As the number of Bitcoin users continues to grow exponentially, more and more companies are turning to cryptocurrencies as a viable payment method. Some of these businesses include: Tesla, Overstock, Microsoft, Expedia, Wikipedia, Lionsgate Films, and more. Although the tech industry still dominates in Bitcoin usage, other more “conventional” fields are beginning to adopt it as well, such as the tutoring industry.
When you talk about cryptocurrencies, the first people to come to mind might be online hackers and edgy millennials; when you talk about education, the first people to come to mind might be traditional schoolteachers and technologically-inept parents. But for the first time, a company based in Los Angeles is bridging the gap between these two seemingly contrasting fields. LA Math Tutoring is the world’s first in-home private education agency to begin utilizing cryptocurrencies for receiving payments from their students and sending payments to their teachers.
As one of California’s top rated tutoring companies, LA Math Tutoring provides private tutoring to students of all ages and grades, with one-to-one and group lessons, for SAT and ACT test prep, as well as general academic support. Though the company focuses primarily on math tutoring, they also offer lessons for subjects in reading, writing, social studies, science, and more. In addition to processing payments with credit, debit, and PayPal, the company now also accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
While these virtual currencies provide businesses and customers with lower fees, faster transactions, and more flexibility, there’s more to the equation than these benefits. A Harvard Business Review article explains blockchain technology – the mechanism behind Bitcoin and other cryptocurrencies.
Among those who believe in the power of this emerging technology is David Jia, the founder of LA Math Tutoring:
“Acing tests and getting straight A’s are great, but more importantly, I want to see my students become leaders, entrepreneurs, and innovators. Education isn’t just about solving homework problems. It’s about learning to apply critical thinking skills and creative imagination for solving world problems. And now, blockchain technology is another valuable resource that’s available.”
Aside from LA Math Tutoring, a few other web-based start-ups, such as NTOK and Botangle, have started using cryptocurrencies for online courses and video lessons. Meanwhile, blockchain technology and cryptocurrencies are starting to be taught at a few top universities, such as Stanford University, Princeton University, Cambridge University, the Massachusetts Institute of Technology (MIT), Cornell University, Duke University, Johns Hopkins University, and the University of California, Berkeley.
Over time, the use of virtual currencies will certainly continue to expand and eventually become commonplace. The question is… when?