In October 2024, the Praxis project, focused on creating a cryptocurrency-friendly city, attracted funding worth $525 mln. Gate Ventures and Movement Labs are among the project's investors. The main goal is to integrate cryptocurrencies and decentralized technologies into everyday urban life, where blockchain will play a key role in management and financial transactions.
Within the framework of the project, urban infrastructure are to be rolled out, allowing residents to use cryptocurrencies for most operations. The project also includes the implementation of AI technology and decentralized control systems to enhance the efficiency of municipal and utility services.
Praxis reveals a trend whereby blockchain technologies are used not only in the financial, but also in the social sphere. The project aims to create an experimental space for studying how digital technologies can optimize municipal management and simplify the interaction of residents with the urban environment.