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| Blockchain wants to build a crypto city in the Nevada desert |
The cryptocurrency mogul hopes to make the dream of a future smart city in the Nevada desert a reality.
To this end, he called on the government to allow companies like him to form local governments on the land they own and give them everything from schools to law enforcement agencies.
Jeffrey Burns, CEO of Nevada Blockchain (Jeffrey Berns), has designed a city where people can not only purchase goods and services with digital currency, but also record their entire financial fingerprints and financial data online via blockchain, medical records, and personal information.
Blockchain technology is known to record cryptocurrency transactions but it has also been approved by some local governments and covers everything from verifying marriage certificates to promoting elections.
The company hopes to begin operations in Story Country, 12 miles east of Reno, by 2022.
It is proposed to build 15,000 homes and 3 million square feet of commercial and industrial space within 75 years.
"There is not enough flexibility in conventional government to build a society in which people can create new uses for this technology," Burns said.
He hopes that Nevada will change its laws to allow for the creation of an innovation zone where companies have the same powers as the county government, including setting up a court system, collecting taxes, building infrastructure, making decisions in the country - and managing water.
Most lawmakers are interested in diversifying Nevada's tourism economy, but many are concerned about business incentives as they try to raise money for health and education.
The CEO of Blockchains said he had asked Nevada to allow it to form a local government of two hundred forty-five square miles in Story County.
The blockchain originally bought the country in January 2018 for $ 170 million. At the time, Burns said the proposed cryptocurrency city would include a blockchain headquarters, a content creation studio, an e-sports arena, and a residence.
Although the CEO has announced plans to build 15,000 homes in the cryptocurrency city within 75 years, most of the company is currently banned from residential development and ownership appears to be limited to 3,500 homes.
If Nevada lawmakers approve these innovation areas, three people could choose to take control of private tech companies.
Since CEO (Elon Musk) Elon Musk has a clear affinity for cryptocurrencies like Bitcoin, this legislation could affect Tesla's position at the same county plant.