The Most Important Aspects of Bitcoin City

The Most Important Aspects of Bitcoin City

The president of El Salvador, Nayib Bukele, announced that in 2022 the construction of what they have called "Bitcoin City" will begin. This will be - according to the president - a bitcoiner city, provided with geothermal energy and almost free of taxes (with the exception of VAT).

Although the first information is just known, the Presidential House of El Salvador, through its account on the social network Twitter, has given some indications and advances of what Bitcoin City will look like.

The city will be located in southeastern Salvadoran, near the towns of La Unión and Conchagua. This is an area near the Gulf of Fonseca, on which both El Salvador, Honduras, and Nicaragua have coasts.

Initially, Bitcoin City would be supplied with geothermal electrical energy that comes from the Tecapa volcano. This is located almost halfway between what will be Bitcoin City and San Salvador, the capital of the country. Tecapa has a geothermal power generating plant that was built in 1999.

Key facts:

-The city will be circular with a square in its center and will have a large carved "B".

-Attracting foreign investors is one of the main objectives of Bitcoin City.

-In a later stage, it will become completely dependent on the Conchagua volcano, closest to the bitcoiner city.

The change from a global economy to a more balanced one at the local level incorporates innovative technologies ”, indicates the Presidential House. They add that they will be "based on a healthy circulation of resources and natural geothermal engineering." All this, in order to develop "an environmental city"

Something that stands out about Bitcoin City is its circular design. In the center, there will be a square with a large 'B' of Bitcoin carved out. Apparently - perhaps underground - the Museum of Bitcoin will also be installed there. The Presidency explains that this "B" will serve to "allow light to enter the exhibition rooms" of the museum. In that institution "people will learn about the evolution of money", from stones to cryptocurrencies.

50% of the city will be dedicated to residential areas; 20% will be sectors for social recreation; 10% will be green areas; 8% will be occupied by industries and offices; 7% will be destined for the installation of digital equipment; 3% will be for "eco-infrastructure", and the remaining 2% will be infrastructure necessary for the transportation.

This transport infrastructure, although it will occupy only 2% of the city's space, will be of advanced level and includes an airport. This aeronautical center, according to government plans, "will grow over time to accommodate not only the hardworking inhabitants of the eastern part of the country but also tourists who will be interested in visiting the Bitcoin City."

"Bitcoin City will promote the new needs of the cities of the microcosm, with a sense of community-based on public spaces as the center of social life, which will encourage new investments", indicates the Presidency. They define city design as "a holistic approach to urban planning."

Created on 26th Nov 2021