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MIT’s BTC Project Will Disperse $100 in BTC in order to Each Undergrad

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MIT is getting seriously interested in bitcoin. Or at least two college students at the prestigious school are.

Jeremy Rubin (who studies computer science) and  Dan Elitzer (President of the MIT bitcoin club) have managed to raise a whopping half-million dollars in order to deliver bitcoins to every undergraduate student at the school.

In all, each student can get about $100 worth of bitcoin — a significant quantity — in what is being called an “ ambitious task aimed at creating an ecosystem for digital currencies with MIT”,

“ Giving students access to cryptocurrencies is analogous to supplying them with internet access at the daybreak of the internet era, ” said Mr. Rubin.

“ We decided to announce this project how to give students lead period. We want to issue a challenge to some of the brightest technical minds of a generation: ‘ If you step onto campus this particular fall, all of your classmates will have access to bitcoin; what are A PERSON going to build to give all of them interesting ways to use it? ” said Elitzer.

A majority of the funding for the project came from MIT alumni, with another chunk coming from the bitcoin community.

And while Rubin and Elitzer have no idea how students uses their bitcoin, the idea is to get them familiarized with the electronic currency.

Programs include holding workshops with well-known entities in the bitcoin space such as Gavin Andresen (chief scientist at the Bitcoin Foundation) and Sean Neville (CTO at Circle Web Financial).

At a school that is known for consistently  innovating in the tech-sphere, the move could be great long lasting for bitcoin.

Read the full announcement here.