Key Takeaways
- Santa Monica has partnered with Proof of Workforce to provide Bitcoin education and explore economic opportunities.
- The initiative was unanimously approved by the city council and comes at no cost to the city.
- Santa Monica aims to replicate El Salvador's success in attracting Bitcoin-related investment and tourism.
Santa Monica has launched an official Bitcoin office in partnership with Proof of Workforce to educate the public and explore economic opportunities related to Bitcoin. This initiative, unanimously approved by the city council, comes at no cost to the city.
The office aims to provide Bitcoin education, foster tourism through partnerships and conferences, connect residents to job opportunities, and explore sustainable Bitcoin mining using the city’s renewable energy. Vice Mayor Lana Negrete, a key supporter of the initiative, 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!
Inspired by El Salvador’s adoption of Bitcoin as legal tender in 2021, Santa Monica hopes to attract similar investment and tourism. El Salvador’s Bitcoin office has brought significant economic benefits, which Santa Monica aims to replicate.
The city’s annual budget is $700 million, and in 2023, it welcomed 4.5 million visitors who spent nearly $1 billion. Recent Bitcoin developments in the city include firefighters adopting self-custody of Bitcoin and city leaders visiting El Salvador to study its Bitcoin adoption.
Dom Bei, Founder of Proof of Workforce, expressed his enthusiasm for the project, saying,
The future of Santa Monica is bright orange!
To celebrate, he plans to present a special Bitcoin visual on the Santa Monica Pier.
Santa Monica’s embrace of Bitcoin reflects a growing trend among cities and countries recognizing the benefits of being Bitcoin-friendly destinations.
