A US blockchain firm has produced a module of crypto smart city which the firm has proposed to be built in the State of Nevada. Local government to be incorporated within the Storey County as the investment company has sought permission from Nevada State.
A concept paper has been revealed by Associated Press according to which Blockchains LLC has formulated a roadmap for a “crypto smart city”. It has been proposed by Blockchains LLC that a crypto city will be established in the State of Nevada. An area of 67,000 acres has been earmarked by the proposer company which would be used to house the proposed crypto smart city. The area earmarked has been proposed in the area of Reno east, which land belongs to the investment company as well.
Jeffrey Berns, who is the CEO of Blockchains LLC, has urged the State Authorities to allow similar permissions to other companies. He has asked the authorities to facilitate because there are several other companies looking to develop crypto smart cities.
However, to date, no permission has been granted by the State Authorities to Blockchains LLC.
It has been reported that if permission is given then blockchain firms will be authorized to set out their self-made laws. In addition, it will be able to develop schools and incorporate self-operated/controlled law enforcement agencies. Furthermore, the proposed smart city will be developing its own economy where the primary source of currency would be cryptocurrencies. The people residing within the confines of the proposed city will use digital currencies for buying goods and services.
It was further pointed out by Blockchains LLC that the project will not be limited to economical digitalization. Instead, the proposed crypto city house all those facilities as are usually available in any metropolitan city. Personal, medical, and financial records will be maintained on the blockchain, said the CEO of Blockchains LLC.
It was informed further that the city will be situated in the area of Reno. As per the initial infrastructure plan, at least 15 thousand houses will be developed, subject to approval from State Authorities. The construction of the project is proposed to be carried out in 2022.
Within a period of further 75 years, the investment company has planned to incorporate industrial and commercial areas within the city. The company stated that an area upto 33 million sq. ft. has been earmarked for housing commercial and industrial sectors.
Berns opined that his company has acquired 70 thousand acres of land within the County for launching a government of their own.
Senator of Nevada, Ben Kieckhefer told that he has not looked at Blockchains LLC’s proposal yet and therefore couldn’t comment on that, but he said that the idea is unique and should be considered and listened to carefully.