While there have been multiple attempts over the years at building “crypto cities” — special zones that rely on blockchain technology to function —most experiments have failed, and crypto executives think they know why.
One of the more recent high-profile projects was Akon City, the brainchild of Senegalese-American singer Akon. Announced in 2018, it was supposed to be a $6 billion smart city with a crypto-powered economy, but was data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/why-blockchain-cities-fail” rel=”https://cointelegraph.com/news/why-blockchain-cities-fail” target=”https://cointelegraph.com/news/why-blockchain-cities-fail” title=”https://cointelegraph.com/news/why-blockchain-cities-fail”>officially abandoned in July.
Satoshi Island, a data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/satoshi-island-crypto-utopia-receives-50k-citizenship-nft-applications”>project to acquire an entire island near Vanuatu, launched in…
