Yes, Virginia, You CAN Major in Crypto
Plus, don't miss my discount on Bitcoin 2022 Miami, and a few Sunday headlines
It might seem strange—but it’s possible get a degree in cryptoeconomics now, and these days, its one of the fastest growing fields of study for college students. I’m not just talking about thinktank at MIT or special endowments at Stanford. Many universities have put some heavy emphasis on this field, and on preparing students for a future in it.
Satoshi Nakamoto would be proud.
I recently caught up with Michael Jones, director of the MS in Applied Economics at the University of Cincinnati to learn more about this emerging degree focus. Read on for our enlightening conversation:
Q: Will you please give an overview of UC's Cryptoeconomics Lab?
Jones: The cryptoeconomics lab provides a physical space where researchers, students, and companies study the impact of blockchain technology and digital assets on the future economy. The lab contains hardware that validates blockchain transactions, transfers data for smart contract execution, and securely stores digital assets.
Q: You're something of a crypto enthusiast. What made you so interested in blockchain technology and cryptocurrency?
Jones: Crypto is truly a cross-disciplinary technology. Cryptography requires mathematics. Network applications and programming languages require computer science knowledge. And of course, the incentives to promote transaction validation and to secure the network are built on economic principles. I have degrees in math, computer science, and economics – and so blockchain is the perfect intersection for what I’m interested in!
Q. How do you think this sector will affect or impact future university majors?
Jones: Becoming an expert in this field will require students to think outside of a “traditional” major. There are very few, if any, degree programs in blockchain technology in the United States. At the University of Cincinnati, we are currently exploring what a certificate in blockchain technology would require of students. At a minimum, students would need to take courses from three different colleges: Business, Law, and Engineering. Students who can master this field will command a significant salary premium in the market.
Q. The lab just submitted a grant app to be an Algorand University Center of Excellence. Why?
Jones: Algorand is pushing the frontier of what’s possible with blockchain technology. By achieving consensus with a pure proof of stake protocol, energy requirements are reduced. Algorand also offers smart contracts, NFTs, decentralized finance applications, and other building blocks necessary for the web3 economy.
Q. How does cryptocurrency change the game for applied economics?
Jones: There are currently over 90 central banks that are exploring or already piloting central bank digital currencies. As we’ve seen with the government of Ukraine’s plea for cryptocurrency donations through Twitter, economic assistance to other governments is no longer the exclusive domain of central governments. In addition, fiat currency isn’t the only platform for value exchange. As cryptocurrency gains broader acceptance, economists will be needed to study its effect on the future economy.
Plus…
Don’t forget, you can save on Bitcoin 2022 Miami tickets with my code!
Finally…
A new study says women are getting involved in crypto at a growing rate
Crypto exchanges are resisting calls for Russians to be kicked off platforms or barred from trading
The Crypto Connection is for entertainment purposes only and is not meant to be financial advice. Please do your own research before investing in any asset class. Sara Celi is not a financial advisor, and holds several cryptocurrencies. To purchase her books on Amazon, please click here.