What are Crypto cities and why are they preferred?
Benefits of a decentralized and connected city
People all over the world are benefiting from the adoption of cryptocurrencies and massive educational efforts to promote blockchain technology to the unbanked and less privileged. In the beginning, it was considered impossible to get people to understand what these cryptocurrencies were and how they could be used. This is due to the fact that people tend to believe tangible things.
Blockchain technology and cryptocurrencies opened up the minds of the early adopters, making them evangelists of the new paradigm that is about to change the world. In turn, several cryptocurrency enthusiasts came together to create opportunities to educate and gather at events to illustrate the benefits and opportunities of blockchain technology.
As a result, there are now blockchain and cryptocurrency conferences and seminars taking place all around the world with prominent personalities attending and thus lending the event credibility. This has gradually branded some cities as blockchain and cryptocurrency hubs all over the world.
With the right government legislation in place, the implementation of a blockchain or cryptocurrency city will transform the way businesses and lives are run in such a city.
What is a crypto city?
A crypto city can be described as a decentralized smart city where the use of blockchain technology can be implemented at a full scale. Through the use of tokens, it can also build a much more complex financial and monetary ecosystem.
As an alternative to issuing bonds (debt) to finance city infrastructure, technological development, and other projects, cities should issue tokens as payment for services offered and use these to fund such projects.
Additionally, crypto cities can implement a cashless and paperless government in which the entire government runs on the blockchain. For example, Estonia keeps health records electronically and some parts of the United Arab Emirates are testing a blockchain-based system of government. Nayib Bukele, the president of El-Salvador, is a major supporter of using Bitcoin as the nation's official currency and is proposing the construction of a bitcoin city, which could be modeled globally.
The crypto city could function far more like a self-contained and quasi-independent nation-state, or city-state by facilitating large-scale platform development upon which multiple and complex services could be developed and delivered. Infrastructure platforms, for instance, might develop their own native identity, rules, money, or use blockchain-based social operating systems that can be created to serve the needs of society.
Because of the low level of education and awareness about the full potential of blockchain technology and what cryptocurrencies can do, the people who would prefer that their cities become crypto cities are still the crypto enthusiasts who are familiar with the benefits of using blockchain and cryptocurrencies.
With our educational content that is published on our various social media platforms with the sole aim of bringing awareness to the world, Klever continues to be at the forefront of bringing mass education and awareness on a global scale. In order for the world to transition to a new paradigm of the future, everyone must equip themselves with the right information.
It is a Klever thing to do.
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