A public university in the city of Sibiu, Romania has announced the acceptance of tuition fee in cryptocurrency. The university, Lucian Blaga, has a student body of around 11,000 and the tuition fee per student, on average, in around $1,000 annually. Students can now pay their tuition fee in Elrond (EGLD) which the university will then convert to the Romanian currency.
Elrond is a network for decentralized apps but with a focus on increased scalability, efficiency and security. The block chain was launched in 2017 and is headquartered in Romania. Elrond also has multiple office in the country and employs graduates from the local university.
The partnership was reached in an effort to support the Elrond network. The university, Lucian Blaga, has been a strong supporter of local communities and businesses and the university has announced that the partnership with Elrond is aligned with their mission.
Elrond has had a few major developments like the launch of the mainnet. The cryptocurrency has been one of the well-performing ones in the current bull run, going up from around to $25 to $232 – at the time of press. The news could prove to be vital for Elrond’s upcoming price developments.
The bull run of 2021 has bought the cryptocurrency market under a spotlight with many people realizing the potential that the block chain technology carry. Mass adoption of cryptocurrencies will become a reality if institutions continue to incorporate cryptos at the current rate.