The Crypto Cities.
What if you lived in a city where bureaucratic problems they got resolved overnight, where you could track every action, the government took on a public? A network where every penny was accounted for and where taxes were actually used for development and innovation happened without middlemen trying to get their cut how does that sound if it sounds like a Fantasy or a Sci-fi Movie. Then you'd be wrong if you've been paying close attention to the developments in crypto. You would know that Crypto Cities they're already here still in early development but they exist and before you go unpack your bags and move from your city to a crypto city. Let's clarify what they are and how they work. Here at CryptoBeast I love writing articles about all things crypto, from crypto news to market moves and educational articles like the one today. So if you do want something more than just type into comment section below. If there is one thing people dislike most in this day and age is unchecked Centralized Power. If a mind decision needs to be taken in your city then it must go through a really likely process bouncing from one official to the next in a never-ending cycle even for something so small to get approved and crypto especially Blockchain is proven to be really successful in reducing the time. It’s cost required for government process the entire process from voting to approving to recording to archiving all of it still on the Blockchain you can literally see the entire process taking place on a public network which can't be modified hacked deleted or changed now globally. There has been a rise of local administrators really championing crypto and Bitcoin for their communities and their cities. Let's go over some of them and see what the future holds starting off the city of Miami has already issued its own Cryptocurrency called Miami Coin so, Miami mayor Francis Suarez has always been a really big advocate of Bitcoin and a really popular figure in the Bitcoin community. However he believes in Bitcoin as a store of value while his city's Miami Coin or Mia actually aims to become a more prominent payment method. He wants it to be faster and more efficient than Bitcoin so Mia actually runs on Stacks Protocol built on top of the Bitcoin network by sending Stacks native token to a smart contract. People can actually mine Mia and automatically send 30 of them to contribute to the city's wallet that acts as the city's crypto treasury so wouldn't it be really cool to actually say that your crypto is being used to help fund a city's development. And you can see how just imagine there would be a dedicated infrastructure within the city that would be built just for the use of crypto funds. So the experience has already proven really successful as the city's wallet has crossed 7 million us dollars. Miami City token actually debuted in august and has already gained 10 times in value since then confirming that a new type of economy more inclusive and more rewarding can be built through a crypto ecosystem Citycoin is a project that actually allows people to support their favorite Cities, while earning yield in Bitcoin helping them actually create Miami Coin and the process is really straightforward with the community of people coming together to vote for the next city to have its own coin through Citycoin.
Once that city is actually narrowed down the city mayor has to approve the proposal and agree to claims of the city wallet now there are a couple more steps of course but once the straightforward process has been completed citizens can really feel more engaged in the city contributing to help do better with the administration. Now Miami is not alone New York is also already on board as well with their NYC Coin and other American cities are joining soon. Now we've already seen how Blockchain and Cryptocurrencies can work differently for existing local governments but what if a city could be built from scratch and be based on Blockchain standards while citadel offers a radical experiment city tower is delivered under the Wyoming dow law and this law provides a legal framework to its participants that they can create an entirely new city from scratch. The product is still in its infancy the plan is to purchase plots of land starting with remote areas in Wyoming and then build cities governed by Abdow to make collective decisions manage resources and place lands using Blockchain. Their dial governance is based on a one per person voting mechanism. So it also used plans to use a system that provides a really new secure way to manage online identities now if we just paint the landscape here can you imagine an entire city built on top of the Blockchain and then all of this is happening right now in front of our eyes by the way speaking about history being made. We also have another city that has adopted Bitcoin as its legal tender and now they plan to take it to the next level. In November EL Salvador's president Buchel announced the country will start building a bitcoin city in 2022. This will be a city at the base of an ocean side Volcano and Bitcoin backbones will support the city with the construction that'll begin 60 days after funding. Now during this huge announcement the president actually pictured a city as an ideal place for residents and tourists to really enjoy restaurants shop buy homes and use an airport and other standard services as well and there will also be a central Plaza in the shape of a Bitcoin logo. The city will actually be powered interestingly enough by the nearby Volcano so geothermal energy will actually be used to process and verify events on the Blockchain. It’s pretty innovative right but there's more in 2018 Prague was regarded as the world's top Bitcoin city it was easier there than everywhere else in the world to rent apartments attend films or eating restaurants paying in crypto. The Czech capital actually counts over 200 venues and bars restaurants and even hotels Cinemas and just so much more that actually accept Bitcoin as a payment method. And now you can even buy Bitcoin at local ATMs so recently general bytes installed 10 new Cryptocurrency ATMs throughout the Prague Metro System (PMS) and then they used them to purchase Bitcoin. Now Prague also saw the opening of its crypto anarchy institute in which it receives international media attention for its Bitcoin coffee cafes all the way back in 2014. This institute is really interesting because it hosts regular Bitcoin meet ups and even has hosted a Bitcoin flea market. But your European trip it doesn't stop there. The hottest crypto city in Europe right now is Ijubljana in Clovenia with a population of only 300,000 people it actually hosts an extraordinary 314 Venues that accept Bitcoin and other Cryptocurrencies. The largest shopping destination in the country now accepts Bitcoin as its primary payment system conveniently enough it was named Bitcoin city and the complex is filled with around 500 retail stores they accept Bitcoin and other crypto. Arnhem was one of the world's first cities to experiment with Bitcoin all the way back in 2015 with one of the highest numbers of merchants actually accepting Bitcoin. The city's familiarity with Bitcoin has a lot to do with Patrick Van Damme a 36 year old resident who actually founded the Bitcoin city he also set up a payment system using which local vendors can run on their phones and accept Bitcoin but is paid in Euros. But Europe isn't the only continent that's making head ways in crypto. In Asia a Cryptocity worth mentioning is Malacca in 2019. The city announced it would turn 835 Acres of land into the first Blockchain city. In Asia with boutique hotels beautiful sea views villas and water recreational facilities interesting that the city will use a purpose-built DMI Blockchain platform. With DMI Cryptocurrencies which will mainly be used to pay government-backed services in town. Malacca actually also hopped on the NFT hype and developed a token system NFTs for digital tourism. It uses the Metaverse to show how the local government is following the latest technology trends and also innovations. So as more and more cities adopt crypto and Blockchain the more the world will glow and shine.
Comment below where in the world you're base and if you can spend your crypto there I’m really curious to hear and as always. If you do have any more questions about this wild bird of crypto you can always ask me in the comment section below see you all again.