A crypto smart city could become a reality in the Nevada desert as a blockchain company applied for it. The investment company asked the state of Nevada to form a local government in Storey County.
Crypto City plans to house 33 million square meters of commercial space
According to a report released by Associated Press, Blockchains LLC plans to build the crypto city on 67,000 acres of land in east Reno. However, its application is not limited to Blockchains LLC.
The company’s CEO, Jeffrey Berns, wants local authorities to give other companies the go-ahead for similar projects in the state.
According to the company’s CEO, if approved, the company will establish its own laws as it will be empowered to build schools and even law enforcement agencies.
The crypto city also expects the creation of a digital currency-based economy where residents can buy goods and pay for services through crypto assets.
However, you don’t want to limit the project to digitizing an economy. In fact, the smart city aims to record financial reports, medical records, and personal data on the blockchain.
The city will be 12 miles east of Reno. The proposal also aims to build 15,000 homes from 2022, when the company receives approval.
In the long term, exactly within 75 years, Blockchains LLC wants to build 33 million square feet of commercial and industrial space.
Berns commented on the idea of Nevada changing its legal framework to allow for “zones of innovation” in the state:
We bought 70,000 acres in the county. What did you think we would do? (…) In order for us to be able to take risks and be lithe, nimble and figure things out like you do when you design new products, that’s not how government works. So why not just create a government that lets us do these things?
The governor of Nevada has already discussed the idea of ”innovation zones”.
Although Ben Kieckhefer, a blockchain-friendly Republican Senator from Nevada, didn’t go into detail on Blockchains LLC’s proposal, he said the following:
I don’t know enough yet to say whether or not I’m happy with this as the next step. But look, it’s a big idea, and Nevada was built on big ideas, so let’s hear it.
The “innovation zones” mentioned by Berns are not a new concept in Nevada, at least in the local political sphere. State Governor Steve Sisolak highlighted the idea during his state-of-the-art speech on January 19, 2021, to “diversify” the economy in a post-pandemic era.
What do you think of the concept of a crypto smart city? Let us know in the comments below.
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