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Surprisingly, despite countries like India and others looking to prevent citizens from learning about and adopting cryptocurrencies and blockchain technology, the Bank of China just published an infographic teaching citizens about Bitcoin, blockchain, and cryptocurrencies in general.
Education Is Key
According to the publication, the document showcases just what Bitcoin is, how it gains and loses value, and any information about the project that can be misconstrued as well as fact-checking any info that’s simply wrong.
Interestingly, the Bank of China calls Bitcoin the “Myth of Riches” which comes from the big Bitcoin blowup of 2017 in which the asset hit $20,000 due to the mainstream public learning about it and even attempt to adopt it.
However, despite the eventual fall down, Bitcoin and blockchain technology still garnered a ton of interest. People still talk about it, and with the reveal of Facebook’s Libra cryptocurrency, that mainstream talk is only going to increase.
“Everyone is talking about bitcoin, but only a few understand,” the infographic reads. Of course, that’s translated from Chinese, but the phrasing is similar, we’re sure.
It’s essentially remarking on the fact that some people “get” Bitcoin, while a majority of them think it’s a scam or something else bad due to misinformation and a simple lack of education. It’s a bit funny, but also quite true, considering many still view the world’s first digital asset in a negative light thanks to dark web activities on websites like Silk Road.
Overall, the infographic is broken into three parts. The first tells the story of Satoshi Nakamoto and his creation of Bitcoin. From there, it goes into the infamous Mt. Gox hack, Bitcoin mining, cryptocurrency wallets, and how to buy Bitcoin.
Part two talks about the cryptocurrency’s volatility and price, while the third part covers adoption, Bitcoin ATM’s, and similar topics.