Hack UVA college student winners get 1 million EDUcoin Cryptocurrency Donation
College Students Receive First Digital Money
Creator of EduCoin donates 1-million digital coins to hackathon
Charlottesville, VA — In addition to free T-shirts, corporate swag, and prize money, Hack UVA, the first hackathon held at the University of Virginia, became the first in the nation to give out rewards in the form of digital currency.
Four winning teams received a total of 1-million EduCoin, a digital currency for education. With the stroke of a keyboard and the click of a mouse, digital funds moved instantly from one electronic wallet to another without a single bank account in the loop.
A novel application of bitcoin technology, EduCoin aims to become the standard digital currency for payments across the education economy.
EduCoin’s new owners will one day be able to spend their digital coins around campus and online.
If they are short on cash, as college students frequently are, they can always crowdfund next semester with a QR code or a shared wallet address. Just last December a student held up a sign asking mom for bitcoins and he ended up receiving over $24,000 in bitcoin donations from anonymous strangers.
The possibilities with EduCoin are endless compared to the age-old dilemma of cash: you have it or you don’t.
EduCoin’s creator says digital currency reminds us of the college students a generation ago, those who first used e-mail, downloaded peer-to-peer files, and chatted on instant messenger.
“We spend so much of their lives as students,” he noted at the event. “I’m certain early adopter students will find immediate uses for EduCoin and we’ll never look back.”
With many of the student hackers bound to work for startups and tech giants like Google after graduation, Edumoto expressed confidence that bitcoin and educoin would advance rapidly toward the mainstream.
“I see this hackathon as a milestone event. Our education is the first startup we work on, and I’ve found a modern way to help fund it.”
EduCoin is the bitcoin-based digital currency for education. EduCoin is becoming the standard for electronic transactions in the education economy. Find out more about EduCoin, the digital currency for students, educators, and third parties at www.educoin.cc.
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— HackRU (@theHackRU) April 17, 2014
— CryptoBubbly (@chizie) April 17, 2014
More information listed on Reddit about the HackRU donation can be found here.