Source: CointelegraphWeb3-based education tools to drive crypto adoptionSiu said that Web3-based financial tools for the education sector could drive mass crypto adoption, especially among the young and unbanked.“The first unbanked are the kids,” he said.“If a student receives a loan onchain and pays it back onchain — which is regulated, better, faster, cheaper — they become onboarded for crypto for life.” Siu compared the situation to how PayPal and Venmo scaled by offering essential services to underserved users.
Siu said the project operates in the Philippines and Indonesia, and plans to expand to the US. On April 30, Pencil Finance announced a $10 million student loan financing initiative to provide cheaper, blockchain-backed loans. Siu previously said in an interview that the industry needs these “positive-sum use cases” that everyone understands.
He said students would be more pro-crypto if they had more opportunities through crypto loans. Related: NFT founder stole millions from Bitcoin project, investors allegeEducation is a natural Web3 use caseSiu also told the Consensus audience that education is a natural use case for Web3.
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Author / Journalist: Cointelegraph by Ezra Reguerra
The story "Animoca’s Yat Siu says student loans can supercharge DeFi growth" has 423 words across 19 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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