With Chinese backing, the Malaysian tourist city of Malacca plans to transform 835 acres into a new blockchain-powered area it will call Melaka Straits City, the Express reports. The goal is to create the ‘tourist blockchain-destination of the future’ by developing an area powered by blockchain infrastructure and cryptocurrency payments.
The plan will use the DMI coin for all payments within the city, including public service transactions. Melaka Straits City representative Lim Ken Kai explained how it will work for tourists:
"Tourists in the city will have to exchange their money for digital currencies, which they can use to pay for services using their mobile phones or computers.
The DMI web application will be available on the PC, and the mobile applications will run on Android and iOS devices to provide flexibility regardless of user preferences.”
The city and its Chinese government partners have the lofty goal of making Malaka Straits City a leading tourist destination in an area that already relies heavily on tourism to sustain its economy. Estimates from the Chinese Ministry of Tourism anticipate about 3 million visitors a year to the new city once the project is completed.