Financia Business School in Paris is accepting tuition payments in Bitcoin, much to the delight of some of its foreign students.
Disruptive technology is the way of the future. Thanks to blockchain and cryptocurrencies, processes like supply chain management and cross-border payments have been made more efficient while saving companies money in the process. It’s no wonder then that blockchain engineers are so in demand.
This interest has filtered through to the education sector, with top universities offering industry-related courses. French-based Financia Business School has taken things one step further and is now accepting cryptocurrency as payment for tuition.
Another Example of Bitcoin Acceptance
According to Studyrama, the school has already accepted crypto payments from five students, one of whom is Adam Hasib who paid his registration fees in Bitcoin. In a translated quote, Hasib explained his process:
I became interested in this technology very early on and quickly became a staunch follower of the blockchain’s decentralized model. By June 2017 I had acquired my first bitcoins, which allowed me to pay the registration deposit at school with the added value achieved in the meantime! I just had to contact the administration to get the address “wallet” before depositing my deposit at the school and the trick was played!
Approximately 25% of students at the French school are foreign, which, in turn, means foreign payments and all of the delays and sometimes excessive fees that come along with it. By partnering with Coin Capital, a blockchain-based platform that is assisting with the fee process, the school is making payment transactions so much easier and more secure for these students.
Driving Innovation
As a “specialized finance school”, Financia sees itself as innovative and accepting of new technologies, as is evidenced by its new payment method. It aims to continue its exploration of blockchain by creating its own token that will be used as a medium of exchange both within the school as well as within partner institutions.
The school also hopes to introduce Proof of Concept (PoC) for students’ blockchain projects as well as continue and build on their existing courses on blockchain and crypto-related topics.
While a welcome move, Financia is not the only educational institution in Europe that accepts payments in virtual currency. Lucerne University in the crypto hub of Switzerland began accepting Bitcoin payments in October last year.
Perhaps the natural progression for all of these universities and schools that are teaching about crypto should be that they actually accept it as tuition payment as well.
Do you think that we’ll see more universities begin accepting crypto payments? Let us know in the comments below!
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