Insights: Creating a Blockchain-Powered City - is it possible?
Originally Posted on bitcoinist.com
2017 is widely regarded as the beginning of the blockchain era. Though the concept itself was born in 2008 with the advent of Bitcoin, it was 2017 when the blockchain fever burst out: thousands of companies, from small start-ups to high-tech giants such as IBM, Microsoft, Rakuten, and Telegram, joined the technology race.
Having gone viral, blockchain encompasses new spheres and evolves into new forms. When a year ago it was about developing single products based on decentralization, now the blockchain evangelists dare dream of globalization and creation of the entire crypto universe. Or at least a location such as a city powered by decentralization, transparency, and cryptocurrencies.
IN SEARCH OF LOST ATLANTIS
If you have imagined a city with a golden statue of Bitcoin standing on the main square, we are to assure you that it’s not what we mean. Although, quite recently a giant Bitcoin logo has been proudly shining on the Swiss National Bank right in the center of Zurich. Still crypto enthusiasts all over the world dream of a city where everyone could access necessary products and services in a way convenient for him – with the usual cash, a bank card or innovative digital currencies. This makes the core value of the blockchain advocates – the freedom from the exceptional need to use the traditional money only.
The crypto city is not as much as an actual urban settlement, but more as an advanced infrastructure that the holders of virtual coins lack in. Imagine, as of the first quarter of 2018, there are more than 23 million blockchain wallets worldwide! However, for their owners, cryptocurrencies are mostly a means of accumulating wealth, rather than of real usage. To take full advantage of digital currencies’ utility, it’s necessary to have the appropriate infrastructure – not diffused around the world, but concentrated in one place.
The idea of reating a crypto city is not as utopian, as it may seem at first glance. In many countries, including the United States, Great Britain, Switzerland and other European states, in the Asian region, there are already shops, cafes, and hotels that accept cryptocurrencies as payment. Blockchain enthusiasts have even created the world map of places where you can go, having only a crypto wallet in your “pocket”. The number of companies friendly to digital currencies is still small but is steadily growing. After all, as the fundamental law of economics says, demand always breeds supply. This axiom also remains valid in the digital reality.
Moreover, several countries can already be called the pilot version of crypto haven – there the distributed ledger technology develops at a rapid pace, and coins based on it are organically integrated into real life. This refers to Switzerland with the world’s center of ICOs – the city of Zug; Japan that officially legitimized cryptocurrencies; Singapore – the world-famous Fintech & Crypto hub; and Holland, which capital has the largest number of Bitcoin ATM in the world.
The financial institutions of other countries also give reasons for some optimism. Despite the fact that the issue of legalization of cryptocurrency as a digital asset is still hanging in the air, regulators realize the innovative value of the blockchain technology and understand it’s impossible to ignore it. In particular, at the end of March 2018, the topic of cryptocurrency regulations was discussed at G20 Summit, and by July its members should work out specific recommendations on the circulation and use of virtual coins under their jurisdictions.
STEPPING INTO THE FUTURE
Cryptocurrency evangelists believe that in a relatively near future they will get an alternative to fiat payments. Of course, it’s too early to talk about widespread usage of digital coins and tokens, but in small locations, which have already started to emerge in the Fintech centers – it is quite possible. Virtual money has a number of undoubted advantages in comparison with traditional means of payment: the absence of geographical borders and intermediaries such as banks, lower transaction fees, security and guarantee of payment, transparency of data and strong protection of confidential information about the parties involved.
IT-business is also focused on the developments in the crypto industry keeping their eye on the ball. After all, being the first to get on the path of skyrocketing blockchain innovations, you can overtake the lead for a decade ahead.
The Asian Noah Project is one such pioneer company. Since 2016 it has been implementing a number of projects, united by a common goal – to make the blockchain technologies accessible, understandable, and, most importantly, useful for people. One of the most ambitious sectors of the Noah Project is the idea to create a City of the Future, where innovative digital technologies will be developed and applied. By the way, this concept is already at the implementation stage. The Noah Project is in the collaboration with a construction corporation that builds Horizon Manila – estimated to be the largest Central Business District in the Philippines, once built. Within Horizon, they plan to create the Noah City. In the City, there will be a small complex where Noah Coin will be accepted as a token. Its holders will get exclusive access to a variety of services (for example, a luxury resort on the coast), discounts and loyalty programs.
Members of the Noah Project team are confident:
Blockchain and virtual currencies are not just a hype. These are innovations going to drive the progress. Already now we see that the world is ready to embrace the novelties and use them – but they need a place where the technologies can flourish.
In their opinion, Noah City can become a technological hub that gathers blockchain enthusiasts, start-ups, and just people who want catch the wave of progress.
You can get your piece of a pie and join the Noah Project right now – at its implementation stage. Noah Coin which will serve as “ticket” to the blockchain-powered city with all its exclusive services is available for purchase on the selected platforms: HitBTC and Changelly exchanges.
As the example of “disruptive” bitcoin has shown, it’s the early adopters of innovative solutions who skim the cream off. Get ahead of the world or trail behind- the decision is yours.