The cryptocurrency is still in the early stages of mass adoption. Various banks, even countries, have started to realize the importance of these crypto tokens like Bitcoin, Ethereum, etc. However, universities accepting crypto like bitcoin is a less discussed topic.
Universities got wind of the potential of cryptocurrencies very early on and began accepting bitcoin payments for tuition. The main reason for this introduction is to stay one step ahead in the race and make the students aware of the market trends. Another could be to relieve international students who have to pay currency conversion fees.
Here’s the latest addition
The Wharton School at the University of Pennsylvania, one of America’s leading business schools, has joined the same bandwagon. It plans to adopt cryptocurrency as a tuition for its online blockchain and digital asset program. According to a Bloomberg report
“The Ivy League institution’s new continuing education program will accept coins like bitcoin as a payment method.”
However, the rollout is limited to the new online blockchain and digital asset program, which is set to launch in January.
Penn’s top Wharton Business School will accept crypto as classes for their online blockchain and digital asset program https://t.co/uIE3ywK2OX
— Bloomberg Crypto (@crypto) October 28, 2021
The six-week program, titled Economics of Blockchain and Digital Assets, costs $3,800. The university expects to attract thousands of students each year. In the meantime, Wharton relies on Coinbase Commerce to process payments. Guido Molinari, managing partner of Prysm Group, who is working with Wharton on the development of the program, said in an interview:
“It’s a program about blockchain and digital assets, we felt like we were leading the conversation and walking the path.”
Indeed, Coinbase has emerged at the forefront with various firms partnering with the crypto exchange for their crypto-related needs. Now, of course, such moves will help bring crypto token payments into the mainstream. Not just in the US, but all over the world.
In addition, the university in question has produced great leaders in the past. Many notable alumni are actively involved in the cryptocurrency ecosystem. Tesla Chief Executive Officer Elon Musk, who graduated in 1997, has pushed the company and its SpaceX to buy Bitcoin for their corporate coffers.
The business school made headlines earlier this year when it received a lavish gift of $5 million in Bitcoin. There have been many university experiments with cryptocurrencies over the years. The Massachusetts Institute of Technology famously gave Bitcoin to its students in 2014. Other colleges have started allowing students to use crypto to pay for tuition, such as B. King’s College in New York.
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