The municipal council of Santa Monica unanimously approved the office on July 11, and its webpage went live on August 8.
The City of Santa Monica, California, established a Bitcoin Office to educate residents, identify potential economic opportunities, and consolidate the city’s position as a center for Bitcoin innovation.
Proof of Workforce is a nonprofit organization that focuses on providing individuals in the workforce, unions, and pension funds with education regarding Bitcoin. The office is working closely with Proof of Workforce.
Santa Monica Municipal Approves New City Office
During the meeting that took place on July 11, the Santa Monica municipal council voted unanimously to establish the new city office. The city published the office’s webpage on its website on the evening of August 8.
Despite the fact that the office’s webpage does not provide any specific recommendations, the city will host a Bitcoin festival in October. In accordance with its X profile, the Santa Monica Bitcoin Office is described as “an education-based community initiative coordinated by the Proof of Workforce Foundation (not financial advice).”
“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.”
The office’s website contains a lengthy disclaimer that warns users about the potential dangers of investing in cryptocurrencies. It was defined as in the year 2023, Dominick Bei, a firefighter from Santa Monica who had previously served as the president of the firefighters’ union, established the Proof of Workforce Foundation.
“The organization’s goal is to empower unions, workers, and organizations to discover ways in which Bitcoin can enhance their mission and well-being,” the organization says in its mission statement.
The organization has 501(c)(4) nonprofit tax status. It is not necessary to reveal the identities of its donors. The nonprofit organization does not charge the city a fee for its coordinating efforts.
A Bitcoin festival is revived
It appears that there is a connection between the Bitcoin Peer to Pier Festival and an event that was supposed to be sponsored by Swan Bitcoin. The city is marketing the festival.
On August 5, Swan announced the cancellation of the Pacific Bitcoin Festival in Santa Monica due to a reduction in employee numbers. The firm has announced that Swan will replace the two-day event with a more modest event on October 17th. The city plans to promote the event on October 18th.
