BY DAYO ADESULU
The cryptocurrency space has been boosted again when the Scottish school of music in Edinburgh said students can now pay their tuition with cryptocurrency.
Linda Boyd, the institution’s director explained that the Scottish school discovered that since bigger firms are accepting the cryptocurrency, a smaller institution like theirs should do the same.
It was gathered that Morningside School of Music has roughly 700 students.
Ironically, while some smaller countries of the world are dilly-dallying on the acceptability of cryptocurrency, many developed countries have already adopted it as legal tender, as holders of the digital currency use it to buy houses, book flight tickets, pay bills and cash out from over 2,000 ATMs
Linda Boyd, said: “It’s just a matter of time before smaller businesses like ours start doing the same.”
According to Boyd, the school used bitcoin in the past to pay for certain items.
“We sometimes use things like Bitcoin to pay for goods for the school, so we know how fast and easy it is and want our music students to be able to do the same,” said Boyd.
The music director pointed out that many of the school’s adult pupils are employed in the fintech industry and a number of the students suggested the school should accept crypto payments.
Boyd explained: ”The decision was made to make it easier for pupils and their families to pay for tuition. “It’s just about giving our customers another way of paying and making life easier for them.”
Boyd, in the interview, said that Edinburgh, Scotland is known for its forward-thinking fintech ecosystem.
“Edinburgh’s got a big fintech industry and many of our pupils work or study in that sector so for them, this is a perfectly natural way to pay,” she added.