The IEBS business school in Spain has become the first online educational initiative focused on business, accepting cryptocurrencies as a method of payment in the world, as they recently announced that their Masters and Postgraduate students will be able to pay their tuition with bitcoins.
Students from the Business School of Innovation and Entrepreneurs (IEBS) will now be able to cancel the equivalent to euros from their postgraduate or diploma course online with BTC. This adoption follows the innovative line that the company has taken in the search for different payment alternatives to traditional methods.
The cryptocurrencies are a fundamental part of the school's strategy to change the means of payment and offer alternatives to currency exchange.
Óscar Fuente
CEO, IEBS
According to the information provided by IEBS, the education provided by this online education institute is not limited to clients within Spain, so ensuring a fixed price -established under the same exchange rate- for international clients in its local currency is one of the challenges that it faces, and that it wants to overcome by including bitcoin as an alternative payment accessible worldwide.
Although this is the first time that an educational institute accepts bitcoins, it is not the first opportunity in which cryptocurrencies and education come together in Spain; because throughout the year multiple educational initiatives on blockchain and cryptocurrencies have been developed.
In the last two years, initiatives related to the cryptocurrency environment in the European country have increased. However, they are mostly projects or research that use blockchain technology to revolutionize banking and financial services.
An example of this is the Master of the University of Alcalá dedicated to the chain of blocks of Ethereum, intelligent contracts and the economy of the cryptoecosystem. Thus, workshops have also been given so that Spanish people can get information about digital currencies and the blockchain.