A Cryptocurrency Millionaire Wants To Build Blockchain Smart City In Nevada

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A Cryptocurrency Millionaire Wants To Build Blockchain Smart City in Nevada

According to the New York Times, this year an enormous plot of land in the Nevada desert was brought by a company named Blockchains LLC for $170 million in cash with having no strong history. Last week ‘Jeffrey Berns’, a lawyer and cryptocurrency millionaire who owns the company climbed into a Polaris off-road vehicle to check the sprawling property and relieve the mystery.

Jeffrey plans to build an experimental community where schools, houses, production studios, and commercial districts will be built over about 100 square miles. The highlight of this gigantic project will be a new kind of database which we all know with the name – “Blockchain”.

During the ride, the driver of Berns stopped the Polaris on a high desert plateau where he later pointed to the major points of his dream community. Pointing towards south he said, “You see that first range of mountains”. He further said that “Those Mountains are the border of our South Valley. That’s where we’re going to build the high-tech park,” a research campus that would cover hundreds of acres. Further, there are plans for an e-gaming arena and a college too.

A Cryptocurrency Millionaire Wants To Build Blockchain Smart City in Nevada

Berns’ ambitions at this point of time might sound strange or even fantastical but right now it fits perfectly into the idiosyncratic world of blockchain and crypto.

Berns believes that just as Bitcoins has made it easier to transfer money easily without using a bank, blockchain will allow ordinary people to properly control their own data without relying on government or big companies.

What has attracted Berns to Nevada are its tax benefits and the lack of income taxes. Berns mentioned that till now he has spent almost $300 million on offices, land, planning and a staff of 70 people. And now by buying 67,000 acres of undeveloped land involves a bit of risk taking. He also shared that his ambition in life was not to become richer or to become a real estate magnate. He is also ready to give away 90 % of any dividend that has been generated from the corporate structure that is held by employees, residents, and future investors. Along with that, he is also ready to give always all his decision making powers.

The new structure that he is going to introduce will operate on blockchain technology and called as a distributed collaborative entity. Here, all the rights and voting powers of the people will be recorded in the digital wallet. Ethereum is what he thinks will make his community a giant real estate project. Every employee and resident will have some amounts of Ethereum addresses which will later be used by them to store any personal data or do voting on local measures.

Ethereum, in short, will offer people a way to control their online data and identity without getting interfered by companies or any governments.