The City of Santa Monica has launched a Bitcoin Office to advance education and explore economic opportunities related to Bitcoin. This move further strengthens the city’s leadership in crypto innovation.
Initiative Approved Unanimously by City Council
On July 11, the Santa Monica City Council unanimously approved the initiative. The public was informed about it through the launch of the official webpage on August 8.
Collaboration with Proof of Workforce
The office is working in collaboration with Proof of Workforce, a nonprofit that focuses on providing Bitcoin education to the workforce, unions, and pension funds.
Main Goals of the Bitcoin Office
The primary goals of the Bitcoin Office are to educate the local community and explore partnerships. These partnerships aim to boost the city’s economic recovery. The office also seeks to identify career opportunities related to Bitcoin for residents and students.
Addressing Concerns and Managing Risks
While the initiative has generated excitement, some city officials have raised concerns. They discussed the legal and financial risks associated with promoting Bitcoin. To address these concerns, they emphasized the importance of including appropriate disclaimers to protect the city from liability. Moreover, the office’s official webpage stresses the need to understand the risks associated with crypto.
About Proof of Workforce
Proof of Workforce was established in 2023. It is led by Santa Monica firefighter and former union president Dominick Bei. This nonprofit, which operates under a 501(c)(4) tax status, aims to empower workers, unions, and organizations. It helps them understand how Bitcoin can support their objectives and well-being.
Promoting the Bitcoin Peer to Pier Festival
In addition to its educational efforts, the Bitcoin Office is promoting the upcoming “Bitcoin Peer to Pier Festival,” scheduled for October 18. This event continues the plan of a previously scheduled festival by Swan Bitcoin. The original event, set for October 17, was canceled due to staff reductions.
Santa Monica’s Ongoing Commitment to Bitcoin
Santa Monica’s new Bitcoin Office and the planned festival highlight the city’s commitment to integrating Bitcoin into its economic framework. This effort reinforces its status as a forward-thinking tech hub within the “Silicon Beach” region.
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