Saturday’s Georgia Tech-Miami game will make history regardless of the outcome. It will be the first college sporting event where concession sales can be made using bitcoin.
Tech has entered into an agreement with BitPay, the world’s leading bitcoin payment processor, to integrate bitcoin payments into stadium concession sales at Bobby Dodd Stadium and McCamish Pavilion as well as the school’s student dining and shopping credit system. Tech is the first university in the world to do so, according to a news release from the school.
Bitcoin is a virtual currency created in 2009 in which transactions are made online. Bitcoins can be acquired as payment for goods or services, through purchase at a bitcoin exchange, through trading with other or through something called competitive mining. Bitcoin point of sale devices will be located in the Bobby Dodd Stadium student section. The Barnes & Noble store in Tech Square will host a bitcoin-enabled point purchase terminal. Students will be able to make purchases using bitcoin across campus.
“We look forward to working with BitPay to make bitcoin a viable payment option for our students and fans,” Georgia Tech athletic director Mike Bobinski said in a statement. “At Georgia Tech, we are always looking to lead in innovative ways, and this partnership with BitPay gives us an opportunity to do so by integrating this new technology at a sports venue and in the daily lives of our students.”