FYLP Crypto Revolution

Young People & Cryptocurrencies – a Revolution of Digital Natives

Young people, digital natives, have been attracted to cryptocurrencies as a way to make easy money. Investing in crypto sounds easy but comes with associated risks. In order to support the youth to understand underlying risks, the Friedrich Naumann Foundation for Freedom, Southeast and East Asia Office, held a two-day workshop, the Crypto Revolution, with 27 students from the region. Experts from Bitkub Academy and Fam Central shared their experience and knowledge of cryptocurrencies, its market and associated risks.

The workshop was held on December 18-19 2021 from 2PM to 4PM (GMT+7). Each day, selected participants received an opportunity to listen and talk to crypto experts. On the first day, Bikhub Academy shared the history of monetary system, the evolution of digital currencies and cryptocurrencies and its different characteristics and types. Aftermath, the structure and function of blockchain was heavily discussed, highlighting its decentralization character and privacy and security issues.

On the second day, Cris Duy from Fam Central delved into details about cryptocurrencies, its importance and also Non-fungible tokens (NFTs). He overviewed the formal and informal exchange of cryptocurrencies in Southeast and East Asia. Risks are also discussed whilst sharing his knowledge of crypto values on the current global market.

The students from Indonesia, Malaysia, Myanmar, South Korea and Vietnam enthusiastically shared their local knowledge on the shortage of paper money and the use of bitcoins and other cryptocurrencies. Edward Thu and Thet Htar San from Myanmar were selected as best performing students at the workshop due to their active discussion and knowledge sharing on the topic. They were promised to be invited to FNF’s physical events in the future.

When asked about the workshop, the students shared their appreciation towards the experts and how the programme helped them to conceptualize about cryptocurrencies and to connect to their peers across the region.

“I would recommend this programme because it helped me a lot to understand concepts of cryptocurrency and I want to share this to others!” one student said.

“I think it's a great way to discuss with people of different backgrounds,” another student answered.

The Crypto Revolution is one of the series held under FNF Young Leaders Programme. Every year, the programme aims to hold a couple of workshops on economic literacy and innovative business revolutions that would educate and support the youth development in Southeast and East Asia. FNF would like to invite you to stay tuned for more episodes as there are many interesting topics being planned next year.