Tech News

Blockchain wants to build a crypto city in the Nevada desert

Pinterest LinkedIn Tumblr

A cryptocurrency tycoon hopes to turn futuristic smart city dreams into reality in the Nevada desert.

And to do that, it is Requests Of the state allowing companies like his to form local governments over the land they own, giving them power over everything from schools to law enforcement.

(Geoffrey Burns) imagines Jeffrey Berns, CEO of Nevada-based Blockchains, a city where people not only buy goods and services in digital currency but also record their fingerprints entirely online – financial data, medical records, and personal data – via blockchain.

Blockchain technology is known for recording cryptocurrency transactions, but it is also being approved by some local governments for everything from authenticating marriage licenses to facilitating elections.

The company wants to start operating by 2022 in the rural county of Story, 19 kilometers east of Renault.

It is proposed to build 15,000 homes and 33 million square feet (3 million square meters) of commercial and industrial space within 75 years.

“Traditional government doesn’t offer enough flexibility to create a society in which people can create new uses for this technology,” Burns said.

He wants Nevada to change its laws to allow innovation zones, where companies have powers like those of the county government, including creating court systems, levying taxes, and building infrastructure while making land and water management decisions.

Most legislators are eager to diversify Nevada’s tourism-dependent economy, but many fear a backlash against business incentives as they struggle to finance healthcare and education.

The CEO of Blockchains said he had asked Nevada to allow him to form local government on the 67,000 acres (270 sq km) the company owned in Story County.

Blockchains originally purchased the land for $ 170 million in January 2018, and Burns said at the time: The proposed cryptocurrency city includes Blockchains headquarters, a content creation studio, esports arena, and residential properties.

Although the CEO said: he hopes to build 15,000 homes in the cryptocurrency city within 75 years, residential development is not currently allowed on most of the company’s land, and ownership appears to be limited to 3,500 homes.

And if Nevada lawmakers approve these innovation zones, three people could potentially rule the holdings of private tech companies.

This legislation is likely to affect Tesla’s plant in the same county, given the apparent affinity of CEO (Elon Musk) Elon Musk with cryptocurrencies such as Bitcoin.

Have an article/sponsored post to share? Whatsapp: +2348129656985.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
Pin It