In a recently held CEO Connect AMA on Binance Square, Richard Teng, one of the Co-CEOs at Binance, revealed his vision regarding a project called Binance Junior, initiated to address a rising concern worldwide: insufficient primary financial literacy. Richard used figures cited by OECD, stating that “almost one in every five students is not equipped with key financial competence, making it challenging for today's generation to adapt to a digital economy.”
Binance Junior is meant to be a safe and guided learning environment rather than a trading platform. The main intention of the project is to teach children basic concepts of finance, including saving, value, and digital money. Teng highlighted the fact that most employees of the Binance team are actually parents themselves and have shaped the approach to safety and learning.
“As finance goes increasingly digital, awareness of things like blockchain and crypto is set to become a central concern for the younger generation." Binance Junior aims to help caregivers initiate the conversations with the young generation and develop healthy habits from the very beginning so that anything negative is not established."
Teng also pointed out the interest in the platform early on in terms of the increasing demand for financial education tools for the youth. Although the details regarding the programs for creators were not discussed, education is considered a long-term strategy for their ecosystem by Binance.
To conclude, Binance Junior is the reflection of Binance’s dedication to helping the next generation.
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