Why Most Crypto Cities Fail

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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 officially abandoned in July.

Satoshi Island, a project to acquire an entire island near Vanuatu, launched in…



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Why Most Crypto Cities Fail


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 officially abandoned in July.

Satoshi Island, a project to acquire an entire island near Vanuatu, launched in…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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