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UNic: World's First University to Accept Bitcoin and Offer Master’s Degree in Digital Currency

Nov 21 2013, 9:48am CST | by , in News | Technology News

UNic: World's First University to Accept Bitcoin and Offer Master’s Degree in Digital Currency

Now you can use Bitcoin to pay your college fee. The University of Nicosia (UNic) in Cyprus has started accepting Bitcoin for payments regarding tuitions and other fees. UNic is the world's first university to accept Bitcoin and to offer a Master’s Degree in Digital Currency.

A leading private university in Cyprus, the University of Nicosia (UNic), has now become the world's first educational institution to accept Bitcoin for the payment of tuitions and other fees. UNic is also going to start a Master's degree program in Digital Currency.  Hence, it will also gain fame as the world's first university to offer a degree in Digital Currency.

Bitcoin has now become an increasingly popular digital currency in its own right. Due to its growing popularity, many financial firms have started thinking about accepting it in their day to day transactions. And a Cypriot University finally took the daring step and became the first educational institution to accept Bitcoin payments. 

Dr. Christos Vlachos, member of the Council of the University of Nicosia, and the University’s Chief Financial Officer, said, “We are acutely aware that digital currency is an inevitable technical development that will lead to significant innovation in online commerce, financial systems, international payments and remittances and global economic development. Digital currency will create more efficient services and will serve as a mechanism for spreading financial services to under-banked regions of the world. Our world class business, accounting and computer science departments have partnered to create an interdisciplinary major to prepare people for these revolutionary changes. In this light, we consider it appropriate that we implement digital currency as a method of payment across all our institutions in all cities and countries of our operations.”

UNic is not only a private university in Cyprus but also one of the largest English language universities in the Euro-Mediterranean region. The first ever Master of Science Degree in Digital Currency is going to get launched in the spring of 2014. UNic has designed this Master’s Degree program in order to better understand the technical underpinnings of digital currency. And this degree will help financial services as well as business professionals, entrepreneurs, government officials and public administrators to better understand and interact with the current monetary and financial systems. This will also help in the creation of new opportunities to bring innovation in digital currency systems.

Dr. Andreas Polemitis also said, “While digital currency is a relatively new concept, currency is one of the oldest human inventions. What we aim to explore in this program is the likely development pathway of digital currency and give our students insights that they can bring to bear in their professional careers.”

This new Master’s program will be available online worldwide for the sake of students and also for on-campus purposes starting in the spring season of 2014. The enrollment is free of cost. And English will be the linguistic medium of instruction. UNic also wants to transform Cyprus into a hub for Bitcoin trading, processing and banking. And it is asking its government and relevant stakeholders to take the initiative and facilitate this progressive scheme.

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