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Wednesday, 23 April 2014

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Cumbria university to accept Bitcoin payments

The University of Cumbria is to accept virtual currency Bitcoin for payment of fees.

The payments will be linked to two programmes studying complementary currencies.

The courses are run by the university's new Institute for Leadership and Sustainability.

Its director Jem Bendall said: “We believe in learning by doing and so to help inform our courses on complementary currencies, we are trialling the acceptance of them."

The payments will initially be limited to two programmes. They are the Certificate of Achievement in Sustainable Exchange, which will be taught at the university’s London campus from July and the Postgraduate Certificate in Sustainable Leadership, which will be taught from the Lake District campus from June.

Late last year, a private university in Cyprus announced it would accept Bitcoin but Cumbria uni is the first public university to do so.

Its system for accepting payments, via the Bitpay system, is already operational.

‘Complementary currencies’ is a term used to describe forms of money that supplement a national currency. It is often used interchangably with ‘alternative currency’, however the term’s exact definition is the subject of an ongoing academic debate, says coindesk.com

This Wikipedia entry explains Bitcoin

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