The Lomond School in Scotland has become the first Academic Department in the UK to accept teaching payments in Bitcoin (BTC) that represent a major step in the crypto -mainstream -adoption.
Bitcoin represents independence and innovation, says Lomond
On one Recent blog postsLomond School announced the introduction of BTC as a payment option for teaching fees. The handling of the British school explains that this decision was driven by several factors including Bitcoin’s adaptation to independent thinking and innovation included in the school’s nuclear.
Lomond describes Bitcoin as a decentralized asset without a central authority and is easily accessible and transmitted, which reflects important principles such as democracy and inclusion.
A statement from school reads:
… bitcoin is accessible to anyone who is willing to learn – to make it more democratic and inclusive, especially for people in developing countries who do not have access to traditional bank. Lomond sees Bitcoin as a perfect real case study in economics, computer, ethics and innovation.
The Scottish School goes on to say that the adoption of BTC as a payment option is also driven by significant demand from local parents and international agents, which shows the rising global acceptance of Cryptocurrencies as viable financial assets.
However, Lomond has stated that the school will only deal with Bitcoin right now that has divorced other cryptocorate in terms of “security, scarcity, openness and resilience.”
Lomond: Bitcoin Treasury is feasible
In order to dampen the customer’s fear of blockchain security, Lomond has stated that these BTC payments will be received by regulated and KYC compatible partners musket and convener, on behalf of the school. Despite this crypt -friendly approach, however, Lomond has stated that all Bitcoin received immediately will be converted to Britain’s pound (GBP) to avoid dealing with crypto market vollatility.
Nevertheless, there is the opportunity to establish a BTC tax chamber at the advent of significant support from the school community.
Lomond says:
Treasury (Bitcoin) is a faced goal, not an immediate change, and it depends entirely on community support and the school’s ability to responsibly “stack Sat” over time.
While Lomond may be the first British school that dabbed in Bitcoin payments, academic institutions in other countries have long investigated the use of the foremost Cryptocurrency. Some of these schools include Wharton College at the University of PennsylvaniaKing’s College in New York and, among other things, large universities in El Salvador. At the same time, other academic institutions such as the University of Wyoming have developed plenty of resources to conduct peer-reviewed research on “digital gold.”
At the time of writing, BTC continues to trade at $ 83,230 after a price increase of 3.65% over the past 24 hours.
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