Last year President Nayib Bukele announced the Bitcoin City project in El Salvador to make it the world’s first crypto city. The entire city is crypto themed with a hexagon -shaped grid used in town planning. When the class opens it will be an environmentally friendly crypto mining center as the power resources are generated entirely using sustainable resources.
Among the most interesting structures is a survey deck placed on a volcano that will also supply geothermal power resources to the entire new city. To support Bitcoin City a new round -shaped airport and port will also be built. The Bitcoin City master plan was produced by the FR-EE firm which had previously showcased the concept of a more sustainable model city.
As the first country in the world to accept Bitcoin as its official currency, the construction of Bitcoin City is seen as a national commitment to become the world’s leading cryptocurrency. Just a few weeks ago the Central African Republic followed in El Salvador’s footsteps by accepting Bitcoin as its official currency.
When the project was announced last year, President Bukele said El Salvador would use $ 1 billion worth of bonds. Half was used to develop Bitcoin City and the other half was used to buy more Bitcoin. With the values of all the world’s major cryptocurrencies falling sharply, it is unknown whether this project will be delayed while awaiting the value of Bitcoin to return to high.
