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THE STUDENT NEWSPAPER OF MANHATTAN COLLEGE | SINCE 1924
Volume XCVIX, Issue 11
FREE
NEW YORK, APRIL 9, 2019
Dollars On Dollars In 8 Places: The JasperCard Story Gabriella DePinho News Editor
NATIONAL CHAMPIONS
The Manhattan College Jasper Dancers won the national championship in Daytona, Fla., this past weekend in the Division I Hip Hop category. For coverage on their Send-Off, visit page 16. Nationals coverage will continue in next week’s issue. Congratulations! MARINA MULE / COURTESY
Group of Students Create ‘MunchCoin,’ A Cryptocurrency For Local Eateries Taylor Brethauer Senior Writer
A group of Manhattan College students have started their own entrepreneurial project and named it “MunchCoin.” The project utilizes cryptocurrency to serve local eateries and has slowly gained notoriety throughout the Bronx borough and Yonkers, N.Y. The project was started by Hunter Brea, a senior mechanical engineer, during his sophomore year with an official launch in February 2018 with the launch of the MunchCoin website. For Brea, he’s just keeping it in the family. “My love for cryptocurrency and the idea behind it is what really drove me to come up with my own cryptocurrency. I first just wanted to do it for the fun of it but after talking it over with my father who was also briefly interested in it I decided there should be a more noble reason and meaning behind it. Since my father
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is an entrepreneur, I decided to go the route of assisting small business which is the backbone of any efficient society,” said Brea. The name also came from a collaboration between Brea and his father. After throwing out different options, they settled on MunchCoin. The project was not a solo show for too long. “I later realized I would be a fool to go on doing this by myself. So I recruited a few of my friends that I deemed trustworthy and harding working enough to run this thing,” said Brea. Those friends included Chris DuBois, a senior electrical engineer in charge of technological development, Elvis Rodriguez, a senior economics and global business major serving as the chief financial officer, Gregory Urena, a junior business analytics and computer information systems major in charge of data analysis, Michael Fulton, a graduate from the class of 2018 serving as the chief technological officer and Stephen Serulle, a senior
IN FEATURES: Women’s Week Coverage on p. 10
marketing major acting as vice president of marketing. Serulle feels what they’re doing in the cryptocurrency field is relevant and important. “The team, including myself, are absolute food junkies who have entrepreneurial parents. We know how hard it is to create and sustain a business, let alone one in the food industry, which has recently become oversaturated,” said Serulle. But how is a cryptocurrency created? Serulle expands upon this. “Since we are a token, we took a slight shortcut; we are built on the Ethereum blockchain, that way we do not have to go through the extensive process of building our own blockchain,” said Serulle. A blockchain, based on a simple Google definition is “a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer__________________________ CONTINUED ON PAGE 5
It’s a typical Friday night, you’re hanging out with your friends and you get hungry. The solution to your craving is usually solved by a trip to a deli where you pull out your Jasper Card to get the sandwich of your dreams. This system seems so natural to students at Manhattan College, but in fact, this system has not been around for very long and is more complex than a midnight Benson from Best Deli and Grill. Charles Lippolis, the coordinator of the One Card office, started working on campus in 2011. Manhattan College originally had an off-campus dining program through a company called Off Campus Solutions. “When I first came [here], we used a company called Off Campus Solutions, OCS, but then they decided to move out of this business,” said Lippolis. The college had to find a new way to provide the same service to their students. Ken Waldhof, the director of business services, started working at the college in fall of 2013 and helped to bring this off-campus Jasper Card system to life. “The program started in the fall of 2014 so just going on about 5 years ago. When I first came to the college in September of [20]13, I had acclimated myself to the different areas and learned that we did not have an off-campus program at the time. Where I had worked previously, we had and it was fairly successful. The local merchants like it, of course,” said Waldhof. The program is managed through a third party called DishOut. According to DishOut’s website, the company was founded in 2011 and “immediately became a player in the closed-loop stored-value space with customers in a variety of verticals including higher education, hotels, ISOs, restaurants, and retailers.”
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DishOut only works with the off-campus locations. The on campus dining options that accept Jasper dollars and Dining dollars are managed through the One Card office. Waldhof said, “What they [DishOut] do is they provide the local merchants with the hardware and the connectivity to access our card system on a regular basis. They manage the relationship, they sign up the merchants and then they manage the accounting back and forth. We basically fund DishOut and DishOut, in turn, compensates the local merchants for the business that’s processed at their location using the Jasper Card and Jasper Dollars.” Lippolis works with DishOut in setting up the system. “My part of the technology is giving them a merchant number in our ID card system. The company DishOut sets them up with a card reader, kind of like a credit card reader and… it goes into a gateway or an API, that’s I think the term, basically to route all the transactions,” said Lippolis. “So if they swipe a card, it knows which account to debit the money from.” He continued. “We actually work with DishOut because they handle all the technology and provide the security once it leaves the college network. Security is the big benefit of DishOut,” said Lippolis. DishOut also helps the college expand the program. “DishOut themselves also has a team of people who they also visit the area a couple times a year and they’ll walk the neighborhood and see if there are any new merchants have opened up,” said Waldhof. Throughout the years, businesses have joined and left the program. Two of those businesses include Dunkin Donuts and Broadway Joe’s, a beloved pizza option for many students. “My assumption is that be__________________________ CONTINUED ON PAGE 5
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