A crypto â€œsmart cityâ€ could become a reality in Nevadaâ€™s desert, as a blockchain firm applied to make it possible. The investment company asked the state of Nevada to form a local government in Storey County.
Crypto City Aims to Host 33 Million Square Feet of Commercial Space
According to a report published by the Associated Press, Blockchains LLC wants to build the crypto city within its 67,000 acres of land located in Renoâ€™s east. But the application is not limited to Blockchains LLC.
The firmâ€™s CEO, Jeffrey Berns, wants that local authorities grant other companies the green light to do similar projects in the state.
Per the companyâ€™s CEO, if they get the approval, the firm will establish its own laws, as theyâ€™ll be granted power on building schools and even law enforcement.
The crypto city also expects to deploy an economy based on digital currencies, where residents could purchase goods and pay for services via crypto assets.
However, they donâ€™t want to limit the project to an economyâ€™s digitalization. In fact, the smart city aims to record financial statements, medical records, and personal data on the blockchain.
The city will be located 12 miles east of Reno. The proposal also aims to build 15,000 homes starting from 2022, if the firm gets the approval.
For the long term, precisely within 75 years, Blockchains LLC would like to build 33 million square feet of commercial and industrial space.
Berns commented on the idea that Nevada changes its legal framework to allow â€œinnovation zonesâ€ in the state:
Nevada Governor Already Discussed the Idea of â€˜Innovation Zonesâ€™
Although, Ben Kieckhefer, a blockchain-friendly Nevada Republican senator didnâ€™t go into in-depth details on Blockchains LLC proposal, he said the following:
The â€œinnovation zonesâ€ mentioned by Berns are not a new concept in Nevada, at least within the local political sphere. The stateâ€™s governor Steve Sisolak highlighted the idea during his State of the State address on January 19, 2021, to â€œdiversify the economyâ€ in a post-pandemic era.
What do you think about the concept of a crypto â€œsmart cityâ€? Let us know in the comments section below.
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