El Salvador is making bold statements with blockchain technology. Now, it is rolling out an 80,000-employee training program. This is a move towards including Bitcoin in El Salvador’s policy and governance.
Read on to understand what El Salvador is seeking and how this affects other countries around the world.
What does it Entail?
The virtual training course “Certification in Public Administration 1” has seven modules. The topics include Bitcoin as a legal tender, regulations, and government use cases.
The director of the ONBTC, Stacy Herbert, noted how this could pay off. “As we build better and innovate, El Salvador keeps winning. I am also assisting in building the Bitcoin module for this program at ESIAP Academy. Thousands of civil servants in El Salvador would receive top-level Bitcoin training. The target of this program is to create excellence in governance in El Salvador. I am also creating Cubo Plus, building a new K-8 Bitcoin Workbook, and introducing My First Bitcoin and Node Nation to public schools. All this will help improve how Salvador is excelling in blockchain technology application.”
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Building on President Bukele’s Vision & Global Interest and Partnerships
The Higher School of Innovation in Public Administration (ESIAP), founded by President Nayib Bukele, set this up. It also extends President Bukele’s goal to incorporate BTC into El Salvador’s governance and economy. The country is getting down to business with Bitcoin education for civil servants will help with public policy. This would be the foundation for integrating digital assets into society.
El Salvador’s use of Bitcoin has attracted a lot of attention in different countries. In May 2024, Argentina teamed up with El Salvador to study its experience with cryptocurrency. They have been looking at cryptocurrencies and enacting crypto firm laws. The financial heads of each country also talked about cooperating with El Salvador to adopt some of their crypto policies.
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IMF and Financial Stability & El Salvador’s Historic Moment
The International Monetary Fund (IMF) warned against adopting Bitcoin as its currency. El Salvador has sailed on smooth seas on this. An IMF team is partnering with El Salvador to improve governance as a response to the risks triggered by Bitcoin. The discussions signal a shift towards accepting the use of digital currencies.
In September 2021, El Salvador became the first country to make Bitcoin a legal tender. Its objectives include increasing financial inclusion, decreasing remittance costs, and boosting foreign investment. The country introduced Bitcoin to its economy and changed how it operated. It went as far as mining Bitcoin off clean geothermal energy from its natural volcanoes. El Salvador shows its commitment to the National Department of Digital Asset Utilization. Countries around the world are watching as other nations weigh the potential of following this country.
Conclusion
El Salvador is integrating digital assets into its economy. The country believes that Bitcoin can improve its governance and public administration. Training 80,000 government staff sets the country on track for a gold-standard economy. The impact that digital assets will have on the world puts El Salvador miles above others. It has set quite an example for all other nations to look up to.
Disclaimer
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