Author Topic: Is MIT Even More Progressive than Ever?  (Read 649 times)

Offline BitTeaser

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Is MIT Even More Progressive than Ever?
« on: August 15, 2015, 08:58:13 PM »

The world known Technological University – MIT showed the world their interest and desire to research digital currency by establishing student Bitcoin Club (, whose goal is to create projects, programs and different events to learn and research bitcoin.  MIT is extremely famous because of constant innovative developments in robotics and artificial intelligence. Every year there are      28 000 applications on 1800 available places, aside from pretty expensive tuition.
If MIT decided to try to operate with Bitcoin, we definitely can wait for something grand. Two university students, Jeremy Rubin and Dan Elitzer, proposed very unique project for the university. The core idea of the project, to delegate some amount of Bitcoins to each undergraduate participant in MIT (e.g. current moment it is 4528 students) To be specific, with investors support, they collected funds in the amount of 500 000 USD, with true believe that this project will promote and make digital crypto currency one of the most popular currency among students. Basically, this autumn students will get bitcoins in the equivalent of 100 USD, and they are free to spend it the way they prefer. That will be an index for a Bitcoin Club, that will show how students are spending digital currency, how the manage it. This is why and how the fund raised money will be spent, and cause a lot of curiosity, because nobody has an idea how participants will operate with bitcoins. Also, Bitcoin Club will educate and provide information regardless Bitcoin to every person, to get them used and understand the work principal of Bitcoin and its benefits.
According to official statement, the goal is to create an independent ecosystem for digital currencies, inside and under the management of MIT. Apart from access to significant internal resources of MIT, a new position within the university will give them an opportunity to significantly increase the volume of bitcoin development by involving new students helping with research projects and other assignments. There are already some businesses that accept Bitcoin as a payment type on the university territory, but according to organizers’ plan, local Bitcoin ecosystem should root the position much stronger and stable.
As was mentioned above, and according to survey, MIT is the perfect choice for Bitcoin experiment, because of the environment - young, smart and financially stable students are the perfect candidates as bitcoin followers.