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Swiss Public university starts accepting Bitcoin

The Swiss University of Applied Sciences and Arts in Lucerne is now accepting bitcoin.

06.Oct.17 5:31 AM
By Daria Zaytseva


Swiss Public university starts accepting Bitcoin
The state institution takes a cryptocurrency as payment for student accounts through a partnership with Bitcoin Suisse AG. As expected, the university itself won’t handle the bitcoin - rather, the brokerage firm will exchange incoming payments to Swiss francs on a weekly basis, according to the report.

However, most students are not expected to be accepted immediately. It is assumed that only those who understand finance or are interested in obtaining an education in this area will choose the method of payment, the release says.

This step makes it the latest publicly funded institution of higher education to take bitcoin as an alternative payment, after the Royal College of New York, the University of Nicosia in Cyprus and the University of Cumbria in the United Kingdom.

However, this step is perhaps not surprising, given the interest that the university has demonstrated toward the technology to date. Researchers from Lucerne are involved in several initiatives related to the blockchain, including an ethereum-based identity solution, which is headed by the city of Zug.

The university is also a member of the non-profit Crypto Valley Association, a working group dedicated to companies and startups in Switzerland that are using the technology.

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