USC creates its own cryptocurrency
USC created its own cryptocurrency, called USC, to help finance its operations. The coin is designed to be used as a medium of exchange on the USC network and to provide rewards to users for contributing to the network. The first batch of coins was released in early September 2018.
USC to launch new cryptocurrency
The University of Southern California (USC) will launch a new cryptocurrency known as USC Coin, which it hopes will become the "standard currency" for transactions on campus.
USC Coin will be backed by real estate and other assets, and it will be used to purchase goods and services on campus. The university plans to use the cryptocurrency to reduce costs associated with transactions and to increase transparency and security.
"USC Coin will provide a new way for students to pay for goods and services on our campus," said USC President C. L. Max Nikias in a statement. "It's an exciting step forward in helping us to modernize how we operate and to create a more efficient and sustainable campus."
The launch of USC Coin marks the latest effort by universities across the United States to develop their own cryptocurrencies. In February, Duke University announced that it was launching a cryptocurrency called DukeCoin. Other universities that have launched their own cryptocurrencies include Massachusetts Institute of Technology, Cornell University, and the University of Texas at Austin.
USC students to receive cryptocurrency
USC students will be able to use cryptocurrency to pay for goods and services starting this fall.
The University of Southern California has partnered with BitPay, the world’s leading bitcoin payment service, to allow students to use bitcoin to purchase goods and services on campus.
“USC is committed to being at the forefront of innovation and technology, and this partnership with BitPay provides our students with an exciting new way to pay for goods and services on campus,” said USC Executive Vice President and Provost Michael Drake.
BitPay co-founder and CEO Tony Gallippi said: “USC is a world-class university and this partnership allows students to use bitcoin in a safe and secure manner. We are excited to work with USC and help them make payments easier and more convenient for their students.”
USC will initially allow students to use bitcoin to purchase items in the USC bookstore, as well as dining services offered by The Trojans Dining Company.
USC professors to receive cryptocurrency
donations
USC professors will be able to accept cryptocurrency donations from their students starting next semester.
The University of Southern California announced on Tuesday that professors will be able to accept donations in bitcoin, bitcoin cash, ethereum, and litecoin.
“USC is now one of the first universities to offer this type of donation option to its faculty,” said USC interim vice president for finance and business operations Anna Maria Cardenas. “This new way of donating allows our professors to receive support from their students in a new and innovative way.”
Cryptocurrency donations are becoming increasingly popular as a way to support causes and organizations. Earlier this year, the University of California, Berkeley announced that it was accepting donations in bitcoin, bitcoin cash, ethereum, and litecoin.
USC staff to receive cryptocurrency
The University of Southern California has announced that its staff will be able to receive cryptocurrency starting in 2019.
USC is one of a number of major universities to announce plans to offer cryptocurrency and blockchain courses in 2019.
USC’s vice president for business and financial affairs, Pat Haden, said that the university was “very excited” about the new initiative.
Haden added that the move would give USC staff “access to the latest financial technology”.
Other universities that have announced plans to offer cryptocurrency and blockchain courses include the Massachusetts Institute of Technology (MIT), Stanford University, and Yale University.
USC to use cryptocurrency
The University of Southern California is considering using cryptocurrency to pay for goods and services. The idea is that the cryptocurrency would be used by students and staff to buy goods and services on campus. This would reduce the need to carry large sums of cash on campus.