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World
01 Jul 2017

This New York pre-school is accepting bitcoins as tuition fees

Bitcoin accepted as tuition fee in NY pre-school

While the UNICEF is still working to provide education to school going children in each and every part of the world, a futuristic school in New York has already leapt further and has introduced bitcoin as the mode of payment for its tuition fees.

Montessori Schools in Flatiron and Soho in New York are taking the digital currency as payment option.

In context

Bitcoin accepted as tuition fee in NY pre-school
The need for bitcoin

Reason

The need for bitcoin

Co-founder and Chairman of the Montessori Schools in Flatiron and Soho Marco Ciocca said that the growing inquisitiveness and inquiries from parents propelled them to go on-board with the decision of introducing bitcoins.

Talking about the digital mode of payment, Ciocca says that increasing number of universities were using this payment option.

He also said that bitcoins is proving to be of ease.

What is bitcoin?

Invented by an unknown programmer(s) under the name Satoshi Nakamoto, bitcoin is a cryptocurrency and a digital payments system introduced first in 2009. It's a peer-to-peer system where transactions take place without any intermediary. Transactions are recorded in an unalterable publicly distributed legder called blockchain.

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Conclusion

Does bitcoin sees any future?

According to chairman of Montessori Schools in Flatiron and Soho, bitcoins have a huge potential as he has been a part of the growth bitcoins have witnessed.

If one is to go by market statistics, bitcoins have seen a huge surge in the recent times.

The ease in transactions is another reason for the digital currency to be popular.

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