University in Cyprus to start accepting bitcoin payments

The University of Nicosia in Cyprus has announced it will start accepting bitcoins as an alternative way to pay tuition. Bitcoin is a completely digital form of currency that operates on a decentralized, peer-to-peer network. According to the university, it is the first in the world to accept bitcoins as payment. uNicosia's Chief Financial Officer Christos Vlachos says the move will help foreign students who face difficulties and excess fees using traditional banking to pay for programs and/or online degrees. uNicosia is also offering a new Master’s degree in digital currency. Vlachos is encouraging the Cypriot government to “set up a regulatory framework to attract digital currency trading companies and boost the bailed-out country's foundering economy.” CBC (Canadian Press)