The University of Nicosia (UNic), a prominent English language university in the Mediterranean region, is set to make history by becoming the first university worldwide to accept Bitcoin as payment for tuition fees. Alongside this groundbreaking initiative, the university will introduce a new Master of Science program in Digital Currency.
Individuals opting to pay their tuition fees in bitcoins will have the flexibility to utilize an online merchant processing service or make direct payments to the university’s finance office. The university spokesperson clarified that the primary objective of this initiative is to alleviate payment challenges for specific students and enhance the institution’s practical knowledge in the field, explicitly stating that it is not intended for currency speculation.
In response to the increasing prevalence of online commerce, the University of Nicosia is launching the inaugural Master of Science degree in Digital Currency. This program aims to provide a comprehensive understanding of the technical foundations of digital currency to a diverse range of students, including entrepreneurs and government officials.
Dr. Andreas Polemitis, the senior vice Rector, expressed the program’s goal of exploring the developmental trajectory of digital currency and equipping students with insights applicable to their professional careers. The Master’s program, taught in English, will be accessible both on-campus and online, catering to remote students, with a planned commencement in the upcoming spring.
The move towards virtual currency, particularly Bitcoin, has garnered considerable attention from users and policymakers alike. Bitcoin’s surge to an all-time high of $900 per unit on the Mt.Gox exchange on November 18 underscored global interest, coinciding with a US Senate committee hearing endorsing Bitcoin as a “legitimate” financial service.
Source: https://www.unic.ac.cy/cyprus-university-world-first-to-accept-bitcoins-for-tuition-rt-business-news/