The Chinese government supported the construction of a blockchain-city based on Malacca, a city located on the shores of the same-name strait in Malaysia. This is stated in a press release published by CoinTelegraph.
The project was developed jointly by the construction company China Wuyi and the investment network SWT International Sdn Bhd. His goal is to transform Malacca into a blockchain-city called Melaka Straits City. At the first stage, the project founders plan to attract about $ 120 million of investments.
The architecture of the future city was designed by CPG Corporation – a company known for projects such as the Singapore Parliament Building and Changi Airport.
The infrastructure of the city will be completely based on the blockchain technology . In particular, the DMI platform offering the token of the same name will be used for this.
The DMI Token will be used to pay for government services, and tourists can exchange their fiat currencies for it.
According to a press release, Melaka Straits City will be the first blockchain-city in Asia.
Recall that in November, Jeffrey Berns, a cryptoinvestor and the owner of Blockchains LLC, invested $ 300 million in building a blockchain city in the Nevada desert.
Publication date 04/29/2019
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