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You have probably tried cross-border payment with cryptocurrency and perhaps even purchasing physical goods with the digital currency, but how about paying your tuition or your kids’ own without using cash.
One Dubai school is offering a convenient and cashless way of paying school fees, and what better way to improve crypto adoption in the Emirate’s capital than by improving the ease of paying for education.
From one of the region’s trusted news outlets, citizen schools in Dubai will give an alternative method of paying for tuition using either Bitcoin or Ethereum. They don’t plan to hold these assets for long, though, as they will be converted to Dirhams, Dubai’s official currency, through an unnamed source.
The founder of the school, Dr. Adil Alzarooni, remarked on the revolutionary development by saying they plan to give Dubai children a chance at the growing digital economy, and the method they have outlined is trying to get their parents to increase their use of cryptocurrencies. Naturally, the children will be drawn too.
In addition to what the school’s founder said, the CEO explained that the plan does not involve only paying through another cryptocurrency; it is a step towards inclusive blockchain development in the country. And the citizens school is looking to leverage the blockchain technology in as many openings as possible.
The new education hub in the UAE, designed by Al Zarooni Emirates Investments and coming soon enough to open its doors for students, is called ‘CITIZEN School’s. This visionary school has everything you need: A teacher training foundation; an excellence center where they can explore their passions or develop skills more deeply through workshops provided there too, such as leadership programs etc.; plus K-12 facility where children will be given opportunities not only academically but also extracurricular like sportsmanship which helps build character needed later down life’s road.
The Citizens’ Tapestry is an education system that will transform your child’s life. It creates a custom curriculum based on the UK National Curriculum, with six key threads – Mindset; Entrepreneurial Studies (to prepare children for economic success); Health & Wellness Education: Healthy Living as well Fitness and Leisure Services such diets or fitness programs which include health assessments to understand their nutritional needs better so they can be healthier adults who lead healthier lives both environmentally but also physically too! The program features sustainable leadership skills such as those taught by John Hattie and Matthew Syed.
The groundbreaking school campus for 2,600 students between 3-18 years old is twice the size of other schools in its catchment area and has been curated to promote wellness as well as imagination.
The new approach from The Citizens’ 43kmsquare meters thoughtful curation will enable all young people, regardless if they are struggling or gifted learners; be able to thrive academically while also thriving emotionally & socially.
Dubai’s ever-growing involvement in crypto
The United Arab Emirates is expected to become one of the world’s most crypto-friendly jurisdictions by 2020. The move toward federal licenses for virtual asset service providers (VASPs) could be an indication that they have their eyes set on joining this list and becoming a top-ranked country in terms innovation, finance & technology
The United Arab Emirates is a federal country consisting of seven emirates. Each Emirate has its own ruler, but they all answer to the federal government in Abu Dhabi for financial matters and SCA (UAE Central Bank), which defines regulations on how those funds should be used or invested.
The free zones – known as “free trade areas” within this region-are, granted some autonomy when creating their own laws because it’s believed that having different rules across borders will help stimulate business growth among companies from various backgrounds.
Truth is, there are already 30 VASPs operating in the country’s free zones. The Dubai Multi Commodities Center (DMCC) has an overwhelming number of them ( 22).
In a world where the dominance of countries like America and China is causing many to worry about centralized governments’ ability to stay ahead in technology, one country has taken matters into their own hands. By creating blockchain initiatives at an industrial level, they are able not just to keep up with innovation but actually lead it!
The people who live there know that relying too heavily on any single source of wealth, oil, in this case, can be risky, so the UAE is creating a conducive economy for positioning itself ahead of the world.
Dubai has also been very friendly to crypto exchanges. We have seen FTX receive a virtual asset exchange license; one will allow it to expand down east in Dubai. Although this is still the first of its kind, we expect to see many developments in crypto acceptance, and who knows, growing exchanges like Redot.com might soon get their license to expand to the UAE.
Since Citizens school will be accepting Ethereum payments, you can see details of the transactions on the Ethereum Block Explorer. It just remains to be seen how they want to bypass huge gas fees. Probably, they are just setting structures in place for Ethereum 2.0.