The Bitcoin City will become El Salvador's newest volcanic city. Nayib Bukele, the country's president, revealed the city's designs, created by architecture studio FR-EE. Funded by cryptocurrency, the new city will be located in the country's southern area on the Gulf of Fonseca.
Moreover, not only will the city be funded by cryptocurrency following the sale of a Bitcoin bond, but it will also take the shape of a bitcoin to further emphasize its roots. Bitcoin city will be powered by geothermal energy harvested from the Conchugua volcano. In addition, the geothermal energy gathered from the volcano will be used to mine bitcoin, which is a highly energy-intensive process. Using geothermal power, the city will be powered sustainably.
Image Credit: FR-EE
The Volcanic Bitcoin City Will be Constructed in El Salvador
1. Cryptocurrency-funded Cities - Architectural innovations and designs using cryptocurrency-funding will continue to emerge especially in developing countries.
2. Geothermal-powered Cities - More cities will look into utilizing geothermal power to sustainably power their communities and possibly even for mining cryptocurrencies.
3. Bitcoin-inspired Architecture - Innovative architects and designers will explore creating Bitcoin-inspired structures and buildings in various shapes and forms.
1. Architecture and Design - Architecture and design firms may explore opportunities in creating and designing cryptocurrency-funded and Bitcoin-inspired structures.
2. Renewable Energy - The renewable energy industry could look into geothermal power and how it can be effectively utilized to sustainably power communities.
3. Cryptocurrency - The use of cryptocurrency for funding large-scale projects could become an innovative method in the financial industry.