Nowadays Crypto enthusiasts are beginning to dream about creating a whole crypto universe and the first steps have already been taken.
A year ago blockchain and cryptocurrencies were only used within the borders of certain projects, but now the enthusiasts are determined to expand the boundaries of the crypto world. It’s a rather distant idea but the first steps have already been made towards that notion, with more projects of crypto cities appearing where decentralization, innovation and of course cryptocurrencies would take center stage.
The goal of these projects is to create a place where digital currencies will become a secure alternative to traditional, fiat money, where neither banks nor governments would be able to control the finances.
Let’s take a look at who is interested in building these cities or areas, where and why?
Sol City
Country: Puerto Rico (San Juan)
Development stage: Initial
Cryptocurrency: All existing
About a year ago, a group of crypto-enthusiasts, including a former actor and now crypto investor Brock Pierce, went to Puerto Rico, which was seriously damaged by Hurricane Maria, that hit the country last fall. It was there that they saw an opportunity to create a "puertopia" - a new city where the money would be virtual, and all contracts public. It was named Sol. Entrepreneurs have already bought a whole block in the historic district of the capital called the Old San Juan. At the moment the project is still in the development stage.
Why Puerto Rico: The country attracted crypto followers with unprecedented conditions - no federal taxes on personal profits and favourable taxes for businesses. And all this without having to give up American citizenship.
Noah City
Country: Philippines (Manila)
Development stage: Initial
Cryptocurrency: All existing + native Noah Coin
The Asian Noah Project can be the first company to make the futuristic city dream come true, building it from scratch. The leaders themselves call their project a utopia. The city, or rather the quarter called Noah City, will appear in Manila, based in Horizon Manila. It’s expected that a large area will be built where cryptocurrency will be accepted, including the Noah Coin - and the users will receive exclusive access to a number of services (for example, a luxury resort on the coast), discounts and loyalty programs. The idea of a crypto town is already at the implementation stage. Noah Project is cooperating with the construction company that built the Horizon Manila area.
Why the Philippines: In this country, two important trends are closely intertwined - a low level of rendered banking services and a huge popularity of smartphones. Additionally, the Philippines is characterized by high GDP growth rates (up to 7% per year). Project leaders expect that the young people will jump at the opportunity to learn how to perform crypto transactions with the help of their smartphones and will get carried away by this idea.
Akon Crypto City
Country: Senegal
Development stage: In development
Cryptocurrency: Akoin
Akon Crypto City - is the brainchild of a well-known songwriter and music producer Akon. By creating this futuristic city, the artist wants to help the country he was brought up in. According to him, blockchain and crypto could save Africa since they return the power to the people, and security to the currency system. In the "real Wakanda" (the country from the film and comic books about the superhero Black Panther), as the crypto town, on the official website of the project, the entire infrastructure will be built from scratch - houses, shops, parks, schools, universities, etc. And, of course, it "will be 100% based on cryptocurrencies". Also, in due course, Akon's own cryptocurrency - Akoin will be adopted.
Why Senegal: Unlike the previous crypto cities, everything is simpler. Senegal is the place where Akon grew up, so there is no other place for him to develop such an ambitious project.
The Blockchain District
Country: India
Development stage: Initial
Cryptocurrency: All existing
It recently became known that India will soon build the first blockchain district in the country. In August, the authorities of the Indian state of Telinggan signed an appropriate memorandum of understanding with Tech Mahindra. The district should become a center for the development of new technology and an incubator for blockchain startups all around India and could become one of the world's centers. It will appear in the state capital of Hyderabad. The state government will build all the necessary infrastructure, and Tech Mahindra will provide technological support to residents of the district form its side.
Why India: Unlike in the previous cases, here the project will be supported by the local government, so the geographical area was predetermined.
Agnes Water
Country: Australia, Queensland
Development stage: Completed
Cryptocurrency: BTC, BCH, ETH, LTC, NEM
Agnes Water is somewhat different from all other places on this list - after all, it will not be built from scratch. It’s a small town in Australia, with a population of 2 thousand people. In the early summer, it proclaimed itself to be the first "cryptocurrency city".
Despite its small size, more than 30 local companies - from hotels and tour operators to restaurants - began accepting bitcoins, bitcoin cash, ethers, litecoin, and NEM as payment. The Australian crypto startup TravelbyBit was responsible for launching the digital payment infrastructure. Agnes Water is always filled with tourists, as this is the nearest settlement to the Great Barrier Reef. Therefore, there are very good chances that cryptocurrency will excel there.