South Korean government is supporting children entrepreneurship by introducing a platform where they can virtually market their ideas. The platform uses digital tokens to raise investment or investment in the project these students may be interested in.
A platform co-developed by South Korea’s Ministry of Education called Yeep is teaching kids how to raise digital tokens through online crowdfunding to invest. The entrepreneurship program is targetted to children under the age of 16.
Support from the South Korean government
The project will run in both elementary and middle schools. It will offer pupils in this age gap a chance to know the inner workings of business environments and how investments are made. Starting at an early age, the South Korean government sees this as an opportunity to instill entrepreneurship spirit to these young students which can be cultivated to advance the economy.
The platform will make use of digital tokens, also called Yeeps which have been described by a Korean publication as equivalents of cryptocurrencies. The students will be required to come up with ideas which they will be required to market in an online global market. They will then be able to raise investments in Yeeps tokens, which they can use to advance their business ideas.
Instilling entrepreneurship through cryptos
The platform also teaches these students how to invest their own money by crediting their accounts with these digital tokens. The credited tokens will then be used by these students to invest in projects and business ideas they feel are good.
The South Korean government sees this as an opportunity to help students familiarize themselves with the business world. The ability to market their ideas on a global platform and also invest in global businesses by these students will go a long way in helping the country to continue being a leader in innovativeness.
The students’ use of cryptos as a form of payment is a clear indication of South Korea’s support of cryptocurrency fueled funding. The government has also come up with new regulations that are now making it easy to use cryptos in the country. South Korea is one of only a few countries where stable local coins are common.
Featured image by Unsplash.
