Bitcoin (BTC)


The City of Santa Monica made history by opening an authorities Bitcoin office. The city board all voted to pilot the office in collaboration with the not-for-profit Proof of Workforce at no charge to the city.

The office has 4 crucial objectives, according to the PR sent out to us: offering Bitcoin education, helping with collaborations and conferences to grow tourist, linking citizens to tasks, and checking out sustainable Bitcoin mining powered by the city’s renewable resource.

Vice Mayor Lana Negrete, who promoted the effort, stated, “As we embark on a journey to learn Bitcoin in Santa Monica, I’m excited to see the following ideas. Bitcoin is for everyone!”

Santa Monica is following the design of El Salvador, which ended up being the very first nation to embrace Bitcoin as legal tender in 2021. Since then, El Salvador has actually opened a Bitcoin office and drew in substantial financial investment and tourist associated to Bitcoin.

By welcoming Bitcoin, Santa Monica wishes to reproduce some of this success. The city has a yearly spending plan of $700 million and invited 4.5 million visitors, investing almost $1 billion in 2023.

Some other current Bitcoin advancements in Santa Monica consist of firemens embracing self-custody of Bitcoin and city leaders going to El Salvador to study its Bitcoin adoption firsthand.

As more locations like Santa Monica check out Bitcoin, it verifies the growing view that cities and nations can acquire a benefit by placing themselves as Bitcoin-friendly locations.

Dom Bei, Founder of Proof of Workforce, stated: “The future of Santa Monica is bright orange!” On Wednesday, he prepares to present a unique Bitcoin visual on the Santa Monica Pier to commemorate the city’s brand-new Bitcoin effort.

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