Cyprus-Forum.com

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For those who want to know more about Bitcoin and the UNic Digital Currency Initiative, see their website here:

http://www.unic.ac.cy/digitalcurrency

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University of Nicosia Receives First Tuition Payment Using Bitcoin

New Student From South Africa Uses Bitcoin to Pay Tuition Toward Online MBA Degree

NICOSIA, CYPRUS--(Marketwired - Dec 5, 2013) - A few days after the University of Nicosia ("UNic") announced that it is the first accredited university in the world to accept Bitcoin for payment of tuition and fees, a recently enrolled international student has made the first tuition payment to UNic using the popular digital currency. UNic is the largest private university in Cyprus and one of the largest English language universities in the Euro Mediterranean region.

On November 27, Francois Rossouw, a new UNic student in South Africa, made a payment of 1 BTC, the equivalent of EUR 670 ($910), toward tuition for an online Master of Business Administration degree.

"I am honored to be a part of this historical occasion. Being able to pay for a world-class tertiary education with Bitcoin was a dream of many but few believed that it would become a reality so soon," said Mr. Rossouw. "I am not surprised that it was the University of Nicosia, with their history of trendsetting and innovation who took the first step. I commend them on breaking the shackles of traditional payment barriers."

"This is exactly what we expected, that initial adoption would occur from students who are attending our online degree programs from certain countries in Africa. In some countries, international payments are extremely cumbersome and given that certain students pay on a monthly installment plan, transmission fees end up reaching 5 to 10 percent of their payments and are highly inconvenient," said Dr. Christos Vlachos, member of the Council of the University of Nicosia and the University's Chief Financial Officer. "The intention of this initiative is to ease transmission difficulties and to build our own practical knowledge about this field."

http://www.marketwired.com/press-releas ... 859670.htm?