The cryptocurrency boom can lead to many intriguing efforts. In Rena, Nevada, a pot of land is currently sparking a serious debate. The area was purchased by a firm for $179m earlier in 2018. Its new owner wants to develop a new living area. Everything in this community will be powered by blockchain technology.
The Blockchains LLC Patch of Land in Reno
The state of Nevada has plenty of wide-open areas where very little vegetation seems to survive. Human habitation is nearly out of the question. Especially when the land in question is in close proximity to the Nevada desert. This particular plot of land was sold for $170m in cash in early 2018. Its new owner is Blockchains LLC, an unknown company with a very surprising long-term vision.
Blockchains LLC is owned by Jeffrey Berns. He is one of the many self-made cryptocurrency millionaires. Spending that hard-earned money in a positive manner is always a commendable approach. For Berns, the next logical step is turning his plot of land into a brand new community where people can live.
To top it all off, this new community will solely rely on the blockchain. The underpinning technology of Bitcoin will allow residents to control their own data. Berns also wants to build a new technology center on his new plot of land. This research campus will focus on blockchain and Bitcoin. A new college is to be built on the premises, as is an e-gaming arena. All of these plans are very bold in nature, but not unfeasible.
Turning the Idea Into Reality
While the vision by Blockchains LLC sounds utopic, it can effectively be realized over time. Nevada is an area of great interest to the company. Its tax benefits cannot be denied. Moreover, Berns is not shy about spending his own money to make this dream come true. Over $300m has already been allocated for offices, planning, and an ever-growing staff.
Once the project comes to fruition, the power will be given to the residents. Dividends generated by the project will be owned by a corporate structure managed by locals. This is similar to a DAO structure, albeit the exact specifics remain unclear at this time. Berns himself has no intention of getting rich by pursuing this venture.
It is not the first time an idea like this is proposed. Blue Frontiers is looking to build a floating city which follows a very similar vision. That idea has hit a few snags, although its development is still ongoing. Berns has plenty of work ahead in the form of convincing policymakers. Construction will not commence until late 2019 or early 2020.
Do you think that the Blockchain habitat concept will be successful? What effect might there be if it is? Let us know in the comments.
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