Researchers develop crypto literacy scale to measure consumer financial awareness

A trio of scientists from the University of Cincinnati just recently developed a crypto literacy scale (CLS) to help standardize and determine monetary and economic understanding as it relates to customer and policymaker understanding of cryptocurrencies and related technology.The groups research paper, titled “Measuring Crypto Literacy,” details the gap between conventional financial literacy and crypto literacy and the requirement for a crypto literacy scale and policies that will support cryptocurrency education and literacy efforts worldwide. According to the paper:”Measuring monetary literacy has encouraged teachers and policymakers to create programs that enhance financial decision-making and increase monetary empowerment. In order to develop the CLS, the team viewed cryptocurrency literacy different from general monetary literacy.

A trio of researchers from the University of Cincinnati recently developed a crypto literacy scale (CLS) to assist standardize and measure economic and monetary knowledge as it relates to customer and policymaker understanding of cryptocurrencies and associated technology.The teams research paper, titled “Measuring Crypto Literacy,” information the space in between conventional financial literacy and crypto literacy and the requirement for a crypto literacy scale and policies that will support cryptocurrency education and literacy efforts worldwide. According to the paper:”Measuring financial literacy has motivated policymakers and educators to develop programs that enhance financial decision-making and boost financial empowerment. In order to establish the CLS, the group viewed cryptocurrency literacy separate from overall financial literacy.