Perhaps you have been hearing alot about Bitcoin on the internet and the few papers that bother to chime in on emerging trends over the last few months and wondering what it is. You are not alone, many are yet to figure out what Bitcoin is or how it can be of benefit to them. To those that figured out how Bitcoin could one day be a power currency both online and offline, they invested and at the moment it is paying off, well at least before that bubble every analyst and pundit is talking about bursts. If you are wondering of what practical use Bitcoin is then news that a university in Cyprus will allow students to pay their tuition fees using it should make you pay close attention. Yes, students at the University of Nicosia, Cyprus, can pay their fees using Bitcoin!
The University of Nicosia is the first to do so and takes huge pride as it openly declares on its website that the idea is both noble and convenient to many of its online scholars particularly those from countries that make international payments very cumbersome and expensive. Looking at it from my point of view as a student, it makes a lot of sense. We are just starting to break ground as far as making payments online is concerned with things like the Nation Hela card, PayPal partnerships with local banks in more developing countries and the like.
The university makes it clear that unlike investors that have been buying into the Bitcoin craze lately for speculative reasons, it is not up to such things, it is out to make knowledge available to all. Also, being a university, it is rightful of the institution to be on the forefront to embrace what could as well be the future. Universities are hubs of research after all.