A private university in Ecuador proposes to educate students about investing in crypto assets. The Ecuadorian State is against these practices and has refused to debate their regulation.
As part of its Chair in International Finance, the International University of Ecuador (UIDE) will teach a course on investing in cryptocurrencies. Curiously, the government of that South American country advises against such activity and has expressed on several occasions that it rejects those assets.
The Faculty of Administrative and Economic Sciences announced that activity on its official website. They address this topic to educate their students about crypto assets, how they work, and the possibilities of investing in them.
The organizers say that investing in cryptocurrencies is similar to investing in coffee, gold, or other publicly traded assets. As with other investments, this can result in profit or loss. They state that this requires knowledge about the condition and behavior of that market so that investors can take advantage of the opportunities that arise. Those advantages are what they want to offer their students.
The UIDE is a private entity associated with the University of Arizona in the United States. The higher education institution faces this issue amid the Ecuadorian government’s rejection of investments in cryptocurrencies. However, the growing range of options that users have increasingly allows selling and buying them in Ecuador.
In April, a publication in the scientific journal FIPCAEC of Ecuador explained that the national government does not establish controls on cryptocurrency transactions. The author of that study believes that it is necessary to guarantee the right to participate in the social manifestation of the technological era represented by Bitcoin. She said that the State must regulate it to prevent fraud that puts the capital of the country’s citizens at risk.
Ecuador is Debating the Issue of Blockchain and Cryptocurrencies
Although the State rejects cryptocurrencies, a growing number of actors from the public and private sectors demand a clear guideline for this area. Some people even propose to implement blockchain technology in other areas.
During his electoral campaign, the current Ecuadorian parliamentarian Fernando Villavicencio had proposed using blockchain to register the contracts agreed by the State. At that time, he claimed that the idea was to fight corruption by facilitating access to information for legislators.
However, no one has yet encouraged any similar initiative in the South American country. Behind closed doors, there are attempts to limit cryptocurrency transactions. However, some educational institutions propose learning about them to avoid being victims of scams.
The increasing relevance of Bitcoin and other cryptocurrencies in the global economy has led many governments to target them. Some countries have even made regulations to control or prohibit their use as they consider those assets a vehicle for illicit activities.
Sound knowledge of blockchain and cryptocurrencies helps people feel more secure when investing in them. Decentralized crypto assets have allowed many investors to manage their funds without relying on intermediaries.
By Alexander Salazar
