Dear friends! today through this blog I am going to share some important information regarding the crypto city in Malacca Malaysia. We will see how Crypto city is going to boost the economy of Malaysia. And also we will see the reaction of the world on Malaysia Crypto city Malacca.
Malaysia Crypto City Malacca
Malacca city is now converted into Crypto city. Malacca is the state of Malaysia. Along with this Malaysia has become the world’s first country to launch a complete Crypto city.
As per the report of BloxLive.tv Malacca city is going to attract 3 Million tourists per year. These tourists will have to exchange their fiat currency with Malaysia cryptocurrency.
Malaysia Crypto city launches its own decentralized cryptocurrency named DMI Coin. If you want to use any product and service in the crypto city then you have done this With DMI coin.
Actually, the government takes tex on the cryptocurrency exchange and trading. In the crypto city, we will see direct usability of DMI coin by the local users and foreigners as well.
Hence the Malaysian government will receive a good amount of tax which will boost the economy of Malaysia in a rapid manner.
Forex Currency Import
As Malacca city is worlds first crypto city and whole world want to visit it personally. So Malaysia will receive a huge amount of forex currency.
And this will increase the value of Malaysia Local currency. The more foreign currency will come in any country, the more the value of the currency of that country will be increased in the International market.
Secure And Fast Transaction Facility
Due to blockchain technology acceptance and workable crypto monetary system, all national and international transaction will become secure and fast.
Cross border transaction fees will become very low it is an awesome benefit.
Crypto City Planning in World
Similar to Malaysia we are seeing many related concepts in the world. All are becoming part of this cashless revolution.
Crypto Town in Norway
Similar to Malaysia Malacca city, Liverstad a town in Norway is going to launch its own decentralized cryptocurrency City Coin.
City coin can be used to purchase anything within the city with this coin. This coin is becoming the most used currency in that town.
Along with this city, the coin can be used on the exchange to convert cryptocurrency into fiat currency.
Dubai Next Crypto city
Dubai is famous for its tallest buildings around the world. But now very soon Dubai is going to be the world’s third-largest cryptocurrency user country.
Former United Arab Emirates Vice President and Prime Minister Sheikh Mohammed bin Rashid had said that 50% of transactions in Dubai would start by blockchain technology till 2021.
He told this in an interview in his 2018 interview. Very soon Dubai is going to be the first country to accept cryptocurrency payment and distributor ledger technology on a large scale.
Dubai is modifying all of its existing technology and this project is known as Smart Dubai.
Through this post, we saw how the whole world is starting to use cryptocurrency in their daily lives.
Do you know the exact reason behind this? If no don’t worry I will share the few details here.
Actually, most of the countries don’t accept cryptocurrency as a payment system and remittance because of its price fluctuation.
Similarly, new projects are trying to come in the market with proper usability. Hence owners are thinking seriously on coin usability.
And they are bounding all related people with the ecosystem. Slowly they are understanding the market requirement and focusing on the main key point.
This is the main reason people are adopting Crypto city concept worldwide. I hope you understand the message given by this post.
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