The Lost Records of Shantou: A Case for Blockchain Tokenization

In the Guangdong Province of China, Shantou was once a flourishing port city where European traders had their businesses and homes. In the early 1900s, they built a brand new central district near the river in Shantou with consulate buildings, apartments, bars and restaurants. It was a spectacular mix of Victorian English and classical Chinese styles and soon became a mainstay and provincial destination.

The Old Central District in Shantou

Over the years, however, Shantou lost its status as a top commercial hub, as bigger ports emerged in nearby Shenzhen and Guangzhou. As foreign traders left the city, the central district fell into a state of disrepair. Without the once thriving businesses, the local Chinese owners couldn’t maintain their own buildings and, as generations passed, descendants of the owners moved to newer parts of town.

Today, Shantou’s old central district is a dismal, rundown slum. You can still see the charm in the vintage architecture, but facades are falling to the ground and walls are crumbling. As random tourists stroll the lanes taking photographs, they wonder why the owners haven’t paid for renovations or sold the buildings to new owners who could fix them up.

Read more ... source: Bitcoin Magazine

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