Bitcoin is being invested and used in many countries around the world. But there is one country in Central Asia where there are plans to build a whole city on the bitcoin.
The city, called Bitcoin City, is being built in El Salvador in a coin-like circle and where no income, property or payroll taxes will apply.El Salvador's vice president, Boquela, said the city would have residential and business areas, a restaurant, an airport, a port and a rail service.
Speaking to participants at the end of the Bitcoin Promotion Ceremony on Saturday, President Bokele said that Bitcoin City would be powered by a volcano, according to Reuters.
The business website Quinn Desk quoted the president as saying that the city would be close to a volcano along the Gulf of Fonseca.
The government plans to have a power plant near the volcano that will provide energy for the city and bitcoin mining.
The president added that El Salvador's government intends to issue a ارب 1 billion "bitcoin bond", of which کروڑ 500 million will be used for the city's renewed and mining infrastructure.
The remaining کروڑ 500 million will be used to buy more bitcoins.
