The Bitcoin Embassy and the McGill Cryptocurrency Club from Montreal, recognise a barrier to the adoption of Bitcoins and they are doing something about it. They have come up with a non-profit project called “The McGill University Bitcoin Airdrop.” The aim of the project is to promote the adoption of Bitcoin usage on campus and eventually beyond. But first, here is a question.
- Question: What is the biggest barrier that exists in adoption of Bitcoin?
- Answer: It is not just one factor. There are two factors at play.
- Getting a wallet [logistics barrier]
- Getting the first few mBTC in the wallet. [motivational barrier]
After this point, we all start using Bitcoins one way or another and become good at it. To become active members of the Bitcoin users community is what the McGill Cryptocurrency Club wants for its students.
Author Note: This is a visionary move. Considering the fact that by 2025, 75% of the World’s working population will be the Millennials, it sure seems to be a brilliant move to get the millennials to adopt cryptocurrencies early on. And what better place to catch them young than a University?
“many of the students who are interested in learning more about Bitcoin lack the resources and incentives necessary to further inform themselves on what Bitcoin is and how to use it. In an attempt to garner interest in the budding cryptocurrency and promote its use on campus, the McGill Cryptocurrency Club and the Bitcoin Embassy have joined forces to carry out an educational and promotional campaign in the form of a “Bitcoin Airdrop” on campus.”
— Says the first few lines of the shared Google Document by McGill Cryptocurrency Club.
You can find the link to the Google Shared Document at the end of this article.
How is the McGill Cryptocurrency Club doing this Bitcoin Airdrop?
McGill Cryptocurrency Club is about to give 30 mBTC each to around 600 students. That is around 600 wallets. The Dollar equivalent of $10 in Bitcoin is loaded onto a paper wallet sealed in an envelope. The public key is printed on the outside. McGill comments that this way the recipients can feel the immediate gratification of owning a slice of a Bitcoin.
MIT had a similar Bitcoin Airdrop project months earlier where students that signed up received $100 worth of Bitcoin each; however, McGill is looking at $10 worth of Bitcoin, as the project is largely supported by smaller donors and crowdfunding. McGill has raised $3000-$6000 currently, the proceeds from which will be strictly put to the following uses.
- Production costs for the wallets
- The content of the wallets (BTC)
Who are the Sponsors? Can the General Public Sponsor?
The McGill Cryptocurrency Club is raising funds and is keenly looking at the Bitcoin based companies as potential powerful sponsors for the community strengthening project. The companies sponsoring $750 and above get a logo space on the envelope as a part of the sponsorship perk. However, in the shared document it is made clear that this is a “from the community, for the community” approach. So the answer is YES, the general public can sponsor through Bitcoins.
For the wallet address and the contact details, you can refer to this shared Google Document from McGill Cryptocurrency club.
We had covered other initiatives aimed at adoption of Bitcoins by wider audience. It is worthwhile to take a look back at them, just in case you had missed.
Images from Bitcoin Embassy Website and Author’s Rendition of Bitcoin and AirDrop (CC).