TV station broadcasted the construction site of Bitcoin city in El Salvador.
The producers of the television program Criptovisión, Iñaki Apezteguía and Martín Ferratto, presented a new program in which they arrived at the construction site of the Bitcoin city, or Bitcoin City, in El Salvador (according to an announcement made last year by President Nayib Bukele).
What the Producers of the TV Show Say
Iñaki Apezteguía explained that, “We went to Bitcoin City, where the city announced by Bukele is going to be built. We wanted to see where they would install it. It is in a region close to the border between El Salvador and Guatemala, with a volcano nearby.”
Martín Ferrato, on the other hand, commented that, “We were looking at the area. There, in theory, the city would begin construction. There are expectations that construction could begin this year. The shape will be like a Bitcoin coin. It will be a technological city”.
Iñaki Apezteguía said that the journey from San Salvador to the future location of Bitcoin City was through a road in poor condition, and many towns were crossed. “It was an experience. What we were realizing as we moved away from the capital is that there is more and more ignorance and less education. And a lot of expectation for what Bitcoin city is going to represent for that area”, he indicated.”
It is worth mentioning that, recently, the producers of the Criptovisión television program also made a documentary called “Volcanic Gold”, in which they show Bitcoin mining in El Salvador, with renewable energy.
Nayib Bukele’s Vision of Bitcoin City
Several months ago, the Central American nation began to adopt Bitcoin as legal tender, a historic event in the field of cryptocurrencies. Furthermore, President Nayib Bukele recently announced the construction of the world’s first Bitcoin City.
According to Bukele, Bitcoin City will have the shape of a currency, as well as geothermal energy, restaurants, shopping areas, residential areas, and a central square in the shape of the Bitcoin symbol. It will even have its own airport, thus giving meaning to such an innovative plan that reminds of what at the time Alexander the Great wanted to build with his circular cities. We will find all of this in the coastal area of Conchagua, in the department of La Unión, where it will coincide with the Conchagua volcano, which will provide energy to the city through a geothermal plant.
The news of Bitcoin City took some by surprise and others with a lot of skepticism. For the most optimistic, the construction of said city will offer a world of opportunities for all. Its development would make the country an attractive place for foreign investors, who could invest significant income into an economy that once suffered from financial chaos.
The main disadvantage that this would attract is that Bitcoin City is probably an exclusive territory that will not be accessible to all its citizens. As it is a tax-free territory, only those with sufficient capital will be able to acquire the greatest proportion of opportunities that arise there.
Finally, everything seems to indicate that El Salvador has taken an important step in its development. Conchagua is one of the most neglected areas in terms of infrastructure and now it will have the opportunity to emerge as a prosperous territory, something that aims to spread throughout the Salvadoran territory to bring possibilities for economic growth. It remains to be seen how events will unfold.
By Audy Castaneda
