On 21st August, El Salvador’s National Bitcoin Office (ONBTC) announced a new initiative to train and certify 80,000 government employees in Bitcoin. This program aims to enhance understanding and management of Bitcoin, reflecting the Central American nation’s commitment to integrating the cryptocurrency into public administration.
The 160-hour program, “Certification in Public Administration 1,” will be delivered remotely. It is broken up into seven chapters that address different facets of Bitcoin.
It includes its management techniques, legal status, and pertinent legislation. This program aims to provide public employees with the skills to manage Bitcoin as legal cash and carry out relevant policies.
Around 80k Government Employees In Bitcoin Management
President Nayib Bukele officially opened the Higher School of Innovation in Public Administration (ESIAP) in August 2021, and it is the organisation that oversees the certification program. With a special emphasis on technology and cryptocurrencies, this organisation aims to raise the bar for public administration and governance in El Salvador.
El Salvador has gained notoriety for its creative approach to Bitcoin mining, employing the Tecapa volcano’s geothermal energy to mine around 474 bitcoins since 2021, Reuters reported.
The government now has about 5,750 bitcoins in its possession thanks in large part to this sustainable mining technique, as per data on May 2024.
This portfolio is valued at approximately $354 million at the present pricing. With 473.5 bitcoins worth over $29 million, the most recent mining operations demonstrate El Salvador’s dedication to using sustainable energy sources in its Bitcoin strategy.
El Salvador Flying the Bitcoin Flag High
The training program offered by ONBTC is a component of a larger plan to thoroughly integrate Bitcoin into El Salvador’s public sector. The program intends to improve the efficacy and efficiency of Bitcoin-related policies and practices by providing significant number of government personnel with training and certification in cryptocurrency.
In general, this action highlights El Salvador’s continuous attempts to incorporate Bitcoin into its legal and financial frameworks, establishing the country as a pioneer in the uptake and development of cryptocurrencies.