The Lomond School in Scotland became the first academic institution in Great Britain, which adopted tuition payments at Bitcoin (BTC), which is a significant step in the adoption of the main cryptographic trend.
Bitcoin represents independence and innovation, says Lomond
IN The latest post on the blogThe Lomond School announced the inclusion of BTC as a payment option for the tuition fee. British school management explains that this decision was caused by many factors, including the adaptation of Bitcoin with independent thinking and innovations, which are part of the primary ethos of the school.
Lomond describes bitcoins as a decentralized resource without central authority and is easily accessible and possible to transfer, thus reflecting crucial rules, such as democracy and inclusion.
The school’s statement is:
… Bitcoin is available to anyone who wants to learn – increasing it more democratic and integration, especially for people in developing countries who lack access to established banking. Lomond perceives Bitcoin as an ideal case study in the scope of real economics, calculations, ethics and innovation.
The Scottish school also states that the adoption of BTC as a payment alternative also results from the significant demand of local parents and international agents, showing the growing global acceptance of cryptocurrencies as real financial assets.
However, Lomond stated that the school would only deal with Bitcoins, which stood out from other cryptocurrencies in terms of “safety, deficiency, transparency and immunity.”
Lomond: Bitcoin treasure is feasible
To serene customer concerns against blockchain security, Lomond stated that these BTC payments would be received by regulated and consistent with KYC-Muts and Concorner, on behalf of the school. However, despite this approach -friendly cryptocurrency approach, Lomond stated that all received bitcoins would be immediately transformed into pounds of Great Britain (GBP) to avoid dealing with the variability of the cryptographic market.
Nevertheless, it is possible to establish the BTC treasury in the arrival of significant support from the school community.
Lomond says:
The State Treasury (Bitcoin) is a gradual goal, not an immediate change, and depends entirely on the support of the school’s community and the ability of the school for a responsible “pile of sat” over time.
While Lomond can be the first British school that deals with Bitcoin payments, academic institutions in other countries have long been investigating the employ of cryptocurrency credibility. Some of these schools include, among others, Wharton College at the University of Pennsylvania, King’s College in Fresh York and the main universities in Salvador. Meanwhile, other academic institutions, such as the University of Wyoming, have developed gigantic resources to conduct a review of research on “digital gold”.
At the time of writing this text, BTC still trades USD 83,230 after 3.65% price raise in the last 24 hours.
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