First Graduating Class of Bitcoin Students in El Salvador Celebrates Holy Satoshi!
El Salvador’s pioneering venture into Bitcoin education achieved a significant milestone on April 2nd, 2024, with the commencement of the first cohort from the “Bitcoin Diploma” program.
Established in 2022 by the non-profit organization Mi Primer Bitcoin, the program is designed to provide Salvadorans with the necessary knowledge and skills to navigate the world of Bitcoin and potentially utilize it for their future.
Bitcoin Diploma Graduation Ceremony
El Salvador’s decision in 2021 to adopt Bitcoin as legal tender was a groundbreaking decision. The “Bitcoin Diploma” program reflects the country’s dedication to educating its populace about this new financial instrument.
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The program is endorsed by the Ministry of Education and has crafted a comprehensive curriculum utilizing open-source materials like its financial literacy workbook available on GitHub. The workbook’s influence extends beyond El Salvador, with The Node Network program utilizing it in 18 countries.
The commencement ceremony in San Bartolo witnessed 120 students putting their acquired knowledge to the test. Verifiers, consisting of developers, engineers, and finance professionals, evaluated their abilities in tasks such as creating a backup wallet and utilizing the Bitcoin Lightning Network for transactions.
Bitcoin is currently trading at $67.374. Chart: TradingView
While the graduation represents a significant accomplishment, El Salvador’s Bitcoin adoption journey faces challenges. Despite the educational efforts, the usage of Bitcoin for everyday transactions remains minimal.
Only about 20% of merchants currently accept Bitcoin, with tourist destinations like Bitcoin Beach leading the way in adoption. This disparity raises concerns about the program’s efficacy in reaching the broader population, especially those in rural areas.
Welcome to the 𝐆𝐫𝐚𝐝𝐮𝐚𝐭𝐢𝐨𝐧 of our Bitcoin Diploma in San Bartolo! 🇸🇻
After delving into #bitcoin for a few weeks, today is the culmination! We’re celebrating the students’ proof-of-work with a graduation ceremony.
🤩 THIS IS SO POWERFUL!
Come and join us! 👇🏽🧵 1/x pic.twitter.com/g2P5B72hC0
— Mi Primer Bitcoin (@MyfirstBitcoin_) April 2, 2024
Navigating El Salvador’s Bitcoin Experiment
El Salvador’s venture into Bitcoin education is a daring experiment with the potential to inspire other nations. The program’s focus on practical skills and global outreach through The Node Network are positive indicators.
The celebratory graduation ceremony further underscores the government’s commitment to fostering a Bitcoin-friendly environment.
However, the long-term success of the program depends on addressing the low rate of merchant adoption. Encouraging businesses to embrace Bitcoin and bridging the digital gap in rural areas are crucial steps.
The future career prospects for these Bitcoin Diploma graduates also remain uncertain. Establishing a job market that values their newfound skills will be crucial to ensure the program empowers them economically.
El Salvador’s Bitcoin education program is a work in progress. The graduation ceremony marks a significant initial stride, but the real challenge lies in integrating Bitcoin into the daily lives of Salvadorans.
The years ahead will reveal whether El Salvador’s leap into Bitcoin education pays off, potentially setting the stage for other nations to follow suit.
Featured image from Pexels, chart from TradingView
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