Australian University uses Ether to reward Students

 Did you get enrolled in this University or not yet? The Australian University of New South Wales (UNSW) is developing in partnership with LoyaltyX a blockchain loyalty research project, Unify Rewards.

What is Loyalty Reward and how does it work?

With this loyalty program, students from UNSW can earn Ether while using the Unify Rewards app. The students have to scan a barcode in this app that works as a digital wallet. When they arrive at 10 transactions, then, they will receive $5 Australian Dollars worth of Ether.This reward program started on October the 6th and will last until November the 20th Unfortunately, there was a limit in the amount of students able to participate. The platform accepted only 500 students from UNSW and the spots were all taken. The students will be able to transfer the funds to their personal wallets only when the program concludes.Students enrolled in the program can purchase gift cards, sell the Ether, exchange them with other students or wait until Ether price will rise in the future.“This is the first time a loyalty program allows members to transact across multiple retailers and earn a popular cryptocurrency which fluctuates based on market forces”, commented Andrew Lowe, Managing Director of LoyaltyX to CCN.

Countries are opening themselves to cryptocurrencies

Some countries are finding Blockchain technology and cryptocurrencies a way of increasing economic opportunities. Estonia, Denmark, Japan and Switzerland are friendly countries towards cryptocurrencies.Australia has also showed itself as a friendly country for crypto investors. The UNSW is not the only Australian University that issued academic credentials on a blockchain. The University of Melbourne did it earlier this month. In addition to it, the Australian Parliament gave green light to regulate bitcoin exchanges in the country, which grew significantly in 2017.
Source Article: UseTheBitcoin 

Source Photo: Insidebitcoins