Foundation series

A New Mission to Support Student Crypto Education

Despite turbulent economic times, cryptocurrencies have consistently outperformed many of the world’s most valuable companies in terms of annual returns. At one point in late 2021, the entire crypto market even exceeded Apple’s market capitalization by $2.5 trillion.

Additionally, as the conversation continues to grow about the adoption of cryptocurrencies and blockchain in mainstream society, it is no longer possible to dismiss the technology. Additionally, the currency and payments industries desperately need new ideas.

So, to shed light on cryptocurrencies, Web3, and DeFi, as well as to increase public education and awareness, Phemex launched a student-centered research effort called the Phemex Student Foundation.

In short, this is a scholarship foundation for world-class students to conduct research on these emerging industries.

Motivation and context for the launch of the Phemex Student Foundation

Cryptocurrencies have received a lot of attention (and scrutiny) over the past few years. In fact, many universities around the world have already launched their own majors and degree programs to study the subject, but generally speaking, higher education is less pushed to push the field forward.

There is also a reluctance to introduce solutions like fintech payment rails and Web3 digital assets that could threaten hard currencies and financial stability.

However, this pattern of thinking is not sustainable in the long term. Innovators and young entrepreneurs have already started to develop new ways of doing things and, as a result, have created a trillion dollar industry in less than 10 years.

That is why Phemex wants to support student researchers. 2000s students are tech-savvy, quick learners, and driven to explore ways to make a difference. Through this scholarship initiative, they will have the opportunity and the spotlight to do so.

Thus, by giving students the opportunity to break into the field and conduct their own research, Phemex creates a positive feedback loop that includes: educating the public, giving back to the community (i.e. the students) and create research that can benefit the crypto investing world.

Program Details

On March 1, Phemex welcomed its first group of research students from Northeastern University, the University of Michigan, Vanderbilt University and the University of Denver.

It is now launching the second cohort, which includes additional schools such as Rowan University, New York University, and Cumberlands University.

The program has students majoring in data science, business, computer science, international studies, finance, math, and economics. So everyone comes from different backgrounds and skill levels. It is an understatement to say that these young people are gifted.

Within a period of 8 to 12 weeks, scholarship students will participate in Phemex-guided research modules. The goal here is to produce a final thesis-like paper that will be featured on the company’s website.

Two other features of the program include a career path panel, featuring Phemex CEO Jack Tao, and a series of webinars that will feature outside experts to talk about the industry.

Final objectives

Ultimately, students who participate in the program will take a step forward in the industry and have a solid foundation to advance their future studies and careers in crypto.

The real scholarship is not achieved in weeks or days, so it is Phemex’s hope that these students will inspire others to enter the industry and learn more about crypto.

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