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A cryptocurrency mogul hopes to turn dreams of futuristic smart cities into reality in the Nevada desert.
He does this by asking the state to allow companies like his to form local governments on the land they own, giving them power over everything from schools to law enforcement.
Blockchains CEO Jeffrey Berns, based in Nevada, envisions a city where people not only buy goods and services in digital currency, but also imprint their financial, medical and personal data online through blockchain.
Blockchain technology is known to record cryptocurrency transactions, but it’s also been adopted by some local governments for everything from documenting marriage licenses to facilitating elections.
The company wants to start operations by 2022 in rural Story County, 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 provide 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, imposing taxes and building infrastructure while taking land and water management decisions.
Most lawmakers are keen to diversify Nevada’s economy, dependent on tourism, but many fear a backlash against trade incentives as they struggle to fund health care and education.
In this context, the CEO of Blockchains said he has asked the state of Nevada to allow him to form a local government on the 270 square kilometers the company owns in Story County.
Blockchains originally bought the land for $ 170 million in January 2018, and Burns said at the time that the proposed crypto city included the Blockchains headquarters, a content creation studio, an esports arena, and residential properties. .
Blockchain technology
Although the CEO has expressed his hope of building 15,000 homes in the cryptocurrency city within 75 years, residential development is currently not permitted on most of the company’s land and ownership appears to be limited to 3,500 houses.
And if Nevada lawmakers approve these innovation zones, three people could potentially govern the holdings of private tech companies.
This legislation is likely to affect the Tesla plant located in the same county, given CEO Elon Musk’s apparent affinity with cryptocurrencies, such as Bitcoin.
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