Why Most Crypto Cities Fail

While there have been multiple attempts over the years at building “crypto cities” — special zones that rely on blockchain technology to function —most experiments have failed, and crypto executives think they know why. 

One of the more recent high-profile projects was Akon City, the brainchild of Senegalese-American singer Akon. Announced in 2018, it was supposed to be a $6 billion smart city with a crypto-powered economy, but was officially abandoned in July.

Satoshi Island, a project to acquire an entire island near Vanuatu, launched in…