There is no doubting that people have become quite tribal and patriotic to their selected cryptocurrencies. The original ‘civil war’ between Bitcoin and its fork Bitcoin Cash proved this. Many believed that BTC was no longer the real thing and jumped to a blockchain with bigger blocks, defendeding it vehemently.
This tribalism stems from what cryptocurrency can offer. It is a tool that has the potential to allow people to ‘move off the grid’ and become sustainable in an all together new economy that does not rely on banks, regulators, governments or other legacy institutions.
This utopic – or dystopic? – future seems a little out of the realms of possibility as it currently stands. Bitcoin and related cryptocurrencies have, for the most part, realised that for adoption they need to be in line with regulators; but, there are areas, valleys, towns, and even cities looking to go full crypto on their own.
People are starting to imagine, and put into play, cities and other settlements where payments for goods and services, data exchange between municipal institutions, work, transport and infrastructure projects – almost everything is based on blockchain technology.
Many already know about the crypto-friendly valley of Zug, in Switzerland, which is trying to showcase a progressive settlement where blockchain is king, but there are significant Chinese government-backed companies looking to build an entire blockchain city off the coast of Malaysia, as well as Liberstad in Norway, not to mention a Whites-only settlement in South Africa trying to run on their own crypto.
The new Silicon Valley
Zug is often seen as a shining light in terms of blockchain adoption and progression. The valley in the Swiss Alps has been dubbed the new Silicon Valley of Blockchain with its Crypto Valley Association helping take this small village into a new era.
Zug’s low tax attracts many multinationals as the region charges just 14 percent corporation tax. It’s one…