The G20, under German presidency this year, has reiterated its commitment to boosting financial literacy levels worldwide. But what is more crucial still, in my eyes, is an ability to grasp the economy and financial system as a whole. Economic education and participatory democracy are two sides of the same coin.
For example, in fintech, Israel is among the world leaders—today there are more than 500 fintech startups in Israel, and they have grown rapidly in recent years and have generated a lot of interest among foreign investors. Thus, in 2019, investments in Israeli fintech companies reached $ billion, making up approximately 5 percent of total investment in fintech worldwide.