Melaka Straits City’ Is The First Smart City Where It Is Possible To Use Cryptocurrencies Only
‘Melaka Straits City' The First Smart City Where It Is Only Possible To Use Cryptocurrencies.
According to the British newspaper The Sun, Malaysia will become the place of the first city of cryptocurrencies in the world, where the use of fiat money will be rejected in favor of a new cryptocurrency called DMI.
The government is developing 835 acres of the city of Malacca in a tourist destination for curious crypto.
” DMI is a company that provides services of mobile company, business intelligence, and cybersecurity and has collaborated with Melaka Straits City in this project. Visitors will be able to exchange normal money for DMI coins when they arrive in the city …
Visitors should know how to use blockchain technology in the form of DMI currency if they wish to pay for any public service during their stay.
Other similar projects are underway around the world as companies struggle to create the encryption destination of the future, but the development of Melaka Straitis City aims to be the first Blockchain city in Asia.”
The development is supposedly backed by the Chinese government, which strongly supports blockchain technology, but is extremely tired of cryptography.
The project leader, Lim Keng Kai says:
“Our company is using cutting-edge blockchain technologies and integrating them into the traditional industry to make Malaysia a world-class tourist destination.
We have government approval to condition this land and present some excellent plans for the area.”
The development will be called Melaka Straits City. Upon entering the city of blockchain, tourists can convert their money into DMI through their mobile phones or computers.
“The DMI web application will be available on the PC and mobile applications will run on Android and iOS devices to provide flexibility regardless of people's preference.”
The developers anticipate that the blockchain city will attract up to three million visitors a year.
Last year, blockchain entrepreneurs launched a pilot called ‘Bitcoin City‘ in one of the largest shopping centers in Europe. Located in Ljubljana, Slovenia, the commerce complex is integrating cryptocurrencies as a payment option in its 4 thousand stores and retail businesses.
It is not the first time that initiatives such as Bitcoin City and Malaka Straits City have been proposed. Projects like ‘LIBERSTAD', have the purpose of establishing the first private city of Norway, where all the properties are private and all the services are carried out by private actors, but that work with cryptography for all their development.
The project was officially established on June 1, 2017 with the help of more than 100 investors from 27 different countries, to develop in Tjelland, Norway.
Its cryptocurrency proposed for development in the project is City Coin, the official currency and the pre-sale of parcels has concluded satisfactorily, according to its website, whose future land sales will be exclusively through its official cryptocurrency.