Cyprus university to accept bitcoin tuition

The University of Nicosia in the Greek-controlled Southern Cyprus is set to become to first university to accept tuition fees in bitcoin payments.

Cyprus university to accept bitcoin tuition

World Bulletin / News Desk

The University of Nicosia in Cyprus looks set to become the world’s first university toaccept bitcoins for tuition. The university will also begin a new Master of Science course in Digital Currency.

In a statement the university said: “The intention of this initiative is to ease transmission difficulties for certain students and to build our own practical knowledge about this field, not to engage in currency speculation.”

Dr. Andreas Polemitis, the senior vice Rector, said “While digital currency is a relatively new concept, currency is one of the oldest human inventions. What we aim to explore in this program is the likely development pathway of digital currency and give our students insights that they can bring to bear in their professional careers”.

The virtual currency should be accepted by the spring semester of next year.

The university has also suggested that Cyprus could become a center for bitcoin trading in the near future.

Russia Today quoted Dr. Christos Vlachos, the Nicosia University Chief Financial Officer, as saying, “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. Digital currency will create more efficient services and will serve as a mechanism for spreading financial services to under-banked regions of the world. 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”.

Last Mod: 21 Kasım 2013, 18:01
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