Beyond Donations: The Case for Crypto in Education
The recent $25 million donation from Ripple to a crypto education fund has sparked conversations about how blockchain projects can build influence through academia. However, Yat Siu, co-founder of Animoca Brands, believes that financial contributions alone are not enough. He argues that real-world use cases, like student loans powered by decentralized finance (DeFi), could be the key to unlocking crypto’s mass adoption.
DeFi Student Loans: A Tangible Value Proposition
Animoca Brands, through its educational arm Open Campus, is backing Pencil Finance, a project that aims to provide cheaper, blockchain-backed student loans. Siu emphasizes that this type of infrastructure investment goes beyond symbolic funding. He believes that projects like Pencil Finance offer a tangible value proposition that resonates with a broad audience. “If students can receive better, cheaper, and more effective opportunities and interest rates through crypto student loans, they’re going to be more pro-crypto,” he stated in an interview with Cointelegraph.
Bridging the Perception Gap
Siu acknowledges that the crypto industry faces a perception problem, particularly among those unfamiliar with financial tools or blockchain-native culture. He advocates for educational use cases that move beyond niche concepts like NFTs or meme coins and offer relatable solutions to real-world problems. “When you’re sitting at the table and someone’s saying, ‘What is crypto really good for?’ – do we say memecoins? Or do we say student loans? That’s something everyone understands,” he said.
Investing in the Future Generation
Siu emphasizes the long-term impact of onboarding students early, both for fostering crypto literacy and building a foundation for widespread adoption. “You want to onboard them at the earliest levels and let them understand what’s going on,” he explained. This approach echoes Apple’s strategy of offering educational discounts, which prioritized future influence over immediate profit.
From Visibility to Indispensability
While Ripple’s donation is a positive step for awareness and funding support in education, Animoca’s approach aims to make crypto an integral part of education systems worldwide. Siu believes that crypto’s true potential lies in demonstrating its practical benefits, not just its presence. “We have to show what [crypto] is good for. We’ve got to start from the grassroots,” he concluded.
A New Narrative for Crypto Adoption
Animoca’s focus on DeFi-backed student loans highlights a shift in the crypto narrative. It moves away from speculative investments and meme-driven trends and focuses on creating real-world value. By addressing tangible needs within education, the project aims to build a more sustainable and user-centric adoption pathway for crypto.
