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>>Zanzibar is leveraging cryptocurrency to develop a city focused on digital innovation.

Zanzibar is leveraging cryptocurrency to develop a city focused on digital innovation.

crypthub

about 8 hours ago

Project Overview

The Zanzibar Cyber City will occupy 71 ha on the Fumba Peninsula and aim to host 5,000‑7,000 physical residents. It is marketed as a hub for digital nomads who can register as e‑residents without living full‑time. Founders Florian Fournier and Kristof De Spiegeleer base the model on Balaji Srinivasan’s “network state” idea, hoping to make East Africa a Singapore‑like tech enclave.

Governance and Incentives

The project secured a 30‑year lease and a partnership with ZICTIA after the president approved a Digital Free Zone law. E‑residents pay 5 % income tax, physical residents 15 %, while companies enjoy ten‑year tax holidays and no capital‑gains levy. Property titles are issued as NFT‑style tokens that trade on crypto markets, and most municipal services run on automated software from Tools for the Commons. Criminal matters remain under Zanzibar’s courts.

Global Context

Similar network‑state pilots exist in Honduras (Prospera), Malaysia, and Montenegro (Zuzalu), often funded by crypto investors. Developers plan 10‑20 linked zones that would share a common charter, resembling a decentralized United States. Critics warn that many participants lack political experience, risking repetition of historical governance failures.