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- Blockchain LLC is planning to build cryptocurrency and blockchain-based futuristic city
- The CEO of the firm is willing to create an innovation zone where users can start from scratch and bring new uses of their technologies
- To allow the innovation zone to be built in Nevada, the State will have to give full authority to landowners
Cryptocurrency magnate in the Nevada desert is planning to turn dreams of a futuristic smart city into reality. To achieve the dreams, the firm has asked the state to allow such firms to be a government on lands they own. Such powers will grant the crypto firm to control everything from schools to law enforcement.
Cryptocurrency and blockchain-based futuristic city
According to Jeffrey Berns, the Blockchain LLC CEO based in Nevada, he wants a city where individuals log their entire online footprint on the blockchain, including cryptocurrency transactions. Such footprints mean, financial statements, medical records, and personal data. Berns’ idea wants to gain enough flexibility from the traditional government to create a community where individuals can invent new technology uses. Bern mentioned that there needs to be a place on the earth where individuals can start from scratch and do things in a new way.
Change in laws are needed to allow innovation zones
Bern wants the state to change laws to allow firms power like those of a country government to allow innovation zones. According to Bern, the firms should have all the powers to create a court system, imposing taxes, and building infrastructure while making land and water decisions. In such so-called innovation zones, everything would be working on cryptocurrency and blockchain technology. However, the Nevada lawmakers seem sceptical regarding the prospectus. However, the legislation has not been formally filed or discussed in any public hearings.
Innovation zones idea gained a severe consideration
Many in Nevada want to diversify their tourism-dependent economy but fear backlash. The latest proposal is entirely different from the more significant tax rebates growing wary of offerings like the $1.3 billion given to Tesla to build Nevada battery factory. Last month, Steve Sisolak had mentioned plans to rebuild a more diversified economy. Indeed, the innovation zones idea of Blockchain LLC is a vital part of Steve Sisolak. The governor’s office declined to further comment on the idea, though as Sisolak is backing the idea could garner serious consideration in Nevada’s legislative body. The other lawmakers are ready to hear the idea as Nevada is built upon new ideas, and the innovation zone idea seems big.
