A group of elementary pupils, including eight-year-old pc prodigy Seth Yee, in the Wooranna Park Primary School in Australia work on programming ‘WoorannaCoin’ under the guidance of former network engineer Kieran Nolan, which teaches them methods of creating software behind Bitcoin, for example, blockchain.

The family of Yee permanently sailed from Singapore into the Dandenong North suburb in Melbourne, Australia, to provide a better ecosystem for Seth, who has proven his abilities in programming and applications development over the last few months.

In accordance with Seth’s father Ray, the family first detected Seth’s extraordinary abilities when he completed the development of virtual spaceships on a NASA program in the age of six.

WoorannaCoin, a cryptocurrency developed on top of a platform enabling young developers like Seth to create prototypes and mock alternatives to Bitcoin, does not have any true value. But, Nolan, instructor in Wooranna Park Primary School, explained in an interview with The Standard that the cryptocurrency advancement program was crucial for the institution’s elementary school pupils and computer prodigy Seth in comprehending safety, cryptography, and security.

By building a transparent voting strategy, the young pupils are studying about the blockchain with a hands-on approach. More importantly, Nolan highlighted that the development of a cryptocurrency was important since it also teaching the next generation financial literacy, a frequented criticism of the education system in several countries.

“I think that it will be as important as coding in schools from the next several years. It is a way of teaching financial literacy, digital literacy… it teaches students how networks talk to one another. If students don’t have these skills now, schools are doing them a disservice. If you merely consider numeracy and literacy, that won’t get someone a job later on, they will need to possess these abilities,” said Nolan.

The Wooranna Park Primary School has already gained recognition from the tech industry and community. In his very first visit, US-based software developer and investor Andrew Kwon donated 21 bitcoin ($30,000 at the time) into the faculty, after recognizing the talent pool of young programmers and coders the school housed. According to The Standard, ” Kwon’s investment has been the first bitcoin contribution to an Australian college, and on top of that, Kwon donated computer hardware for its new high-tech centre, virtual reality goggles, 3D printers, Microsoft HoloLens, programmable robots, and drones.

In only over three years, the blockchain and Bitcoin industries have evolved into multi-billion dollar markets. Major conglomerates and large scale companies such as IBM, Microsoft, and Visa, are actively looking for blockchain and Bitcoin developers but according to different reports and surveys, the industry is fighting to find talents within the blockchain sector.

At the DTCC’s Fintech Symposium in March 2017, Linux Foundation-led Hyperledger job executive manager Brian Behlendorf said, “the technician recruitment is very thin. Thus, recruiting is hard.”

Some analysts and specialists went as far to explain the talent gap and absence of developers within the blockchain sector as the two chief factors preventing the mainstream adoption of blockchain technology.

“It is clear that lots of financial services companies are either seriously considering how to use blockchain within their organization or so are already putting this technology into training. However, as with any new technology, there are challenges to be overcome. Our poll proves that recruiting the right people is one such challenge, regulation is another, and technical factors regarding the technology itself another,” Synechron CEO Faisal Husain stated.

The development of young minds and programmers who are subjected to the blockchain from a young age, including Seth, enables cryptocurrencies and blockchain-based projects to evolve exponentially.

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