Netflix CEO's Education Fund Aligns with Bitcoin

There is a lot of education to be done in the world, especially now that the Information Age is upon us. However, there are very little efforts taking place to prepare young people and adults for this new era of digitization. Netflix CEO Reed Hastings is starting a new fund to contribute to education. Given his current stance on Bitcoin, the Hastings Fund might include future education on Bitcoin and blockchain as well.

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Netflix for Education

By putting a whopping $100 million USD into a fund to contribute to education, Reed Hastings wants to make his money work for him, as well as for others. It is important to keep in mind not all of this money will be used to fund one particular goal, as the Hastings Fund is carefully evaluating all sorts of causes that are in need of financial support.

So far, two organizations have been chosen to receive a small portion of this fund. The United Negro College Fund, as well as the Hispanic Foundation of Silicon Valley, will be receiving a contribution of US$1.5m in total. Philanthropic efforts like these are nothing short of commendable, and the Hastings Fund could do a lot of good in the education sector.

Even though the educational system is important to all of us, people need to realize a lot of things need to change in the near future. People have been teaching the same things for the past few decades, and there is little to no improvement in sight anytime soon. Students are not being prepared properly for the Information Age by any means, and the Hastings Fund could make a big difference in that regard as well.

Our society is evolving into a more digitized structure, and the educations system will have to follow the same route in due time. Students need to be able to work with digital systems before they hit the job market, like learning new things on the work floor is often frowned upon. Companies expect employees to know the basic things before applying for a job, and the digitized systems will be a part of the new “key knowledge package.”

But there are other things students need to be educated on in the not-so-distant future, though. Money is a topic often avoid during classes for some reason, yet it is the bread and butter of what keeps our economy together. Even money is transitioning to a more digitized form, as mobile payments and digital currency are becoming the new norm.

Educating People on Bitcoin

Educating both young and old on the concept of money and how it works exactly is an important part of our society. Even though very few people will acknowledge they have no idea of how money works exactly, hardly anyone will give the idea a second thought. However, that situation needs to change sooner rather than later, as our economy is evolving as well.

Digital currencies, such as Bitcoin, are becoming more and more popular all over the world. Unlike fiat currencies, Bitcoin can be used by anyone on this planet, regardless of where they live or have access to financial services to begin with. The latter is usually not the case, which is another reason Bitcoin is so compelling to them.

In fact, Netflix CFO David Wells recently mentioned how Netflix is open to Bitcoin payments in the future. Even though the digital currency is not accepted by Reed Hastings’s company just yet, it may very well be a matter of time until that situation changes. David Wells went on to referring to Bitcoin as a “global currency,” which would be quite beneficial to Netflix over the years to come as the company expands its business globally.

What are your thoughts on how the Hastings Fund and its future role in the education sector? Will education on digital currency be a part of the plan? Let us know in the comments below!

Source: Engadget

Images courtesy of Reed Hastings, Shutterstock