This is exactly the same algorithm as the standard one we use : Multiply all possible combinations of digits and appropriately combine the results. This is just the graphical version of writing down numbers.
You could say the same thing about digital computers old and new. For example, for this (awesome) article http://horningtales.blogspot.com/2006/07/bit-serial-arithmet... describing an ancient bit-serial drum-memory computer, the author coins the acronym "AIGSA" to mean "as in grade school arithmetic".
But that just shows that we understand grade school multiplication. It doesn't mean that we know how best other people learn it.
But that just shows that we understand grade school multiplication. It doesn't mean that we know how best other people learn it.