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A leading business school in the US, Wharton School of the University of Pennsylvania, has started to embrace cryptocurrencies as a means of payment. This news has created a lot of excitement in the crypto community, with many believing that the move could have a ripple effect and seeing other institutions also adopt crypto.
Pay Tuition Fees in Cryptocurrencies
The US business school has announced that it will start accepting bitcoin and other cryptocurrencies as payment for tuition fees. However, the school has stated that this payment option will only apply to students taking a new course dubbed “Economics of Blockchain and Digital Assets.”
The course is expected to start on January 3, 2022. It is a six-week course that will teach students about the potential use cases of cryptocurrencies, NFTs and CBDCs. The modules of the course will also involve DAOs and DeFi. It will also look at the role of regulations in the sector and give students basic investing skills in the crypto and blockchain sectors.
The tuition fee for this course is $3800, and students who choose to partake in it can pay in cryptocurrencies. Some of the cryptocurrencies that will be accepted as payments for this course include Bitcoin, Ether and USDC, and the payments can be made through Coinbase Commerce.
Commenting on this development, the academic director at the institution, Professor Kevin Werbach, stated that, “We designed this program for business professionals and executives from a range of backgrounds, including traditional finance, management, and tech.”
Werbach further stated that this course will equip students with the knowledge needed to understand this innovative technology and help them understand the solutions that come from adopting such innovations.
Wharton School and Crypto
This is not the first time that the Wharton School of Business has accepted the cryptocurrency and blockchain spaces. The school offers an introductory course on crypto and blockchain technology. This course is offered via the Coursera platform.
In May, the business school received a $5 million Bitcoin gift from a school alumnus. However, the alumni chose to be unidentified. The school transferred the bitcoin into fiat currency, and the funds were directed to the Stevens Center for Innovation in Finance. Among the school’s most prominent alumni include Elon Musk, Peter Lynch and Sundar Pichai.
The school has also partnered with the World Economic Forum to create a system that will be used to regulate the digital asset sector.
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