Nevada is willing to provide ‘blockchain’ firms an opportunity to build and govern private smart cities. Yes, you heard it right.
In an apparent attempt to move the country towards highly futuristic approach, Nevada’s governor unveiled a proposal on Friday that would allow technology companies jurisdiction with powers similar to county governments. The governor argued that the silver state needed to be bold to diversify its economy and pushing back against those who have likened the idea to company towns.
“This proposal is an exciting, unprecedented concept that has a potential to position Nevada as a global center of advanced technology and innovation, while helping to create immediate positive economic impact and shape the economy of the future. As we’ve learned in the past, an emergency requires us to throw out the tried-and-true, discard the ‘How We’ve Always Done It’ manual and move on.”
Gov. Steve Sisolak
What is the Nevada Innovation Zones Proposal?
Under the proposal, companies developing cutting-edge technologies that have at least 50,000 acres (200 sq. kilometers) of land and promise to invest $1.25 billion could establish “Innovation Zones.” The zones would be governed by a board responsible for overseeing zoning, taxation, law enforcement and other government functions on their land. It would override local county regulations.
The governor’s office of economic development would initially appoint three members to govern the zone, including two required to be from the company.
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Blockchains LLC plans to build the most advanced “high-tech” community and society
While the Nevada Private Smart Cities legislation does not specifically mention the company, the proposal is geared toward Blockchains LLC, a cryptocurrency company that owns 67,000 acres of land (270 sq. kilometers) in rural Storey County. Blockchains LLC hopes to build a smart city 12 miles (19 kilometers) east of Reno that would include underground data storage bunkers, 15,000 homes and a research and development park where entrepreneurs could invent applications of blockchain technology.
AlexaBlockchain found this video on the Blockchains’ Vision for a smart city:
