California’s Santa Monica Opens Bitcoin Office to Promote Usage

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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Last updated:

August 12, 2024 03:07 EDT

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California’s Santa Monica is taking a step forward in crypto education by establishing a dedicated “Bitcoin Office.”

The city aims to equip residents and businesses with knowledge about Bitcoin’s potential to shape the modern economy, according to a recent announcement.

This office will actively seek partnerships within the crypto industry to boost Santa Monica’s economic recovery. It will also look to create new job opportunities and establish strategic collaborations. In this regard, the office aims to build a strong, future-oriented economy that benefits everyone in the community.

Santa Monica’s Bitcoin Office to Drive Innovation, Job Creation

The governmental office said it aspires for Santa Monica to become the epicenter of Bitcoin innovation on the West Coast. “We strive to unlock new opportunities, attract investment in our community, and ensure our city thrives in the digital age,” it said.

It will also identify job prospects in the Bitcoin industry for both residents and students. Additionally, it will investigate the feasibility of using the city’s surplus renewable energy to power environmentally friendly Bitcoin mining operations.

The Bitcoin office was launched in partnership with the Proof of Workforce Foundation, a non-profit organization committed to promoting Bitcoin adoption among unions, organizations, and workers.

Vice Mayor Drives Santa Monica’s Bitcoin Adoption Following El Salvador Study

Vice Mayor Lana Negrete reportedly introduced the proposal to establish the office. She visited El Salvador last November to study the economic impact of Bitcoin as legal tender. Moreover, El Salvador has publicly commended Santa Monica’s efforts to adopt Bitcoin.

Negrete said she hopes that positive publicity will attract more crypto-related conferences and businesses to Santa Monica. The upcoming Pacific Bitcoin Festival in October is expected to draw global attendees, with the hope that some will choose to stay and invest in the city.