The post El Salvador Doubles Down on Bitcoin with On-Chain Documents and a Full Month of Adoption Events appeared on BitcoinEthereumNews.com. El Salvador anchors official documents on Bitcoin using cryptographic hashes to guarantee their integrity and prevent future manipulation. The country is hosting a month of Bitcoin events, focusing on adoption, circular economies, and community development. The government of El Salvador has started a process to record official documents on the Bitcoin network. This action is being carried out in collaboration with the American company Simple Proof. The first public archives to be protected under this system are the certificates from the CUBO+ educational program, managed by the National Bitcoin Office of El Salvador (ONBTC). Carlos Toriello, chief executive of Simple Proof, confirmed the news. He explained that Bitcoin functions not only as decentralized money but also as an immutable timestamp server. “Bitcoin is not just the money nobody controls, it is also the only clock that nobody can manipulate,” stated Toriello. “That allows for the recording of any digital event with a timestamp that is impossible to alter,” he added. The Technical Mechanism for Blockchain Registration The implemented solution differs from others that store complete information on a blockchain. Simple Proof does not upload the original files or personal data to the network. Instead, the system generates a cryptographic hash, a unique alphanumeric sequence that acts as a digital fingerprint for the document. This hash is included within a single Bitcoin transaction, occupying only 32 bytes of space in a block. This amount represents less than 0.01% of a block’s total capacity. “We can protect millions of documents with a single transaction, without congesting the network or interfering with its monetary function,” detailed Toriello. The core protocol enabling this process is OpenTimestamps, an open-source tool created by developer Peter Todd. This protocol uses Bitcoin as a global notary. Its function is to certify that a specific document existed at a… The post El Salvador Doubles Down on Bitcoin with On-Chain Documents and a Full Month of Adoption Events appeared on BitcoinEthereumNews.com. El Salvador anchors official documents on Bitcoin using cryptographic hashes to guarantee their integrity and prevent future manipulation. The country is hosting a month of Bitcoin events, focusing on adoption, circular economies, and community development. The government of El Salvador has started a process to record official documents on the Bitcoin network. This action is being carried out in collaboration with the American company Simple Proof. The first public archives to be protected under this system are the certificates from the CUBO+ educational program, managed by the National Bitcoin Office of El Salvador (ONBTC). Carlos Toriello, chief executive of Simple Proof, confirmed the news. He explained that Bitcoin functions not only as decentralized money but also as an immutable timestamp server. “Bitcoin is not just the money nobody controls, it is also the only clock that nobody can manipulate,” stated Toriello. “That allows for the recording of any digital event with a timestamp that is impossible to alter,” he added. The Technical Mechanism for Blockchain Registration The implemented solution differs from others that store complete information on a blockchain. Simple Proof does not upload the original files or personal data to the network. Instead, the system generates a cryptographic hash, a unique alphanumeric sequence that acts as a digital fingerprint for the document. This hash is included within a single Bitcoin transaction, occupying only 32 bytes of space in a block. This amount represents less than 0.01% of a block’s total capacity. “We can protect millions of documents with a single transaction, without congesting the network or interfering with its monetary function,” detailed Toriello. The core protocol enabling this process is OpenTimestamps, an open-source tool created by developer Peter Todd. This protocol uses Bitcoin as a global notary. Its function is to certify that a specific document existed at a…

El Salvador Doubles Down on Bitcoin with On-Chain Documents and a Full Month of Adoption Events

  • El Salvador anchors official documents on Bitcoin using cryptographic hashes to guarantee their integrity and prevent future manipulation.
  • The country is hosting a month of Bitcoin events, focusing on adoption, circular economies, and community development.

The government of El Salvador has started a process to record official documents on the Bitcoin network. This action is being carried out in collaboration with the American company Simple Proof. The first public archives to be protected under this system are the certificates from the CUBO+ educational program, managed by the National Bitcoin Office of El Salvador (ONBTC).

Carlos Toriello, chief executive of Simple Proof, confirmed the news. He explained that Bitcoin functions not only as decentralized money but also as an immutable timestamp server.

The Technical Mechanism for Blockchain Registration

The implemented solution differs from others that store complete information on a blockchain. Simple Proof does not upload the original files or personal data to the network. Instead, the system generates a cryptographic hash, a unique alphanumeric sequence that acts as a digital fingerprint for the document.

This hash is included within a single Bitcoin transaction, occupying only 32 bytes of space in a block. This amount represents less than 0.01% of a block’s total capacity. “We can protect millions of documents with a single transaction, without congesting the network or interfering with its monetary function,” detailed Toriello.

The core protocol enabling this process is OpenTimestamps, an open-source tool created by developer Peter Todd. This protocol uses Bitcoin as a global notary. Its function is to certify that a specific document existed at a determined point in time, without needing to reveal the content of the file itself.

Regarding the CUBO+ certificates, Toriello indicated that each graduate can prove the authenticity of their diploma. Anyone can publicly verify the hash of their document, a process that requires no intermediaries.

The Planned Expansion and its Long-Term Implications

Following this pilot project with educational certificates, Simple Proof and the ONBTC are moving forward with developing tests involving other ministries of the Salvadoran government. The goal is to apply the same anchoring system to a broader range of administrative and legal documents.

This expansion aims to ensure that no public document can be manipulated or falsified, establishing a new standard of transparency and trust for citizens. The CEO of Simple Proof emphasized that the innovation goes beyond the technological aspect. It represents a novel methodology for historical preservation.

This application of Bitcoin’s technology to safeguard public documents also positions itself as a defense tool against misinformation and content generated by artificial intelligence.

The main event is called “Bitcoin Histórico,” organized by the National Bitcoin Office on November 12th and 13th at the National Palace, located in the Historic Center of San Salvador. This festival combines talks, interactive workshops, and family activities, all free of charge. The list of confirmed speakers includes Mexican businessman Ricardo Salinas Pliego, author Jeff Booth, developer Jack Mallers, and comedian Russell Brand.

Stacy Herbert, director of the National Bitcoin Office, spoke about the event.

The central topics to be addressed include regulation, energy infrastructure for crypto mining, and the financial inclusion of unbanked populations.

Subsequently, from November 14th to 15th, San Salvador will host the fifth edition of Adopting Bitcoin. This forum is dedicated to showcasing how each new user, project, or technical development strengthens the global Bitcoin network. 

Towards the coastal zone, in Playa Punta Mango, within the El Zonte region, the annual Bitcoin Beach gathering is expected to take place from November 18th to 20th. This event integrates community education with recreational activities, such as soccer and surf tournaments, alongside practical demonstrations on the use of Bitcoin.

Finally, the “Economía Bitcoin” conference will be held on November 22nd and 23rd in the town of Berlin, in the department of Usulután. This is a boutique-style event that focuses on creating circular economies based on Bitcoin. It will offer discussion panels on the expansion of local payment networks and community integration processes.

Source: https://www.crypto-news-flash.com/el-salvador-doubles-down-on-bitcoin-with-on-chain-documents-and-a-full-month-of-adoption-events/?utm_source=rss&utm_medium=rss&utm_campaign=el-salvador-doubles-down-on-bitcoin-with-on-chain-documents-and-a-full-month-of-adoption-events

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