Bitcoin as blockchain course could be an emerging 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 emergence of technology

More universities around the world are beginning to offer courses in this area as blockchain technology’s popularity continues to rise. Furthermore, some colleges are now going one step further by accepting Bitcoin as payment for these courses.

The digital currency known as Bitcoin was developed in 2009 by an unidentified creator going by the name Satoshi Nakamoto. Without the use of banks as middlemen, transactions are completed. Hotel reservations on Expedia, furniture purchases on Overstock, and Xbox game purchases can be made using Bitcoin. However, a lot of the hype centers on how to trade it for money. In 2017, the cost of Bitcoin soared into the thousands.

Universities accepting 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 enroll in, 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 its 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.

Advantages 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 globe who might not have access to conventional banking systems. Universities can also cut back on transaction costs and fraud risk.

Bitcoin payments can be quicker and more practical for students than more conventional payment methods. Additionally, it enables them to benefit from any future increases in the value of Bitcoin, which may enable them to make long-term financial savings.

Drawbacks of accepting bitcoin in Universities

Accepting Bitcoin for tuition does have some potential cons, though. The value fluctuation of Bitcoin is one major issue. It may be challenging for universities to budget and make long-term plans because the price of Bitcoin can change dramatically in a short amount of time.

The potential for fraud and money laundering is another issue. Because Bitcoin transactions are private and irreversible, it may be simpler for criminals to use it for unlawful activities.

Despite these concerns, it appears likely that in the future, more universities will begin accepting Bitcoin. Universities will need to stay on top of the most recent trends, technologies, and education in order to stay relevant and competitive as blockchain and cryptocurrencies gain importance in the finance and technology worlds. And for students interested in these fields, paying with Bitcoin might end up being a common practice during the academic year.

A university business school or computer engineering school can fall behind if they do not offer blockchain technology courses, or, ideally, entire programs. In the job market, their students may fall behind, which is more concerning. 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 mentioning blockchain, and 15 of the 18 most-searched postings have specifically used the word “blockchain.” Obviously, these are not scientific numbers, but they show that a major shift is taking place.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing