A City in Nevada To Be Built On Blockchain. Jeffrey Berns, a cryptocurrency millionaire, has spent $400 million on an enormous plot of land in the Nevada desert of the United States. With an intention of building a utopian community, based on the Ethereum blockchain technology.
Berns is the CEO of Blockchains LLC. This is a company that bought over 67,000 acres (27,115 ha) in northern Nevada earlier this year. Aged 56, Berns made millions buying and selling Ether tokens. They use this on computing platform Ethereum before their value crashed earlier this year.
Berns has envisaged a new city spread over about 260 square kilometers, where houses, schools, commercial districts and production studios will be built on Blockchain. Blockchain will be the heart of this giant project. With real-world laboratories and research helping to push the boundaries of this emerging technology.
Brian Sandoval, the governor of Nevada, named this city as “Innovation Park”. It neighbors major tech giants like Tesla, Google, and Apple. The New York Times reports say that the Berns’ company Blockchain LLC bought the property for around USD 200 million.
A City in Nevada To Be Built On Blockchain. Berns funded the whole project with the returns received from the investment in Ethereum in 2015. (This investment turned out to be the most profitable initial coin offering.) Additionally, Berns has purchased a lot of assets. This includes military bunkers that will safely store physical digital assets. Also, acquire an entire fortress in Switzerland as well as one in Sweden. Berns stated that he has also bought a bank that provides fiat friendly solutions for crypto. After he revealed himself to be one of the customers of Coinbase this move acted as a response to his former bank’s decision to block his cards.
Berns told New York Times that he chose Nevada mostly due to the tax benefits (such as no income taxes). He stated, “Something inside me tells me this is the answer, that if we can get enough people to trust the blockchain, we can begin to change all the systems we operate by”.
The Innovation Park will be split into two parts, one being a residential smart city with homes and schools, and the other one is a commercial sector with campus for researching emerging technologies such as blockchain, AI, 3D printing and nanotechnology. The tech campus will also feature an eSports arena to host international competitions.
Communal living facilities with shared amenities, civic centers, and green courtyards to gather and develop ideas, are all promoted in the proposal.
There are also plans that include self-driving electric cars and a drone delivery system, adding unparalleled technological comforts. Ethereum will be the city’s common denominator with every resident and employee provided with an Ethereum address.
“Our land in Innovation Park will be a smart city with a decentralized blockchain infrastructure underlying all interaction,” Berns said in a statement.
“Efficiency, sustainability, transparency, and provenance will not compromise, but guaranteed.”
“Multiple innovative technologies will change the way its residents interact on a daily basis. Blockchain technology will be at the center of it all – keeping systems honest, fair and democratic.”
This will either be the biggest thing ever or the most spectacular crash and burn in the history of mankind, I don’t know which one.
Blockchains LLC chief executive Jeffrey Berns told The New York Times