The Bitcoin craze has made its way to the educational system.
The University of Nicosia in Cyprus announced today that it will allow students to pay for tuition fees with Bitcoin, becoming the first accredited university in the world to do so. Starting this spring, Bitcoin will be accepted throughout the entire University of Nicosia system, which includes online programs and affiliated schools.UNic, formerly known as Intercollege, is the largest private university in Cyprus and has about 5,000 students.
Those who wish to use Bitcoin for tuition fees can pay at the university’s finance office or through an online merchant processing service.If you haven’t heard of Bitcoin, it’s the emerging decentralized, virtual currency gaining popularity lately in light of the FBI shutting down Silk Road, the online marketplace for illegal drugs and illicit services. Bitcoins exist only online, can be transferred right away and are not controlled by a central authority like the Federal Reserve.
(H/T to Liberty Crier for the story…)
- Silicon Alley Insider: A Cyprus University Is First In The World To Accept Bitcoin For Tuition (businessinsider.com)
- This university is the first in the world to accept Bitcoin for tuition (geekwire.com)