno, which will allow South Africans to make bitcoin donations to the organization. Luno also announced a sponsorship deal with Pretoria-based rugby franchise, Vodacom Bulls, which will see the team’s players getting paid in crypto.
To keep up with the crypto adoption in the country, Centennial Schools, a school based in Sandton, Johannesburg, has introduced a 10-module course which educates students on the practical applications of blockchains and cryptocurrencies while improving financial and digital literacy.
“By exposing our students to this course, we are futureproofing them by giving them the skillset they require for life outside of school,” said Shaun Fuchs, founder and CEO of Centennial Schools.
The school partnered with CoinEd, an education provider that integrates cryptocurrency and blockchain courses at educational institutions, to deliver the course content.
Kreean Singh, co-founder of coinEd, stated that by teaching students to safely engage with crypto technology, they will benefit from it in their financial lives, in their digital safety, and in their future jobs.
“The idea that we will be living part of our lives in virtual reality –or The Metaverse– is creating an economy of its own. The financial system of the Metaverse is currently based on cryptocurrencies and blockchains, and through education, we aim to inspire innovative thinking and entrepreneurship in both the physical and digital world,” concluded Singh.
With four million South Africans and counting owning cryptocurrencies, according to a report by Finder’s Cryptocurrency Adoption Index, Centennial Schools’ crypto course could prove to be a good future bet for parents who would like to see their children equipped with skills of the future.