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More facilities accepting Bitcoin will lead to a healthier cryptocurrency ecosystem. Although few things can be paid with Bitcoin right now, things are slowly improving as we speak. Lucerne University of Applied Sciences and Arts in Switzerland is now accepting Bitcoin payments. This is a pretty unusual decision, although it also makes a lot of sense.
This new Bitcoin-related venture is an interesting one, to say the least. Lucene University has partnered with Bitcoin Suisse AG to accept Bitcoin payments. While this is big news for cryptocurrency, it remains to be seen how things will play out. The Swiss brokerage firm will handle all payments and convert them to Swiss Francs accordingly. It is unfortunate the University will not keep funds in BTC, but they may still do so later on.
Lucerne University and Bitcoin Suisse AG Team up
What is rather remarkable is how payments will only be converted once a week. Considering how the Bitcoin price can be volatile at times, this delay is rather unusual. Then again, there is a lot of room for Bitcoin price improvement during any given week. This may be a lucrative idea of Lucerne University, although nothing has been set in stone just yet. Bitcoin Suisse AG will seemingly protect the institution form any price volatility for the foreseeable future.
Whether or not students will pay in Bitcoin, remains to be seen. The Lucerne University is world-renowned, to say the least. Bitcoin has successfully gained some traction in the country as well. However, it is still far too early to talk about major adoption of cryptocurrencies. A year from now, we will know whether or not this venture was successful in the end. It is not the first time we see an education institute accept Bitcoin payments, though.
King’s College New York, The University of Nicosia and The University of Cumbria are some other institutions embracing Bitcoin as of late. It is unclear how successful those ventures have been to date, though. With this increased focus on Bitcoin, things certainly take an interesting turn. This doesn’t mean Bitcoin will become the go-to payment method for students worldwide, though. It is an interesting social experiment, but nothing more than that.
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