According to a post by LightningASIC and BitExchange, the latter has launched an initiative to introduce Bitcoin ATMs to universities.
As the popularity of Bitcoin grows, it is time to introduce the concept of Bitcoin and its uses to university students as well. At the moment there are only a handful of universities across the world who have a course on Bitcoin and other cryptocurrencies included in their curriculum. It might take some time for the universities and colleges to wake up to the importance of Bitcoin in today’s economy and the wonders Bitcoin technology can do in solving many real world problems.
While the universities wait for enough demand from the student community to introduce digital currency related courses, they can still engage their students in other ways. One such option is just made available by BitExchange. BitExchange has recently announced its University Bitcoin ATM Program where the company plans to provide Bitcoin ATMs to 20 universities across the world. It wants to distribute these ATMs across the world with 5 ATMs each in North America, Europe, Asia and the remaining 5 ATMs to rest of the world. BitExchange will be providing the new BitFlash one-way ATMs as part of this program. The company claims that these ATMs are fast and easy to set up and use.
In order to install these ATMs in their campus, the universities should apply for it by sending photos of the campus along with a description of how the Bitcoin ATM will benefit the institution and its students. BitExchange will be selecting the eligible institutions after reviewing the applications. Selected universities can expect a response from the company within two weeks of applying.
These BitFlash Bitcoin ATMs comes with a lifetime user rights, assigned to the university as long as the machine is installed in the campus. The company will however retain the ownership of these ATMs. While the responsibility of managing these machines rests on the universities, BitExchange will be charging a transaction fee of somewhere between 0.5-1% of the transaction value. However, universities can fix their own transaction fee, as long as they share the agreed up percentage with the company. All the costs regarding shipping and installation will be the responsibility of the university participating the program. While it seems to be an attractive program, it is still uncertain about how many universities will actually take part in this program.