Following the governmental support, China Wuyi and SWT International Sdn Bhd have reportedly launched the new fintech project in the tourist segment which is said to become the leading tourist attraction destination in Malaysia. The tourist flow is expected to reach 3 million people.
According to the available information, the new blockchain city will cover more than 835 acres (3.3 sq km) near the city of Malacca, the capital of the Malaysian state of the same name. The project will be called Melaka Straits City.
The project of the city involves the construction of boutiques, hotels, schools, universities, innovative enterprises, about a hundred luxury villas. Of the total marine area, about 200 acres (0.8 sq km) will be aside for the creation of reservoirs and chalets. Another 0.8 sq km of the coastal area will host recreation areas.
Lim Keng Kai, the official representative of Melaka Straits City, said that the blockchain technology that visitors can use in this area will be exclusively a DMI platform with a DMI coin.
"When tourists visit Melaka, they will be required to exchange their money into digital currencies that they can use to pay for services using their mobile phones or computers. The DMI web application will be available on PC and the mobile applications will run on Android and iOS devices to provide flexibility regardless of the preference of the individuals."
According to the statements, the project is designed to be fully based on the blockchain technology, which will be the first of tourist blockchain-based city, which promotes the development of tourism in the country and the improvement of education.
A spokesman for Melaka Straits City said that this is a futuristic project that will also take into account the historical past of Malacca.
"We’ve planned to build a distinctive cultural street in the centre of the city. It will be inspired by the styles of different colonial eras and is going to make tourists familiar with Malaysian traditions and history."