Caracas, Oct 23 (EFE).- Training in cryptocurrencies is considered necessary by experts in Venezuela as it is one of the fastest growing virtual currency markets in Latin America, which has prompted the creation of an academy in a private university of Caracas, presented this Wednesday, and which will offer educational programs, both basic and specialized, on this digital ecosystem starting in November.
The director of the Blockchain, Trading & Crypto (BTC) Academy of the Andrés Bello Catholic University (UCAB), Aníbal Garrido, told EFE that The average Venezuelan does not know these technologies or their “unquantifiable” benefitsespecially for countries with economies “as complex” as Venezuela.
Garrido, an engineer by profession, considers that Venezuelan society in general lacks even basic knowledge related to personal finances, such as family budget, savings, credit and investment, so if technology is added – he warns – there may be “some complexity.” ».
Despite this, since the country occupies the top positions in rankings for the adoption of digital currencies, the expert indicated, there was no specialized training space on cryptocurrencies.
The BTC
The academy, attached to the International Center for Professional Updates (CIAP), was born with a view to “promoting the best education” on economics, finance and digital platforms, and to encourage the adoption of cryptocurrencies as a “way of life” and an alternative to “try to circumvent the economic complexities of a country like Venezuela.”
According to Garrido, there was “no academy of this nature, not only in Venezuela but in all of Latin America,” with classrooms, “high-tech” equipment, and professionals of the “highest level,” both national and foreign, who “will provide quite a guide.” sure and determined.
Short and basic training will be given to diploma courses lasting three to five months, and some of these programs will also be offered virtually so that people outside the country can participate.
The expert explained that “there is no requirement to participate,” other than “the spirit and desire to want to learn, to want to know about this disruptive world of new technologies,” although he clarified that certain training, such as diplomas, requires some technical knowledge.
The shield of knowledge
Garrido indicated that having basic notions about cryptocurrencies creates “a shield” against “bad practices and malicious agents” that lead to making “bad decisions” and even “incurring large losses”, counterproductive in a country where digital currencies They are used, basically, as a mechanism to protect purchasing power.
Likewise, he noted, they are used in the country to receive a “large amount of remittances”, due to “the ease, speed and low cost in terms of commissions.”
Venezuela ranks 14th in the Chainalysis Global Adoption Index, one of four Latin American countries in the top 20, in addition to Brazil (9), Mexico (13) and Argentina (15).
According to Chainalysis, an American company specialized in the area, the cryptocurrency market in Venezuela more than doubled in one year, which “far exceeds” the growth of “any other country” in the region, despite its “events.” politicians.
According to figures provided to EFE, the market reached $11.7 billion in the second quarter of this year, an increase of 134% compared to the $5 billion in the same period in 2023.
Chainalysis explains that Venezuelans are attracted to cryptocurrencies to “combat the fall in the value of the bolivar”, the local currency, which has lost 5.7% of its value against the dollar so far in October, after months of stability.
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