MIT Bitcoin Club was based this year and is aimed to provide forums andmeetings where Bitcoin-related ideas, projects, programs, events, andbusinesses can be studied, discussed, and developed, saying that “Bitcoin hasthe potential to be not just a digital currency, but the future of money.”
Yesterday, on the 29th of April MIT Bitcoin Club announced promisinginformation – two high-potential students have developed an idea of ambitiousBitcoin Project at MIT. Moreover, the project received a funding over $500,000.
It money from funding are planned to be distributed in a form of moderndigital currency to all 4,528 undergraduates. Meaning that each undergradstudent will get almost $100.
The funding is being provided by MIT alumni and support from the Bitcoin community.
The project aimed to create independent ecosystem for digital currenciesat the Institute. They want to involve a range of activities and studies tofigure out how students use bitcoins they receive. The way student actually aregoing to use it is a mystery for now.
Two heroes who helped to develop the project are students at theInstitute – Jeremy Rubin and Dan Elitzer. Rubin studies computer science whileElitzer is a student of the MBA program and president of the MIT Bitcoin Club.
“Giving students access to cryptocurrencies is analogous to providingthem with internet access at the dawn of the internet era,” said Rubin.
It will be the first time when such a widespread access to Bitcoin isgoing to be taken. Nevertheless, MIT campus will become the first place in theworld taken such a study.
The distribution of digital currency is scheduled to fall 2014.
“We decided to announce this project now to give students lead time. Wewant to issue a challenge to some of the brightest technical minds of a generation:‘When you step onto campus this fall, all of your classmates are going to haveaccess to bitcoin; what are YOU going to build to give them interesting ways touse it?’” explained Elitzer.