El Salvadorbecame the first country to accept Bitcoin as its official currency. So much so that the country used some of its resources to invest in Bitcoin and made a huge profit.

Following this bold move, we are now launching the world’s first cryptocurrency city. BitcoinCity With his project he managed to attract attention on the world stage.

The project, announced in 2021, is expected to be located at the foot of the Conchagua volcano.

The city’s energy needs are located in this region of eastern El Salvador with geothermal energy obtained from the volcano The aim is to meet needs and thus provide a sustainable life.

The main goal of the project is to Demonstrating the potential of Bitcoin and blockchain technology and pioneer innovations in this field.

Furthermore, Bitcoin City is planned to become a tax-free zone, making a tax haven It’s meant to be that way.

Bitcoin City also aims to provide modern infrastructure and various social services.

Extensive facilities will be built in the fields of education, healthcare, culture and entertainment, as well as training programs and programs on cryptocurrency and blockchain technology. A centre for innovative projects It is said that he aims to become.

In this way, Bitcoin City supports the ecosystem of technology and entrepreneurship a global center of attraction It is meant to be.

Apparently the creation of Bitcoin City For the economy of El Salvador It also has great potential for transformation.

The project aims to attract local and international investors, create employment in the city, increase tourism potential and innovative projects. to the country’s economic growth and aims to make a significant contribution to its international recognition.

Of course there is also criticism!

While Bitcoin City as an extraordinary project offers some opportunities, it also faces some challenges and challenges. criticism too It entails.

The Volatile Nature of Bitcoin and uncertainties in the cryptocurrency markets raise questions about the sustainability of the project.

Moreover, according to France 24 news, although two years have passed since the project was announced, No action has been taken yet.

The same news also announced the $1 billion Bitcoin bonds that were set to finance Bitcoin City. not yet released Is being asked.

Among them is President Nayib Bukele, who announced the project and said it would be completed even if there were delays. makes him the target of arrows of criticism.

Our other content that may interest you: