El Salvador president Nayib Bukele provided a glimpse into the designs of the first-ever cryptocurrency-funded city in the world.
Location of the Bitcoin City
The city is going to be created on the side of Conchagua volcano on the Gulf of Fonseca on the southern coast of El Salvador and according to the president, it will be funded by the sale of Bitcoin bonds.
Landmarks in Bitcoin City
The proposed Bitcoin City, which will be designed by Mexican architect Fernando Romero, will have a number of landscapes which will be constructed in plazas.
Powered by the volcano
The Bitcoin city will be powered by the geothermal energy from the nearby volcano and the same power will also to be used to mine bitcoins. The volcano will also feature a lookout for everyone to marvel the beauty of the modern city.
Cost of Bitcoin City
In order to finance the project of building the Bitcoin City, El Salvador will be issuing a $10 billion bond which will pay for the construction of the city and half of it will be reinvested in Bitcoin.