世界各地的大学都在从加密货币热潮中获利——但他们能承受风险吗？

2023 年，韩国视频游戏公司 WeMade 承诺向首尔国立大学捐赠相当于 10 亿韩元的 Wemix 代币（一种与同名区块链平台相关的加密货币）。

Korean regulators are reportedly considering allowing the country’s universities to convert cryptocurrency for the first time, potentially opening a significant new fundraising stream for the country’s financially ailing sector.

据报道，韩国监管机构正在考虑首次允许该国的大学转换加密货币，这可能会为该国陷入财务困境的行业开辟一条重要的新筹款渠道。

Institutions elsewhere are already cashing in on the crypto craze, with the University of Pennsylvania receiving $5 million (£4 million) in bitcoin from an anonymous donor in 2021. A year later, Vitalik Buterin, co-founder of leading blockchain Ethereum, donated the equivalent of $9.4 million in USDC coin to the University of Maryland to fund public health research in the wake of the pandemic.

其他地方的机构已经从加密货币热潮中获利，宾夕法尼亚大学在 2021 年从一位匿名捐赠者那里收到了 500 万美元（400 万英镑）的比特币。一年后，领先区块链以太坊的联合创始人 Vitalik Buterin 捐赠了向马里兰大学捐赠相当于 940 万美元的 USDC 硬币，用于资助大流行后的公共卫生研究。

The Giving Block, a US-based platform that facilitates cryptocurrency donations to non-profit organisations, said that the higher education sector has been one of its “biggest growth areas” over the past two years, with clients including Washington State University and Northeastern University.

The Giving Block是一家总部位于美国的平台，致力于向非营利组织提供加密货币捐赠，该平台表示，过去两年，高等教育领域一直是其“最大的增长领域”之一，客户包括华盛顿州立大学和东北大学。

“There are several things driving this, like the booming crypto market and broader mainstream adoption, but the biggest driver for schools is simply following the money,” said Pat Duffy, co-founder of the platform.

该平台联合创始人帕特·达菲 (Pat Duffy) 表示：“推动这一趋势的因素有很多，比如加密货币市场的蓬勃发展和更广泛的主流采用，但学校最大的推动力只是追随金钱。”

With analysts suggesting popular currencies like bitcoin will continue to grow in value this year, spurred on by newly inaugurated Donald Trump’s crypto-friendly rhetoric, universities could be set to benefit – if they are prepared to manage the risks that come with the volatile landscape.

分析师表示，在新上任的唐纳德·特朗普对加密货币友好言论的刺激下，比特币等流行货币今年将继续升值，如果大学准备好管理动荡环境带来的风险，他们可能会受益。

“For donors in the US, the biggest driver is the tax incentive,” said Duffy. “You can skip capital gains taxes on appreciated assets and still get a deduction for the full market value.

“对于美国的捐助者来说，最大的推动因素是税收优惠，”达菲说。 “你可以跳过升值资产的资本利得税，但仍然可以获得全部市场价值的扣除。

“The donor pays no taxes on their appreciated crypto, and neither does the school. Donors across the country are eliminating tens of millions of dollars in tax liability by choosing to give with crypto, and giving larger gifts…as a result.”

“捐赠者无需为其升值的加密货币缴税，学校也无需缴税。全国各地的捐助者通过选择用加密货币捐赠并赠送更大的礼物来消除数千万美元的纳税义务......结果。”

For universities, accepting cryptocurrency may also allow them to target their fundraising at a younger, tech-savvy market. “They can attract more people if they accept crypto payments,” said Nir Kshetri, professor of management at the University of North Carolina.

对于大学来说，接受加密货币也可能使他们能够将筹款目标瞄准更年轻、精通技术的市场。北卡罗来纳大学管理学教授 Nir ​​Kshetri 表示：“如果他们接受加密货币支付，就可以吸引更多人。”

Institutions are not only capitalising on crypto donations. Some, such as Bentley University, have begun accepting tuition fees in cryptocurrency, which could have significant implications for international students.

机构不仅利用加密货币捐赠。本特利大学等一些大学已经开始接受加密货币学费，这可能对国际学生产生重大影响。

For example, converting the naira to the US dollar to make fee payments can be a complicated process for students in Nigeria. According to Kshetri, paying in decentralised cryptocurrency is simpler and faster for some.

例如，对于尼日利亚的学生来说，将奈拉兑换成美元来支付费用可能是一个复杂的过程。 Kshetri 表示，对于某些人来说，使用去中心化加密货币支付更简单、更快捷。

However, a key risk for universities is the unpredictability of cryptocurrency markets, which has been compounded by bitcoin’s volatility in recent years. While the market is recovering, crashes such as the one experienced in 2022 have left a lasting impact and made some universities wary.

然而，大学面临的一个主要风险是加密货币市场的不可预测性，近年来比特币的波动加剧了这一风险。虽然市场正在复苏，但像 2022 年经历的那样的崩盘留下了持久的影响，并使一些大学保持警惕。

“Right now it’s at a peak, but who’s to say we won’t see a return to what we saw two years ago when the bottom fell out?” cautioned Bill Stanczykiewicz, director of the Fund Raising School at Indiana University Indianapolis.

“现在正处于顶峰，但谁能说我们不会看到两年前触底时的情况呢？”印第安纳大学印第安纳波利斯分校筹款学院院长比尔·斯坦奇凯维奇 (Bill Stanczykiewicz) 警告道。

According to Stanczykiewicz, best practice is to avoid holding on to cryptocurrency, even if it is predicted to increase in value. “What we say to fundraisers is if you get crypto, turn it into your national currency as quickly as you can,” he said, or use a platform like the Giving Block, which does this for you.

Stanczykiewicz 认为，最佳做法是避免持有加密货币，即使预计它会升值。 “我们对筹款者说的是，如果你获得了加密货币，请尽快将其转换为你的国家货币，”他说，或者使用像 Giving Block 这样的平台，它可以为你做到这一点。

However, this approach isn’t universal. In Paraguay, Universidad Americana is less risk averse than some, evaluating the market before converting any cryptocurrency payments.

然而，这种方法并不通用。在巴拉圭，美洲大学比其他大学更不愿意规避风险，在转换任何加密货币支付之前都会评估市场。

Universities considering going down this avenue also need to consider the ethical aspects, said Stanczykiewicz, and whether such donations adhere to their institution’s values.

斯坦齐凯维奇表示，考虑走这条路的大学还需要考虑道德方面，以及此类捐赠是否符合其机构的价值观。

Specifically, the environmental impact of currencies like bitcoin is a concern for some. However, Kshetri argued, the coin has already been mined prior to the donation – that is, the damage has already been done.

具体来说，比特币等货币对环境的影响是一些人担心的问题。然而，Kshetri 辩称，该代币在捐赠之前就已经被开采——也就是说，损害已经造成。

“Just to transfer that bitcoin from you to me consumes very little…electricity,” he said.

“仅仅将比特币从你那里转移给我只消耗很少的……电力，”他说。

Whatever your ethical view, those interviewed for this article agreed on this: cryptocurrency is here to stay and, for universities, it’s simply a question of how quickly they embrace it.

无论您的道德观点如何，本文受访者都同意这一点：加密货币将继续存在，对于大学来说，问题只是他们接受它的速度有多快。

“Historically, it was regulatory uncertainty that made universities nervous about crypto acceptance and investing,” said Duffy. Today, he continued, in the US, “regulatory clarity and the political support we see on both sides of the aisle have cleared up those concerns”.

达菲说：“从历史上看，监管的不确定性让大学对加密货币的接受和投资感到紧张。”今天，他继续说道，在美国，“监管的明确性和我们在两党看到的政治支持已经消除了这些担忧”。

With countries like South Korea set to provide a regulatory green light too, it may not be long before institutions around the globe follow in the footsteps of their US counterparts.

随着韩国等国家也准备提供监管绿灯，不久之后全球各地的机构就会效仿美国同行的脚步。