Investors can now take a Master’s Degree in Cryptofinance Program in Brazil.
Investors who feel a bit overwhelmed by the brand new world of cryptocurrencies can now enroll in an actual university course to gain some expertise before playing the market. Being offered by the Sao Paulo-based university is Brazil’s – and possibly the world’s first Master’s degree in Cryptofinance.
The Master’s degree in cryptofinance course will be offered by Fundacao Getulio Vargas (FGV), a Brazilian university located in Sao Paulo. The learning institution’s new offer is considered as timely considering that virtual currencies are going mainstream and, in Brazil’s case, is now even included in tertiary finance studies.
FGV will launch the new master’s program starting next semester. The university has earned the distinction of being the first Brazilian university, and perhaps also the first in the entire world, to offer such course.
As explained by Ricardo Rochman, FGV program coordinator, the course is the university’s response to the need for more educational resources on cryptocurrency. Rochman laments that “It is a market with a profound lack of people with expertise.” Given its importance in today’s financial landscape he believes that the economic and financial fundamentals inherent in cryptofinance ”are worth discussing, researching, and [being] taught.”
The master’s program will provide students with a more objective, academic perspective with which to view these new financial tools, Finance Magnates reported. Previous research and data about cryptocurrencies available at the moment were gathered from the speculative point of view.
As economics student Michele Araujo puts it, “There is a conceptual gain of knowing both the practical applications of the technology and cryptocurrency as an alternative investment.”
A few of Brazil’s major universities have taken a proactive approach in trying to include the relatively new financial concept of cryptocurrency in their curriculums. For instance, the Faculty of Economics and Administration’s Professor Alan de Genaro of the University Sao Paulo spearheaded the incorporation of cryptocurrencies into the university’s Derivatives unit.
“People have to understand which factors are beneficial and which are not suitable [regarding cryptocurrency],” Professor Genaro explained.
Perhaps due to support from the academe, students even found the courage to found the Blockchain Insper, dubbed by the local media as part junior company and part study group. Founded over seven months ago, Blockchain Insper had already established partnerships with five companies in Brazil’s crypto industry, serving as mentors and consultants to the student group.
However, the Brazilian government is not as enthusiastic about the new financial technology compared to its universities. Even before the crypto market’s correction early this year, the nation’s central bank governor Ilan Goldfajn was reported to have referred to Bitcoin as “a typical bubble, a typical pyramid” and went even further by suggesting that people should not sell their houses just to buy these digital coins.
In addition, Brazil imposes heavy taxes on profits made from trading in cryptocurrencies. Investors will pay 15 percent in taxes for gains equivalent to $11,000 or more.