Morningside School of Music joins in the first schools especially in Scotland to accept bitcoin for tuition. The school made this known to the public on March 28. According to the director, Linda Boyd expressed her belief in bitcoin saying;
The school had noticed the trend of larger firms joining the crypto economy and it’s “just a matter of time before smaller businesses like ours start doing the same,”
Why Morningside Moves to Accept Crypto payment
Boyd disclosed that the school accepts bitcoin for certain items but are now accepting digital assets as a form of payment. She reviewed in an interview that; “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”
The school seems to move in with the suggestion of most of its students to accept payment in cryptocurrency. Data show Morningside School of Music has around 700 students of which many of whom are employed in the fintech industry. Such an announcement came with a motive of providing alternative means of payment to the students.
Boyd confirmed that 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,” she added.
Edinburgh, Scotland is one of the crypto-friendly cities. They are for its forward-thinking fintech ecosystem, therefore, crypto acceptance seemed to be the right fit, Boyd said.
She stressed that “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.”
Several digital wallet and payments platforms like Zumo and BC Vault agreed the school’s announcement is a welcome development. Particularly, Zumo CEO, Nick Jones said the firm was delighted to see that the school will be accepting payments from customers in the form of cryptocurrency.
According to Jones, “It’s amazing to see crypto take root in my back garden of Edinburgh, but also because it all became about due to requests from students.” He also added, “This should be unsurprising given that in a recent poll we carried out, it was the youngest respondents who are more excited about the future of crypto– indeed, over 50% of 18-24-year-olds believe it will be a normal form of payment in the next 10 years.”