Bitcoin as a blockchain course could be a growing field for universities
- According to some estimates, the number of jobs related to Bitcoin or blockchain technology grew by 200% in 2017
- Blockchain education is evolving as a course in universities with the rise of technology
More universities around the world are starting to offer courses in this area as blockchain technology continues to grow in popularity. Furthermore, some colleges are now going a step further by accepting Bitcoin as payment for these courses.
The digital currency known as Bitcoin was developed in 2009 by an unidentified creator named Satoshi Nakamoto. Transactions are carried out without the use of banks as intermediaries. Hotel reservations on Expedia, furniture purchases on Overstock, and Xbox game purchases can be made with Bitcoin. However, much of the hype revolves around how to exchange it for money. In 2017, Bitcoin prices rose into the thousands.
Universities that accept bitcoin
One of the first universities to accept Bitcoin as payment for tuition was the University of Nicosia in Cyprus. In addition to having a massive open online course (MOOC) that anyone can sign up for, the university also offers a master’s degree in digital currency. Students can easily buy and sell Bitcoin because the university has installed a Bitcoin ATM on campus.
The European School of Management and Technology in Germany, the University of Cumbria in the UK and the Lucerne University of Applied Sciences and Arts in Switzerland are other institutions that accept Bitcoin. Courses on blockchain technology, cryptocurrencies and digital currencies are available at these universities on a variety of topics.
Benefits of Accepting Bitcoin in Universities
Both universities and students can benefit from accepting Bitcoin as payment for tuition in a number of ways. It enables universities to draw students from around the world who may not have access to conventional banking systems. Universities can also cut down on transaction costs and fraud risk.
Bitcoin payments can be faster and more convenient for students than more conventional payment methods. In addition, it enables them to benefit from any future increases in the value of Bitcoin, which can enable them to make long-term financial savings.
Disadvantages of accepting bitcoin at universities
However, accepting Bitcoin for tuition has some potential downsides. The value fluctuation of Bitcoin is a big problem. It can be challenging for universities to budget and make long-term plans because the price of Bitcoin can change dramatically in a short time.
The potential for fraud and money laundering is another problem. Because Bitcoin transactions are private and irreversible, it can be easier for criminals to use it for illegal activities.
Despite these concerns, it seems likely that more universities will start accepting Bitcoin in the future. Universities need to stay on top of the latest trends, technologies and education to stay relevant and competitive as blockchain and cryptocurrencies gain importance in the world of finance and technology. And for students interested in these fields, paying with Bitcoin may end up being a common practice during the academic year.
A university business school or computer engineering school may fall behind if they do not offer blockchain technology courses, or ideally entire programs. On the labor market, students may fall behind, which is more worrying. Some estimates claim that the number of jobs involving Bitcoin or blockchain technology increased by 200% in 2017 and by more than 600% since 2015. At a rate of two per day, Indeed has seen job postings that mention blockchain, and 15 of the 18 most – searched posts have specifically used the word “blockchain.” These are obviously not scientific numbers, but they show that a big shift is taking place.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
