Home Articles Foward-thinking Flinders University becomes first in Australia to accept Bitcoin

Foward-thinking Flinders University becomes first in Australia to accept Bitcoin

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Here’s your chance to put that BitCoin mining rig you’ve got running in your garage to some good use: paying for your business education.

Through New Venture Institute, Flinders University is now the first Australian University to accept Bitcoin payments in Australia. Flinders’ New Venture Institute, a 12-week entrepreneurial educational program, is the specific branch of the uni now accepting Bitcoin.

Why would a university take BitCoin?

“In the current education environment where Australian Universities are being turned upside down, they are looking to answer how to best stay relevant and react to market forces,” said New Venture Institute Director, Matt Salier.

The response of Flinders University was to set up New Venture Institute in 2013 and become far more focused externally than before. Practically this means creating businesses and exploring models that create local economic growth; disruptive trends and technologies are catalysts for this.

“As such, New Venture Institute adopts technology that it advocates as long as it makes sense for its business model,” Salier explained further.

Transactional, cloud and big data technologies like customer relationship management (CRM) and analytics as well as Bitcoin are some of those. As a consequence this also means the University becomes increasingly relevant to a millennial demographic.”

Bitcoins: increasingly accepted in education

Bitcoin has significant traction and market salience amongst the digital currencies and is a viable payment alternative. Flinders joins the ranks of international schools like King’s College in New York, which was amongst the first to accept cryptocurrencies to pay students’ tuition.

In addition to accepting BitCoin for its 12-week course, New Venture Institute is also accepting the cryptocurrency for its Entrepreneurs in Conversation event series.

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