The Colombian government has chosen to fund a new app, board game, and book to educate children and youth about investing in cryptocurrencies and the stock market. As reported by Co-telegraph Brazil, the game was proposed by Henry Jean Velásquez in response to a government call for innovative projects that can help foster financial literacy among young Colombians.
As Velásquez described it, the game, dubbed “B Coin: Learning to Invest in the Stock Exchange,” simulates the retail experience as follows:
“The user enters immediately to invest and faces two other players […] and must interpret the movements of the stock market to buy and sell at the right time and make money. He can buy stocks, cryptocurrencies, commodities and trade in the forex markets. Each asset has a specific trend which is easy to interpret.
The government’s call for proposals was launched as part of the CREA 2021 digital call launched jointly by the Colombian Ministries of Culture and Science, Technology and Innovation. As the winner, Velásquez will receive 119 million pesos (roughly $ 31,000) and is expected to showcase a transformed version of his game offered 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, quoted in an announcement from the Ministry of Science, Technology and Innovation: “We are improving the graphic and pedagogical aspects of the project. Through creative consensus, we concluded that we were going to turn it into a graphic novel so that it would be easier to teach. In addition to the new version, Velásquez will also produce a board game and a book by March 2022 to further strengthen the project.
Velásquez pointed to research conducted by his company, Gameday, which found that only 1% of Colombian schools teach economic literacy. His inspiration for B Coin is said to have been drawn from a 2014 Colombian government decree, which stipulated financial and economic education in Colombia as a subject the country’s schools should cover so that children and youth can better understand the economy and financial system dynamics. .
As noted, some researchers in the United States have recently expressed concern that American teens have developed a negative impression of commerce, in part because they have witnessed the GameStop saga. This sparked efforts to change the minds of teens by promoting stock market-friendly educational programs, including mock stock market experiences and a program designed to clarify the basics of investing.
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In contrast, South Korean researchers fear that the growing reliance of Millennials on speculative investments like stocks and crypto, financed by debt, could trap them in a highly indebted situation. They observed that many young people see day trading as a “unique opportunity” to get out of their financial precariousness and help them survive in a precarious job market, suppressed wages and prohibitive real estate. prices.