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Author Topic: This University Will Let You Pay Tuition In Bitcoin!  (Read 585 times)
LostDutchman
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November 22, 2013, 10:22:52 AM
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http://www.digitaltrends.com/cool-tech/university-will-let-pay-tuition-bitcoin/



"You can already buy pizza, hotel stays, illegal drugs, and assassinations using Bitcoin. And now, you can get a college degree.

The University of Nicosia, which is located in the Mediterranean island nation of Cyprus, announced today that it will allow students to pay tuition in Bitcoin, the first higher education institution to do so. University of Nicosia charges between $6,700 and $33,600, depending on the program, for tuition. Seeing as each Bitcoin is currently worth about $685 – a price that can, and likely will, rise and fall by the day – you’d need about 49 Bitcoins per year for full-time studies.

In addition to accepting Bitcoin to pay for tuition, the University of Nicosia (UNic for short) has also launched a new Master of Science Degree program in digital currencies. The degree is meant for business professionals, government officials, and entrepreneurs, and will help them “better understand the technical underpinnings of digital currency, how it will likely interact with existing monetary and financial systems, and what opportunities exist for innovation in digital currency systems,” according to the university. The new Master’s program will be available both online and on-campus starting in 2014.

Considering that Bitcoin is still a relatively new currency, with governments still grappling with how to handle it, UNic’s innovative tuition payment program might seem a bit premature. But according to Dr. Christos Vlachos, a member of the Council of the University of Nicosia and the university’s Chief Financial Officer, digital currencies like Bitcion are the future, and there’s no reason to wait.

“We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances and global economic development,” said Vlachos in a statement. “… In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations.”

Cyprus is perhaps more intimately linked to Bitcoin than many other countries. The country was one of the hardest hit in the global financial collapse that hit in 2008, and its residents reportedly began investing their euros in Bitcoin en masse as the country’s financial institutions floundered.

It’s unclear how many students will take advantage of the new way to pay for classes – especially considering that the value of a Bitcoin can often double or triple overnight."

You thoughts?


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November 22, 2013, 11:15:10 AM
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Of course it's great news but... let's hope for people actually using it.
I just hope it's not a publicity stunt like many others in the past.
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December 30, 2017, 10:02:58 PM
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What about online education and bitcoins (and other coins)? Just today found this project - teachmeplease (https://teachmeplease.io/index.html). Basically they combined online education and blockchain and I think there must be more educational projects like that.
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December 30, 2017, 10:20:29 PM
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What about online education and bitcoins (and other coins)? Just today found this project - teachmeplease (https://teachmeplease.io/index.html). Basically they combined online education and blockchain and I think there must be more educational projects like that.

Yes we have good ICO's for that education connects in blockchain and won't deleted or hack by anyone. look for Bitdegree they have good platform in the future an education platform for the future.

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December 30, 2017, 10:23:10 PM
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This is great news, but I think in the age where you can pay for education with cryptocurrency universities wouldn't be as popular as they are now. I think online education will take over.

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December 30, 2017, 10:38:05 PM
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it is great news but i hope it will implement into some other country, and i hope that bitcoin will use as universal money so that we dont need to change our money to another paper money when we are going out of town just the bitcoin itself it is easy to use and it is user friendly unlike paper money need to change it and you will pay bigger amount before you can change it

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December 30, 2017, 10:38:19 PM
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In my country there is also a university that allows you to pay tuition fees in bitcoin. But then the government prevented the university from using bitcoin to pay for the tuition. It was the first university in my country to really study the practical use of blockchain and the bitcoin that is of great interest to the students in order to provide students with the most comprehensive overview of bitcoin.

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December 30, 2017, 10:53:31 PM
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http://www.digitaltrends.com/cool-tech/university-will-let-pay-tuition-bitcoin/



"You can already buy pizza, hotel stays, illegal drugs, and assassinations using Bitcoin. And now, you can get a college degree.

The University of Nicosia, which is located in the Mediterranean island nation of Cyprus, announced today that it will allow students to pay tuition in Bitcoin, the first higher education institution to do so. University of Nicosia charges between $6,700 and $33,600, depending on the program, for tuition. Seeing as each Bitcoin is currently worth about $685 – a price that can, and likely will, rise and fall by the day – you’d need about 49 Bitcoins per year for full-time studies.

In addition to accepting Bitcoin to pay for tuition, the University of Nicosia (UNic for short) has also launched a new Master of Science Degree program in digital currencies. The degree is meant for business professionals, government officials, and entrepreneurs, and will help them “better understand the technical underpinnings of digital currency, how it will likely interact with existing monetary and financial systems, and what opportunities exist for innovation in digital currency systems,” according to the university. The new Master’s program will be available both online and on-campus starting in 2014.

Considering that Bitcoin is still a relatively new currency, with governments still grappling with how to handle it, UNic’s innovative tuition payment program might seem a bit premature. But according to Dr. Christos Vlachos, a member of the Council of the University of Nicosia and the university’s Chief Financial Officer, digital currencies like Bitcion are the future, and there’s no reason to wait.

“We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances and global economic development,” said Vlachos in a statement. “… In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations.”

Cyprus is perhaps more intimately linked to Bitcoin than many other countries. The country was one of the hardest hit in the global financial collapse that hit in 2008, and its residents reportedly began investing their euros in Bitcoin en masse as the country’s financial institutions floundered.

It’s unclear how many students will take advantage of the new way to pay for classes – especially considering that the value of a Bitcoin can often double or triple overnight."

You thoughts?



With such high transaction fees and transfer time I think this university made a bad decision. They could have chosen a better crypto currency with lower fees and much, but much faster transaction fees. Bitcoin just gets old.

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