Half a million dollars-worth of bitcoin is being given away to undergraduates at the Massachusetts Institute of Technology spil part of a scheme to encourage use and awareness of the digital currency.
From yesterday, each MIT undergrad became eligible to voorwaarde $100 ter bitcoin (0.290272 BTC at press time) by completing a survey hosted by The MIT Bitcoin Project, the student organisation that is organising the giveaway.
However, students looking to obtain the free funds will have to hurry. The survey voorwaarde be ended before the scheme finishes on 2nd November.
The survey results will form part of a explore conducted by the organisers to promote the university spil a “global hub” for bitcoin research and business.
The MIT Bitcoin Project wasgoed announced ter April after two MIT students, Jeremy Rubin and Dan Elitzer, raised $500,000 from university alumni and members of the bitcoin community.
The fund-raising objective wasgoed to distribute the funds ter bitcoin to the more than Four,500 undergraduates enrolled at MIT to spur academic and entrepreneurial activity at the campus.
Spending the free coin
Students who receive the free bitcoin already have a duo of options if they want to spend them on campus. The university bookshop, for example, began accepting bitcoin last month. Textbooks, schoolgebouw supplies and an array of MIT-branded merchandise will be available for bitcoin purchasers.
Then there’s Fireflies, an application being developed by MIT students that will permit users to crowdsource goods and services for bitcoin. It won the ‘Awesome Award’ and a prize of $1,500 at the summer-long MIT BitComp, a contest to encourage the development of bitcoin-focused apps.
The Fireflies team told CoinDesk last month that it would concentrate on making its services more lightly available to MIT students, particularly to complement the planned bitcoin giveaway.
The MIT Bitcoin Club, where Elitzer is voorzitter, has also proved to be one of the most active chapters of the Collegium Cryptocurrency Network, a fast-growing group of student organisations focused on digital currencies.
“Spil one of the longest-standing CCN chapters, wij’ve bot ter the position of providing assistance to newer and prospective members,” Elitzer said, adding:
“Even however a loterijlot of students look to the MIT Bitcoin Club spil a prime example of a successful CCN chapter, they should realise that everything wij’ve done wasgoed built during the past year.”
The leader ter blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a rigorous set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests te cryptocurrencies and blockchain startups.