BIMTECH is one of the premier business schools in India and it has lately hit the headlines by launching India’s first blockchain-based campus currency BIMCOIN. BIMTECH is setting new standards for fintech integration in educational institutions. BIMTECH is now the second institution in India to introduce such a futuristic initiative after IIT Madras. BIMCOIN is designed for the BIMTECH ecosystem and allows seamless, secure as well as transparent transactions among students, vendors and administrators.
BIMCOIN offers more a payment solution and also provides the students a chance to gain hands-on experience in blockchain technology, digital currencies and evolving world of financial systems. BIMTECH Director Dr. Prabina Rajib said that the new currency is an essential tool for smooth transactions and also a valuable educational instrument. It is to offer the students some real-world insights into the digital currency landscape.
The initiative is inspired by Viksit Bharat 2047 vision of the government. It has also been inspired from the Central Bank Digital Currency (CBDC) and other such models. The use of blockchain ensures decentralization, enhanced transparency and security.
It is in a pilot phase and witnessed more than 1,100 transactions. This highlights the potential of BIMCOIN to revolutionize payments within academic ecosystems. There are some challenges to overcome and these include technical integration and user onboarding. BIMTECH is also incorporating blockchain technology into its academic syllabus.
The pioneering efforts is driven by the vision of its founders Late Basant Kumar Birla and Sarala Birla. It is showcasing the dedication in creating leaders of tomorrow equipped with its innovative programs like PGDM, PGDM-International Business, PGDM-Retail Management and PGDM-Insurance Business Management.
BIMTECH has lately received an accreditation by the AACSB and this further raises its status among the world’s top business schools.
