- August 21, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
El Salvador’s National Bitcoin Office (ONBTC) has launched a Bitcoin training and certification program for 80,000 public servants.
In an Aug. 20 statement, ONBTC confirmed that Bitcoin education is now a vital component of a governance initiative designed for public sector employees. This program is part of the Higher School of Innovation in Public Administration (ESIAP), established by President Nayib Bukele in 2021 to elevate governance standards.
The program features nine training modules covering Bitcoin, Blockchain, Cybersecurity, and Artificial Intelligence, among others. Upon completion, participants will receive certification in these areas.
Stacy Herbert, Director of the Bitcoin Office, hinted at a larger announcement on the horizon, noting that this program is just the beginning. She added:
“These education projects are very low time preference commitments to the long term success of El Salvador and its bitcoin (& tech) policy.”
Meanwhile, these trainings are part of El Salvador’s broader effort to advance Bitcoin education nationwide. Since adopting Bitcoin as a legal tender in 2021, the country has introduced three other crypto-focused educational initiatives, including Cuboplus, My First Bitcoin, and Node Nation, which are now part of the public school curriculum.
El Salvador Bitcoin
This move confirms that El Salvador remains steadfast in its Bitcoin strategy despite initially drawing criticism and doubt from international observers.
Indeed, the strategy appears to be finally paying off, as the International Monetary Fund (IMF) recently acknowledged that its anticipated risks of El Salvador adopting Bitcoin as a legal tender have not materialized.
Further, El Salvador’s Bitcoin holdings have yielded a profit of over 35%, largely due to strategic acquisitions made during market downturns. According to Nayibtracker data, the country currently holds 5,848 Bitcoin at an unrealized profit of more than $47 million.
In addition, President Bukele recently announced a $1.6 billion investment by Turkish firm Yilport Holdings to upgrade two ports in the country, one of which will host the proposed Bitcoin City. The city, envisioned during the 2021 Bitcoin adoption, is expected to be a tax haven powered by geothermal energy for Bitcoin mining and will attract crypto enthusiasts worldwide.
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