To the outside world, Liberstad is firmly on course to become Norway's first private and completely autonomous city. However, as work on actualizing the ambitious project, located in the heart of lush, inviting vegetation, continue, there’s an exciting twist to the plot.
Liberstad has officially embraced cryptocurrencies and accordingly selected City Chain Labs’ City Coin to be the city’s de facto currency. Making this massive announcement, the Blockchain company also mentioned that CITY token will be the sole form of exchange within the city and residents will pay for everything using it.
Why City Coin Is The Most Ideal Cryptocurrency For Such A Huge Project
Tjelland farm, where the city will lie, is a 150-hectare piece of land that has been fully dedicated to founding the private city. Liberstad is found approximately 45 minutes away from the country’s 5th largest city, Kristiansand. And according to the project's official website, a majority invested using Bitcoin.
It may, therefore, appear odd to understand why the city had to settle for a little-known cryptocurrency yet other popular varieties could have offered just about the same function. Many, in fact, made their contributions via Bitcoin. Also, in terms of its usage, popularity and, of course, the market value, CITY can’t rival the mega-sized coins like BTC, ETH, BCH, LTC, and the others.
But the truth is, City Coin is the most suitable cryptocurrency for Liberstad. First, the core of its development is the fact that, unlike governments which invariably come and leave, cities often remain forever. And so, the coin is meant to last beyond the existence of several generations.
It is a safe and secure, perhaps the most innovative coin as it is built based on a smart city platform. The smart city platform is set in such a way that the design, execution, and use suit cities and the people that live in it. Liberstad has therefore settled for it and will use it to offer services to its residents.
Liberstad Will Still Be Subjected To The Laws Of The Land
Adopting CITY will not exempt Liberstad from complying with the laws and regulations of the land. It will be a city governed by a clique of ethical principles, including the most popular of them all – “voluntaryisme.”
However, having City Chain Labs at the heart of the city’s operations will mean a lot more than being a worthy Blockchain partner. This company will help the city fortify its principle of “voluntarysime” through what will be known as the City Hub.
City Hub will, therefore, allow the city’s occupants to run their everyday operations, including registering their identities, as well as that of their cars and other properties. It will also serve as a wallet that the locals will use to keep their CITY tokens. And for extra convenience, it will be available as an app or a desktop-based plugin.
The Number Of CITY Tokens And Their Value
City Coin has availed 10 million CITY tokens for the city, although 200,000 of them will be released per month. For a start, each Norwegian krone will be worth the same as one CITY.
It’s rather interesting to note that CITY has been listed on several exchanges already. There’s a visible aura of optimism about Liberstad and whether CITY will bring about an enviable amount of success.