- As the first educational institution in the Middle East to accept cryptocurrency as a payment method, Citizens School – an educational institution developed, designed, and conceived in the UAE – accepts cryptocurrency as a payment method.
- Citizens School will accept payments using the two major cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), when it opens in September 2022. Citizens School will also offer the option of interest-free monthly payments and traditional forms of payment.
The payment system accepts cryptocurrency payments via a digital currency platform that converts cryptocurrency payments into Dirhams (AED).
Following the adoption of Dubai’s first law regulating virtual assets, the government of Dubai has decided to move towards cryptocurrency payment options. It will ensure an advanced legal framework protects investors. Citizens School is positioned to assist the UAE in cementing its position as a leader within the global digital economy. The nation strives to become a global hub for cryptocurrency.
A crucial part of its goal is to provide quality education for a diversified knowledge economy aligned with the UAE Centennial 2071. As an incubator for innovation and entrepreneurship, the school aims to develop ideas created by children themselves.
In the past, cryptocurrency was only a term known to well-versed investors, according to Dr. Adil Alzarooni, Founder of Citizens School. Nevertheless, the mainstream adoption of cryptocurrency is reshaping the way traditional financial systems are run. In a similar vein, Citizens is transforming the education sector by reimagining every element of the learning experience – from how children learn to how teachers are equipped to mentor, from what learners wear to how parents pay tuition.
They aim to enhance the role of young generations in achieving a digital economy in the UAE by introducing this new payment method. With more people embracing the era of digitalization, today’s children will become the entrepreneurs and investors of tomorrow.”
He added, “Providing students with cryptocurrency payment options goes beyond just providing another option for paying tuition fees.”
Hisham Hodroge, CEO of Citizens School added, “We are providing students with an opportunity to learn about emerging trends and cutting-edge technologies that will profoundly impact their lives in the future.”. Furthermore, it further drives interest in Blockchain, which Citizens School plans to implement across many academic and administrative aspects.”