New northern Philippines airport to support a ‘Crypto Valley of Asia’
New airports are often considered in conjunction with some form of commercial attachment, varying from a basic trading estate to an airport city and sometimes - fancifully - an aerotropolis.
The Cagayan Economic Zone Authority (CEZA) plans to develop a new USD80 million airport in the Cagayan Special Economic Zone and Freeport to attract further investment in the zone. (The Cagayan Economic Zone & Freeport is a special economic zone in Cagayan Province, northern Luzon, in the Philippines.)
The 'Crypto Valley of Asia' concept was jointly developed by CEZA and the private developer Northern Star Gaming and Resorts to create a secure environment for cryptocurrency trading and blockchain developers.
It is rare to find any authority as bold as to plan an airport where the existing airport is solely a domestic one to create an environment for cryptocurrency trading and blockchain developers.
That is exactly what is happening in the Philippines, where a remote northern part of the country is seeking to take on countries such as Japan, Korea and Singapore to promote these activities.
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