Today (August 28), SFU made its first official foray into Bitcoin, announcing it is now accepting donations with the digital currency.
That makes it the first Canadian postsecondary school to take donations in this manner.
Alumnus Scott Nelson, cofounder of dana.io, and Simon Fraser Bitcoin Club president Mike Yeung are SFU's first Bitcoin contributors, donating the equivalent of $6,000.
“We are embracing Bitcoin because it is innovative, open source, entrepreneurial and fits well with SFU's mission to engage the world,” Yeung said in an SFU news release.
“Bitcoin can be moulded in ways that can benefit people (in every part of the globe and every segment of society) in many ways,” Yeung, who is also the founder and CEO of Saftonhouse Consulting Group, added. “And those benefits can only be realized when Bitcoin is driven by community efforts and the passion of those with vision and determination – the very traits that SFU breeds and supports.”
SFU students Laurie Macpherson and Lauren Shandley will use the money from the first Bitcoin donation for their humanitarian co-op project in India. They will work with a social enterprise that helps girls who are victims of human trafficking.
The university has added a "Donate with Bitcoin" option to its "Ways to Give" page. Bitcoin donors must fill out a separate form in order to receive a tax receipt.
SFU is using BitPay to process its Bitcoin donations.