25-06-2025
This college in Noida launched India's first blockchain campus currency
In a groundbreaking move towards fintech innovation in education, the Birla Institute of Management Technology (BIMTECH) has introduced a new blockchain-based digital currency, BIMCOIN. This initiative makes BIMTECH the first business management institute in India to launch such a currency, following the example set by IIT Madras. BIMCOIN is designed to facilitate secure, transparent, and instantaneous transactions across the institute's ecosystem, involving students, vendors, and LEARNING CENTREBIMCOIN not only serves as a payment solution but also as an educational tool, offering students a practical understanding of blockchain technology and digital currencies. This aligns with India's vision for Digital India and the Viksit Bharat 2047 initiative. The technology behind BIMCOIN ensures decentralisation, transparency and incorporates smart contract features, enhancing security, fraud protection, and ethical Prabina Rajib, Director of BIMTECH, remarked, "BIMCOIN is more than a payment solution; it is an educational instrument that facilitates our students with practical experience in blockchain technology and digital currencies, shaping their readiness for careers in fintech. "This is a significant step in nurturing a culture of innovation and preparing future leaders to thrive in a digital economy."PILOT SUCCESS AND FUTURE PLANS
The pilot phase of BIMCOIN witnessed remarkable success with over 1,100 seamless transactions. This phase addressed technical integration and user onboarding challenges through iterative testing and user training. The next steps involve further rounds of close-net testing before implementing the currency campus-wide. BIMTECH also plans to integrate blockchain technology into its academic curriculum, introducing courses on blockchain, fintech, and digital innovation. This approach underscores the institute's commitment to advancing education in financial AND VIKSIT BHARAT 2047advertisementIn developing BIMCOIN, BIMTECH draws inspiration from the Central Bank Digital Currency (CBDC) model, aiming to integrate blockchain technology into real-world applications. This initiative is part of a broader vision to prepare students for a digital economy by providing them with hands-on experience in cutting-edge financial tools. The creation of the Blockchain Learning Centre on campus further signifies BIMTECH's dedication to fostering a culture of innovation. This aligns with the institution's strategic move towards enhancing educational paradigms through practical exposure.- Ends
