New York Pre-School Chooses This Crypto Over Credit Cards

In News

New York is truly embracing this crypto!

Instead of accepting credit cards, these Montessori schools in New York chose Bitcoin! Does this mean that Bitcoin is now more valuable than credit cards? Well, it’s to early to take a general answer to that but one thing is certain, and that is Bitcoin truly starts becoming a valuable asset than credit cards to these two pre-schools in New York.

Check out the entire story below.

The head of two Montessori schools in New York won’t let parents pay by credit card – but he is accepting Bitcoin.

Marco Ciocca, co-founder and chairman of the Montessori Schools in Flatiron & Soho, added the option in June, after growing inquiries from parents.

The decision comes as an increasing number of places – including universities in London and Greece – take the digital currency as payment.

About 10 parents of the roughly 300 students have opted to pay in Bitcoin so far, Mr Ciocca said.

He predicts that number will rise in coming years.

“If we talk about just the sort of transactional ease… I think this form of payment will continue to grow,” he said.

Bitcoin is a digital currency that was first used in the real world in 2010. As acceptance has grown, so has its value.

Bitcoin’s worth has more than doubled since the start of the year and tops $2,500 (£1,900) today, according to CoinDesk, which tracks the currency.


Parents who invested early and have ridden the currency’s rise get something like a discount on the school’s hefty $31,000 tuition.

But Mr Ciocca said the school won’t profit from up-and-downs in the market. Tuition payments in Bitcoin – they also accept some other digital currencies – get converted to cash instantly.

The decision to accept digital currencies matched the schools’ identity as “forward-thinking” and appealed to a pool of families drawn from tech and finance worlds, Mr Ciocca said.

(Google and Facebook are among the firms with large offices not far from the schools.)

Bitcoin is also an easier way to process money than other kinds of payments, such as credit cards, he said.

“It’s just a much more seamless transaction,” he said.

More growth?

Mr Ciocca, who has followed the currencies for some time as an investor, plans to be part of that growth.

He’s working to offer the option to parents at two sister schools run by his family in Miami, Florida, in September.

Angela Ciocca, Mr Ciocca’s sister, is headmistress of the schools there. She said she’s not expecting a lot of takers.

“It hasn’t hit us yet,” she said. “But I do see it a lot when I go to Manhattan.”

via BBC

You may also read!

US State Governor Spiels Blockchain and Data Privacy During State Speech

US State Governor Spiels About Blockchain and Data Privacy During State Speech

Blockchain and data privacy are now given more emphasis due to the technology’s capabilities and the need to protect

Crypto Hub

Crypto Hub Will Soon Rise in South Korean City

The mass adoption of blockchain technology and cryptocurrency is gradually happening and it’s very evident in South Korea where

Palm Oil Industry

Malaysia’s Palm Oil Industry Incentivized with Blockchain

It seems like Malaysia is taking the most out of blockchain technology mostly for its palm oil industry. The


Leave a reply:

Your email address will not be published.

Mobile Sliding Menu