The global crypto boom is emerging as a widespread phenomenon. It is not just an investment trend but also an up-and-coming mode of payment. Digital currency may find widespread acceptance everywhere, including international universities. Whether it will be mainstream is yet to be seen, but the start by the Wharton School at the University of Pennsylvania is the first step in this direction. The school has recently announced that it plans to take cryptocurrency as tuition fees for an online blockchain and digital assets programme.
This executive education programme by the Ivy League university costs 3,800 US dollars, and students can pay with cryptocoins such as Bitcoin as one of the payment methods. Wharton will accept these payments using Coinbase Global Inc., the largest cryptocurrency exchange in the US. The programme is relevant for the initiative as it covers subjects like blockchain and digital assets. It is likely to attract thousands of students every year, considering the trending academic area.
WHAT NEXT?
While the initiative by Wharton is a good start, the big question is whether digital payments will become a norm for university tuition fees in the future. Nothing can be predicted at this point, but things seem favorable for cryptocurrency. An increasing number of universities are keen to explore the idea, both as an academic offering and a mode of payment.
The Lucian Blaga University of Sibiu (ULBS) in Romania announced in March this year that it will become the country’s first higher education institution to accept university tuition fees in cryptocurrency. The concept is not really new as the King’s College in New York was the first American university that accepted cryptocurrency as payment of its tuition fees way back in 2014.
Other names that are all set to join the Bitcoin bandwagon include the University of Cumbria in the UK and the University of Nicosia in Cyprus. While the future is yet to unfold, the picture looks bright for crypto enthusiasts, universities, and students alike.
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