In the Nevada desert east of Reno, Blockchain incubator and investment firm Blockchains LLC is stepping up its plans to build a smart city.
Blockchains CEO Jeffrey Berns said he had asked the state of Nevada to let him form a local government on the 67,000 acres. Also added, that the company owns in Storey County in an interview with the Associated Press released Saturday. If his petition is successful. In addition to incorporating digital currency payments for goods. And services and keeping records on the blockchain. The blockchain firm would allow to operate as a “innovation zone,”. Where a company would be able to impose taxes and create courts.
Moreover, the way the government is set up now, Berns claimed, is not ideal for creating a community based on blockchain, cryptocurrencies, and other innovative technology. He suggested the crypto-city as a place “where people are prepared to start from scratch.”
Blockchains bought the land
In January 2018, Blockchains originally bought the land for $170 million. At the time, Berns said the Blockchains campus, a content creation studio, an e-sports arena. And residential properties would feature the suggested crypto city. Although the CEO said he hopes to build 15,000 homes in the crypto town within 75 years. On most of the company’s land, residential development is not currently permitted, seemingly limiting the property to 3,500 homes.
If Nevada lawmakers accept these innovation zones, three individuals could potentially “govern” the properties of private technology companies. Also, with more than 50,000 acres that also promise an investment of $1 billion. Given CEO Elon Musk’s obvious affinity for cryptocurrencies such as Bitcoin (BTC) and Dogecoin. Moreover, this legislation could potentially affect the Tesla Gigafactory located in the same county (DOGE). In the area, Amazon also has a fulfilment centre.
In addition, Berns said that by next year, he wants Blockchains to break ground on the Smart City.