Although fintech markets appear to have stabilized for the time being—at least, when compared to the turbulence that rocked the industry earlier this summer and had some anticipating another Crypto Winter—many investors and regulators alike have seen that instability as a sign that cryptocurrency should be put to the side for the safety of the global economy.
According to Web3 ecosystem WeWay Co-Founder and Chief Executive Officer Fuad Fatullaev, however, the solution to preventing another crash may lie not in retreating from crypto, but in expanding it further into everyday life. To wit, Fatullaev proposes industry outreach programs designed to educate consumers about the ins and outs of crypto.
“By making crypto education accessible to non-crypto users, the general public will feel more comfortable using cryptocurrencies in one way or another, whether transacting or investing in it or starting their crypto-related businesses and start-ups,” Fatullaev wrote in an article for Entrepreneur.
Among other benefits, Fatullaev claims “education makes people more prepared in the face of panic about crypto price movements.” Additionally, heightened crypto education may help solve the problem of international currency exchange for workers remitting money to their families in traditionally underprivileged regions. Better crypto education may also help raise the next generation of financial innovators needed to drive the next great developments in fintech.