Blockchain investment and incubator firm, Blockchains LLC intends to build a smart city in the eastern Nevada of Reno.
In an interview with the Associated Press, CEO of Blockchains Jeffrey Berns has asked permission from Nevada to form a new community in Storey Country located 19 kilometers east of Reno.
Blockchains bought the 67,000-acre land for $ 170 million in January 2018 and it is expected that the groundbreaking will begin in 2022.
Berns explained that the existing government structure is still not suitable for the blockchain community, cryptocurrencies and various other innovative technologies.
Berns also wants Nevada to change its law, allowing for ‘innovation zones’, where companies have the same rights as the county administration including building a judicial system, imposing taxes and developing infrastructure.
Judging by the proposal paper submitted at the beginning of the purchase, the firm plans to build 15,000 homes, as well as 33 million square feet of industrial and commercial space within 75 years.
Residents of the city will not only be able to make purchases and get services using digital currency but also be able to register their personal identities such as financial statements, health records and personal information on the blockchain with a footprint.
This effort also has the potential to affect Tesla Gigafactory and Amazon located in the same area. Again after Tesla company founder Elon Musk invested in Bitcoin (BTC) during the day and bought some Dogecoin for his son.
