Coinbase Student Crypto Survey Reveals Nearly 1 in 5 Own a Blockchain Asset
Nationwide Crypto Survey Reveals 18% of US Students Own Cryptocurrency
Coinbase recently completed a survey of 675 students across America. The results were published today on Coinbase Reports and indicate that students are more likely to own cryptocurrency than most other demographics.
18% of students in the United States, or nearly 1 in 5 students, report owning cryptocurrency.
Coinbase’s report also found that 42% of the world’s top 50 universities now offer at least one course on blockchain technology or cryptocurrency. Some of the world’s top universities, in fact, offer 5 or more courses in blockchain and crypto.
Coinbase partnered with Qriously to complete the study. You can view the full results on Coinbase’s blog here. The study involved 675 students in the United States as well as a comprehensive review of courses at 50 international universities. Coinbase also interviewed professors and students.
The study also showed that students from a range of majors are interested in blockchain and crypto courses.
Interest in blockchain and crypto is surging at universities & it spans disciplines (beyond computer science). @Coinbase reviewed catalogs at @usnews top 50 universities; 42% offer one or more course on crypto or blockchain https://t.co/qNkXxDXKho #coinbasereports #cryptooncampus
— Coinbase (@coinbase) August 28, 2018
One Professor’s Blockchain Course Grew from 35 Students in 2014 to 230+ in 2018
One professor interviewed by Coinbase was David Yermack, the Chair of the Finance Department at New York University’s Stern School of Business. Yermack first launched his course on blockchain and financial services in 2014. 35 students signed up for the course in that first year, 8 fewer than the average elective at the school.
By spring 2018, Yermack’s course had skyrocketed in popularity. In spring 2018, over 230 students were enrolled in the course. The school moved the course to its largest auditorium. In the 2018/2019 school year, Yermack plans to offer the course both semesters to address the demand from students.
Yermack launched the course after seeing how quickly blockchain and crypto were growing. Over the years, Yermack’s course has grown for other reasons, “notably demand from companies for people who understood cryptocurrency-related issues.” Today, Yermack sees his class as a way to give students the skills they need for jobs of the future.
Some of today’s top schools don’t offer just one or two courses on blockchain. Stanford University, for example, offers 10 courses on blockchain and cryptocurrency. That may not be a surprise because it’s Stanford, located just down the road from Silicon Valley in the Bay Area of San Francisco.
You may be surprised to learn, however, that Cornell University offers 9 courses, the University of Pennsylvania offers 6 courses, and Harvard University offers 2 courses on blockchain and cryptocurrency.
Coinbase also found that a number of schools are forming research centers dedicated to blockchain and cryptocurrency. As student interest in the subject grows, and universities churn out blockchain experts, these students are turning towards blockchain and crypto-related research topics.
Surprisingly, blockchain courses aren’t just found in finance, economics, or computer science departments. Instead, blockchain courses are being offered by surprising departments – like anthropology. Princeton offers a course called “Anthropology of Money”, for example.
Meanwhile, it’s not just comp sci and finance majors taking blockchain courses. Coinbase’s survey revealed that half of all social science majors expressed interest in taking a crypto class, for example.
Of course, blockchain exists at the intersection of finance and technology. It’s not strictly finance and it’s not strictly technology. It’s somewhere in between with elements of mathematics, anthropology, economics, politics, and other topics mixed in.
Blockchain and crypto courses are particularly prominent at American universities. Only five of the 18 international schools analyzed by Coinbase, or 27%, offered a crypto or blockchain course. Only two universities – Swiss Federal Institute of Technology Zurich and National University of Singapore – offered more than one course.
Law Students Trained in Blockchain Don’t Need to Apply: They Just Get Recruited
Another interesting bit of information from the Coinbase survey came from Campbell Harvey, Professor of International Business at Duke University. In an interview with Coinbase for the survey, Harvey said:
“Law students that are trained in blockchain, they don’t need to apply anywhere. People are just asking them to join their firms.”
Blockchain can connect directly to law through the use of smart contracts. While some believe smart contracts will destroy the legal profession, it seems more likely that existing law firms will integrate smart contracts into their existing services.
Law students who are graduating from school into a tough market may want to consider adding a blockchain course to their schedule:
“If you’re graduating from law school it’s a tough market these days,” Harvey added. With a blockchain course, law students can give themselves an edge over the competition.
1 in 10 Students Have Taken a Cryptocurrency Course, But 1 in 4 Want to
We know that universities are offering cryptocurrency courses. But is anyone actually taking those courses?
Coinbase’s study shows that 9% of surveyed students have taken a cryptocurrency course. 26% of those students came from computer science. Medicine, surprisingly, was the next leading group of students, accounting for 16% of those who have taken cryptocurrency courses. Economics, math, humanities, social science, business, and law rounded out the list.
Meanwhile, nearly three times that number of students plan to take a cryptocurrency course at some point. Coinbase’s study showed that 26% of students want to take a cryptocurrency course.
18% of students reported owning cryptocurrency. Medicine students were more likely to own cryptocurrency than any other group of students, with 19% of medical students reportedly owning cryptocurrency. Computer science students, meanwhile, were the next most likely group, reporting 18% crypto ownership.
Ultimately, Coinbase’s report indicates that crypto and blockchain technology are surprisingly popular among students. It’s not surprising that blockchain and crypto are more popular among students, but it is surprising that nearly 1 in 5 students in America owns cryptocurrency – and that medical students are more likely to own crypto than comp sci students.