Issue Redefining financial literacy for tokenised and programmable money

Summary

An OECD survey in 2023 found an average financial literacy score of only 60%, with digital financial literacy averaging 53%. Awareness of cryptoassets stood at 41%, but results varied sharply, with Spain at 84% while Malaysia scored 16%, France 15% and Indonesia 3%. Globally only 3.2% of adults hold cryptoassets, and just 41% know these assets lack the legal status of paper currency and coins. Generation Z, born between 1997 and 2012, shows even lower overall financial literacy than older groups. As new instruments emerge, Dubai Future Foundation argues that literacy must expand from budgeting, avoiding scams and saving towards understanding new asset classes, digital money and programmable money.