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City of Santa Monica Launches Bitcoin Office, Plans October Bitcoin Open-Source Festival

AuthorSyed Ali Haider
Crypto News Author
Fact Checked by Wajeeh Khan
Last updated: August 10, 2024
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City of Santa Monica Launches Bitcoin Office, Plans October Bitcoin Open-Source Festival

Highlights:

  • Santa Monica’s Bitcoin Office launches to educate and create Bitcoin-related job opportunities.
  • The office will host the “Bitcoin Peer to Pier Festival” to boost local Bitcoin engagement.
  • El Salvador’s open-source Bitcoin Diploma and Wyoming’s Bitcoin research institute aim to promote education.

The City of Santa Monica, California, has launched a Bitcoin Office to provide education and identify economic opportunities related to Bitcoin, further solidifying its position as a hub for crypto innovation. In collaboration with Proof of Workforce, a nonprofit focused on Bitcoin education, the office aims to support the workforce, unions, and pension funds. The initiative, unanimously approved by the Santa Monica City Council on July 11, was officially introduced to the public with the launch of its webpage on August 8.

Santa Monica Bitcoin Office Focuses on Education and Economic Opportunities

The Bitcoin Office primary goal is to educate the local community, explore partnerships to support the city’s economic recovery, and identify Bitcoin-related career opportunities for residents and students. According to its X profile, the Bitcoin Office is “an education-based community initiative coordinated by the Proof of Workforce Foundation (Not Financial Advice).”

Despite generating enthusiasm, the initiative has also sparked concerns among some city officials. Council members have debated the potential legal and financial risks of promoting Bitcoin, ensuring that proper disclaimers are in place to protect the city from liability. The office’s webpage also includes a detailed disclaimer cautioning readers about the risks associated with cryptocurrency investments.

It reads:

“In addition to providing education, the Bitcoin Office’s mission is also focused on identifying and facilitating Bitcoin industry partnerships that actively support Santa Monica’s economic recovery and cultivate new employment opportunities.”

Founded in 2023 and led by Santa Monica firefighter and former union president Dominick Bei, Proof of Workforce is a nonprofit organization operating under 501(c)(4) tax status. Its mission is to empower workers, unions, and organizations by demonstrating how Bitcoin can enhance their goals and well-being.

Bitcoin Office to Host Open-Source BTC Festival in October

Alongside its educational initiatives, the Bitcoin Office is promoting the “Bitcoin Peer to Pier Festival,” set for October 18. This event follows a previously planned festival by Swan Bitcoin, which was originally scheduled for October 17 but was canceled due to staff reductions. Santa Monica’s new Bitcoin Office and the upcoming festival highlight the city’s commitment to integrating Bitcoin into its economic framework. These efforts reinforce its status as a forward-thinking tech hub in the “Silicon Beach” region.

Bitcoin Education Expands: New Programs in El Salvador and Wyoming

Last month, El Salvador’s Bitcoin education initiative, Mi Primer Bitcoin, announced the launch of its updated Bitcoin Diploma program, now featuring an open-source approach. Founded in 2021, Mi Primer Bitcoin started as a local educational effort aligned with El Salvador’s adoption of Bitcoin.

Global Bitcoin educators and enthusiasts actively contributed to the updated Bitcoin Diploma program. It offers a complete curriculum on Bitcoin’s history, technology, and uses. Notably, the program is now open-source, with all materials, including the Student Workbook, available for free on GitHub. This move aims to encourage worldwide collaboration and translation efforts.

Moreover, The University of Wyoming is launching the UW Bitcoin Research Institute, the first academic center focused on Bitcoin studies. Bradley Rettler, an Associate Professor of Philosophy and Bitcoin advocate, announced the institute on July 28. It will open in August for the 2024-2025 Fall semester.

Rettler will be its first director. The BRI aims to create Bitcoin research faculty positions, reward quality studies, and support young scholars. It will also offer workshops, connect Bitcoin researchers, and provide peer-reviewed research to journalists, policymakers, and the public.

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