Bitcoin trial to kick off with MIT undergrads next year
1 May 2014 10:59 PM GMT
Bitcoin is not backed by any government or central bank, a digital currency whose value can swing dramatically based on demand. Users can transfer bitcoins to each other online and store the currency in digital ‘wallets.’
Jeremy Rubin, a sophomore, and Dan Elitzer, an MBA candidate, raised half a million dollars from alumni and other sources to fund the experiment after coming up with the idea last month.
The extra money will go toward infrastructure and education and the offer may eventually be extended to other students beyond undergrads.
‘MIT’s campus will become a place where bitcoin is more widely used than anywhere else in the world,’ said Elitzer, who is president of the MIT Bitcoin Club. But not all bitcoin ventures have been a success.
Jeremy Rubin, a sophomore, and Dan Elitzer, an MBA candidate, raised half a million dollars from alumni and other sources to fund the experiment after coming up with the idea last month.
The extra money will go toward infrastructure and education and the offer may eventually be extended to other students beyond undergrads.
‘MIT’s campus will become a place where bitcoin is more widely used than anywhere else in the world,’ said Elitzer, who is president of the MIT Bitcoin Club. But not all bitcoin ventures have been a success.
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