The blockchain incubator and investment firm Blockchains LLC are stepping up plans to build a smart city in the Nevada desert east of Reno.
In an interview with the Associated Press published on Saturday, Blockchains CEO Jeffrey Berns said he had asked the state of Nevada to let him form local government on the 67,000 acres the company owns in Storey County. If its petition is successful, the blockchain company is allowed to act as an “innovation zone” where a company can levy taxes and set up courts – in addition to incorporating digital currency payments for goods and services and keeping records on the blockchain.
Berns claimed the way the government is now set up is not ideal for creating a community based on blockchain, cryptocurrencies, and other innovative technologies. He suggested the crypto city as a place “where people are ready to just start over”.
Blockchains originally bought the land in January 2018 for $ 170 million. At the time, Berns said the planned crypto city would include the Blockchains campus, a content creation studio, an esports arena, and residential real estate. Although the CEO said he hopes to build 15,000 homes in the crypto city within 75 years, residential development is currently banned on most of the company’s property, apparently limiting the property to 3,500 homes.
If Nevada lawmakers accept these innovation zones, three people could potentially “rule” the properties of private tech companies with more than 50,000 acres, also promising a $ 1 billion investment. This legislation could potentially impact the Tesla Gigafactory in the same county, as CEO Elon Musk has an obvious affinity for cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE). Amazon also has a fulfillment center in the region.
Berns said he wanted blockchains to gain a foothold in the smart city by next year.
