A South African Business School based in Cape Town and Johannesburg which goes by the name Red & Yellow has announced that it will start accepting tuition fees in Bitcoin.
As revealed by ITWeb, Red & Yellow will be accepting Bitcoin payments for certificates, diplomas, degrees, as well as online courses. Rob Stokes, the chairman of the Red & Yellow said: “The reality is that bitcoin is here to stay and with many youngsters having made a good return on their investment in cryptocurrencies, they now want to use this digital cash to invest in their education […],”.
Red & Yellow markets itself as the first Business School to accept Bitcoin in South Africa
Reports hold that Red & Yellow decided to market itself as the first business school accepting Bitcoin payments in South Africa. Based on the school’s objective of better preparing students for the future, it is not surprising that it has embraced what could be the future of digital coin. “The world is changing rapidly, as are our students and [it is] our responsibility to ensure we are serving their future [focused] needs,” Stokes asserted.
Note that Red & Yellow was started back in 1994 with a main focus on creative thinking. And today, it stands out as one of the best business schools in South Africa that integrates marketing, human studies, creative production, and management studies into all its programs so as to produce well-rounded and competent professionals.
The advantage of accepting tuition fees in Bitcoin
Behold, there are lots of benefits that come with accepting tuition fees in Bitcoin. One of such is the ability to reach more students than it is the case with conventional institutions. Note here that schools that accept tuition fees in Bitcoin are attractive to students from countries with inadequate banking systems. Following this, we can say that the acceptance of Bitcoin payments in schools can likely be perceived as a marketing strategy.
Professor Simpson, the head of management studies at Red & Yellow stated, “Not only will bitcoin make our offerings more accessible to the public […] but it will set us apart on an international scale […].” Hence, the acceptance of Bitcoin payments in African Universities could potentially attract international students. It is generally known that most Africans travel to Europe, Asia and other continents to pursue their education. But what if African Universities could create an educational environment that attracts students from these same continents. Who knows? Perhaps Bitcoin could be African’s chance to becoming an educational hub.