Incoming NY mayor wants crypto taught in schools

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New York May­or-Elect Eric Adams appears to be dou­bling down on his pro-cryp­to stance, assert­ing that that schools should incor­po­rate cryp­tocur­ren­cy stud­ies into their curricula.

Speak­ing dur­ing a Nov. 7 inter­view with CNN’s State of the Union, Adams described cryp­tocur­ren­cy as “a new way of pay­ing for goods and ser­vices through­out the entire globe,” urg­ing local schools to equip stu­dents for “the new way of think­ing” brought about by blockchain tech­nol­o­gy and dig­i­tal assets. 

“We must open our schools to teach the tech­nol­o­gy, to teach this new way of thinking.” 

Adams also anec­do­tal­ly not­ed sur­pris­ing­ly low aware­ness of cryp­to among his young con­stituents. “When I talked about blockchain and Bit­coins, young peo­ple on the street stopped and asked me, ‘What is that?’” said the 61-year-old Democrat.

He also indi­cat­ed plans to encour­age New York busi­ness­es to accept Bit­coin (BTC) and oth­er cryp­tocur­ren­cies as a form of pay­ment, say­ing he would “tread care­ful­ly” and “get it right.” The may­or-elect added that New York must remain a “cen­tre of inno­va­tion, no mat­ter what that inno­va­tion is.”

Adams’ com­ments have been met with mixed reac­tions from the cryp­to com­mu­ni­ty on social media.

User “nimad­ows” stat­ed cryp­to stud­ies “must’ become incor­po­rat­ed into school cur­ric­u­la, assert­ing that new investors must be equipped with “an open mind and suf­fi­cient knowl­edge” before brav­ing the dig­i­tal asset markets.

Oth­ers crit­i­cised the propo­si­tion, with “InnocenceCapit1” char­ac­ter­iz­ing cryp­tocur­ren­cy as “spec­u­la­tive garbage.” Schools should be focused on “suc­cess­ful­ly teach[ing] math, his­to­ry, sci­ence, lan­guage and actu­al finan­cial con­cepts first,” they added.

Invok­ing recent crit­i­cisms of Adams from Har­vard econ­o­mist Jason Fur­man, Twit­ter user “OnlyAPri­mate” described the mayor-elect’s recent cheer­lead­ing for dig­i­tal assets as “kind of grifty” giv­en Adams’ inten­tion to receive his first three may­oral pay­checks in the form of BTC. 

“I real­ly like Eric Adams but I don’t think his job descrip­tion is pump­ing up a cryp­to-cur­ren­cy that [he] is about to be paid in. It seems kind of grifty,” they post­ed.

Relat­ed: NY May­or-elect Eric Adams will take his first three pay­checks in Bitcoin

The incom­ing mayor’s pol­i­cy plat­form includes trans­form­ing the city into the US’ cryp­to hub. Adams also said in a Wednes­day inter­view with Bloomberg Radio that he plans to explore set­ting up a city cryp­to coin in New York sim­i­lar to Miami­Coin.

New York wouldn’t be the first city in the US to imple­ment a study pro­gram includ­ing cryp­to. In March this year, The Geor­gia House of Rep­re­sen­ta­tives passed a bill call­ing for state edu­ca­tion offi­cials to imple­ment a finan­cial lit­er­a­cy pro­gram includ­ing cryp­to in high schools. 

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