THE first payment of a cyber currency has been paid to the University of Cumbria.
In January the university announced it would become the first in the world to accept Bitcoin payments for two of its courses, Earlier this month German student Leander Bindewald became the first to complete a payment for his PhD on ‘the role of complementary currencies in the new social paradigm of money’ at the university.
The payment is one month’s instalment of his tuition fees – but it represents a momentous moment in the history of currency innovation.
“Bitcoin is posing questions about the nature of money and our financial and social systems, which do not find simple answers in traditional banking and economic theory,” said Leander.
“This is a clear sign of a shift and I am glad the University of Cumbria is providing not only a research environment for these questions, but engages in the learning with new currencies.”