Bitcoin City, the Bitcoin city that El Salvador will build on the slopes of the Conchagua volcano, received the LOOP Design Awards, one of the most recognized in the architecture and design sector.
The ambitious Bitcoin city project that El Salvador wants to build to bring the global and legal tender cryptocurrency in its territory towards mass adoption, has dazzled the jury at the LOOP awards.
The city is described as the most ambitious regional development project that El Salvador has undertaken in its entire history and as one that will mark a before and after in our civilization.
Bitcoin City, as the future city was presented by Salvadoran President Nayib Bukele during the closing of the Latin American Bitcoin & Blockchain Conference (LABITCONF) in 2021, will be a metropolis that will function 100% with geothermal energy from the Conchagua volcano and that will prioritize the use of Bitcoin as a key element to promote hyperbitcoinization, which is the liberation of the State's economic system.
The design of this Bitcoin city is by architect Fernando Romero. The plans of what Bitcoin City will be like, its integration with the Conchagua volcano and its modern landscape made it winner of the “Landscape and Urban Design” category at the LOOP Design Awards 2022.
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Bitcoin City, the modern city that El Salvador will build
The first designs of Bitcoin City They were shared by President Bukele in May of last year. Through Twitter, Bukele had shown how the city will be built at the foot of the Conchagua volcano, will run on geothermal energy and will prioritize the development of the crypto industry.
Romero describes Bitcoin City as a place where a new contemporary lifestyle will begin. the city “it will become a catalyst for investment by local and foreign companies” related to the Bitcoin and cryptocurrency industry, Romero explained, attracting those who are dedicated to crypto mining as well as those who develop and promote the creation of new technologies.
This urban project in El Salvador will combine a smart city model with the innovation of the crypto and blockchain industry. Romero explains that Bitcoin City will offer a series of incentives to entrepreneurs and investors who are interested in the city, while placing the central focus on the well-being of citizens, guaranteeing efficient and sustainable operation.
“The new public space will be the culmination of decades of research into what humans need to live well in an anti-inflationary economy”, highlighted the architect in charge of Bitcoin City, referring to the deflationary nature with which the main cryptocurrency on the market was designed to empower its users and society.
The Bitcoin city of El Salvador will have a large central plaza with a museum where exhibitions will be held on the monetary history of the country, which marked an important milestone in September 2021, being the first in the world to recognize Bitcoin as its currency. legal tender.
“There will also be smart buildings with the latest technologies, as well as a large multipurpose arena that will show events of all kinds, and will become the epicenter of concerts in the region,” said Romero.
El Salvador approves law for the issuance of the Volcano Bond
Bitcoin City will be built in several stages. The first of these will be financed with the so-called Bitcoin Bond or Volcano Bond that El Salvador intends to issue to raise $1.000 billion dollars or more. Among the initial plans of the current government of El Salvador is to issue a $1.000 billion Bitcoin Bond and allocate 50% of these to the construction of the crypto mega city.
In the middle of this month, the National Assembly of El Salvador approved a bill for the issuance of digital assets, paving the way for the issuance of the long-awaited Bitcoin Bond.
Continue reading: El Salvador approves digital assets law for the issuance of the Bitcoin Bonus
