The report of ESMT University in Berlin becoming the first university in Germany to accept Bitcoin hit the news only a few days ago, but new developments are already sparking interest and excitement across the cryptocurrency community. While experts believe it could be a while before Bitcoin can actually be widely-used, signs of cryptocurrency leading the future can already be seen today.
A Continuing Trend
The trend was first started by the University of Nicosia in Cyprus. The university started accepting Bitcoin as a valid payment method for students to use. Not only that, the university also started a graduate program in the field of cryptocurrency, allowing students to pursue a master’s degree in digital currencies.
It has only been three years since the trend started and we already have hundreds of universities across the globe recognizing Bitcoin one way or another. Campus-based bookstores and coffee shops – as well as other facilities – are now accepting Bitcoin payments. Several universities with reputable online business programs are even accepting Bitcoin payments for tuition and other fees.
What’s interesting is the fact that this trend is not showing signs of slowing down. The Simon Fraser University in Canada still accepts Bitcoin at its bookstore, while the University of Cumbria in the United Kingdom recognizes Bitcoin as a valid payment method across its campus.
Shaping the Future
Many believe that the support of universities and educational institutions is needed for cryptocurrency to turn into a mainstream currency. Fortunately, more institutions are now showing their support for Bitcoin through the introduction of classes and programs on cryptocurrency and the technology behind it.
Top names such as Arizona State University are beginning to introduce classes on cryptocurrency as part of their online business administration degree. Even when they don’t have a dedicated class or program on cryptocurrency, the mention of Bitcoin in curriculums and syllabuses is now more common than ever.
Combined with the fact that today’s students are so used to using Bitcoin for making payments, and we have a bright future to look forward to. As these students become the key decision makers across the world, we will see more outlets and businesses accepting Bitcoin.
Times Are Changing
If you think it would be a few more years before you can go to any retail store and pay using Bitcoin, you may want to think again. The changes the cryptocurrency community has been waiting for are happening right now – and much sooner than what experts have predicted.
It wasn’t too long ago that Stanford students were learning about the implementation of Bitcoin in various scenarios. Today, those scenarios are happening and the results of the studies are being implemented into real solutions. The university also maintains its Bitcoin Engineering lab and continues to push students to do research on the cryptocurrency.
These changes are happening already. In as little as a year’s time, more students – equipped with immense knowledge on Bitcoin and cryptocurrency in general – will start entering the market and help shape the future of this community.