Bitcoin, also known as “digital gold” or “programmable money” has been a taboo subject ever since its creation in 2009. It is a peer to peer payment system, invented by Satoshi Nakamoto, where each user can transact around with world without a traditional intermediary, such as a bank. Network nodes verify each transaction and record them in the Blockchain, which uses Bitcoin as its unit of account and miners keep the network secure, thus eliminating fraud.
Journalists wrote about “the death of bitcoin” after the fall of Mount Gox and subsequent drop in the price of a bitcoin from $1,400 to $400. Still, Bitcoin remains alive and well. There is more venture capital investment than ever before, surpassing the investment in the early days of the internet, and there are more businesses building the infrastructure to support the growth. For example, you can now send microtips over social media with ChangeTip and build decentralized applications on the Blockchain with Ethereum. Recently, governments in China, the United Kingdom, United States and Canada have announced their support of the technology.
McGill has its share of bitcoin enthusiasts, who have developed a thriving micro community on McGill campus. The charge is led by the McGill Cryptocurrency Club, who raised several thousand dollars in 2015 from Bitcoin companies to giveaway to students at two Bitcoin Airdrops, one during OAP Lite in April and the other during the following Frosh week, as well as other events hosted by the club. During both Bitcoin Airdrops, hundreds of students at McGill University received 30 mBTC ($7) each to promote bitcoin adoption on campus.
Already, several bitcoin businesses have been launched by members of the club, including AcceptBT – a payment processor started by a U4 Desautels student, Michael Gord and Jamie Robinson to join the QuickBT network. The community on campus has encouraged faculty organizations including Gerts and the McGill Alumni Network as well as student groups such as McGill Make a Wish Foundation, Students for Save a Child’s Heart and Centraide McGill to accept bitcoin through AcceptBT.
AcceptBT enables organizations to accept bitcoin and eliminate their volatility risk of receiving bitcoin and the price dropping. With AcceptBT software, the bitcoin is immediately converted into Canadian dollar and 100% of the amount is deposited directly into the organizations bank account or e-mail transferred to them, at no cost. The McGill Cryptocurrency Club hosted a BitCrawl (Bitcoin Pub Crawl) in November and set up several venues on St Laurent to accept Bitcoin with AcceptBT including Blue Dog, Luwan and Ivy. The AcceptBT team is confident their software will stimulate more student organizations and merchants in Montreal and beyond to accept bitcoin.
Does this sound exciting? As it happens, AcceptBT has an open position for Operations and Account Manager. If you feel that you want to get first- hand experience working in a fast-pace start-up in an exciting industry by leading the development and implementation of company strategy, then highly consider applying to the position. Your responsibilities will include:
- Being a point of contact for businesses, charities or other organizations that accept bitcoin with AcceptBT
- Attending to every operational task involved in setting up a new account with AcceptBT, and proactively anticipate any changes in normal requirements or activities
- Developing and growing the company alongside its founders in a close-knit team with a large vision.
If you think you are the right person for the job, please don’t hesitate to contact: [email protected]