Mr. Lee Sang Yoon, CEO of Locus Chain Foundation, and Dr. Riadh Khalifa Toukabri, President of Economic City of Tunisia, signed an agreement with LCF Singapore headquarters in the presence of senior officials from both sides.
TEC is jointly owned by Tunisia and Saudi Arabia and is a large-scale project located on the eastern peninsula of Tunisia. It has a total area of 90 square kilometers and will cost US$50 billion in the first decade. The city consists of 14 large-scale theme areas. It will become an international business and technology hub connecting Europe, Africa and Asia. It will also serve as a gateway to Europe for Africa and promote the economic growth of the Gulf Cooperation Council countries.
The cooperation agreement aims to apply the blockchain platform to the entire urban construction project as the basic technology and settlement currency for various industries such as finance, communications, medical care, shopping, automated vehicles, and artificial intelligence. The new cooperation is an entrepreneurial giant and the fourth generation. The meeting place of technical masters. It aims to digitize the commercial and public sectors through a large economic and urban development project on the east coast of Tunisia.
The concept of a smart city project was founded by Prince of Saudi Arabia, Fahd Bin Muqrin Bin Abdulaziz Al Saud, Chairman of Al Hermas Global Group, and Dr. Riadh Khalifa Toukabri. Dr. Riadh served as the president and the Prince served as chairman of TEC.