Blockchain Incubator and Investment Company Blockchains LLC Increase Plans to Build a Smart City in the Nevada Desert East of Reno.

In an interview with the Associated Press published Saturday, Blockchains chief Geoffrey Burns said he had asked the state of Nevada to allow him to form a local government on the 67,000-acre company owned in Story County. If his request were accepted, the blockchain company would be allowed to operate as an “innovation zone” where the company could tax and establish courts – in addition to including payments in digital currency for goods and services and maintenance of records on the blockchain.

Burns stated that the current government structure is not ideal for building a society based on blockchain, cryptocurrencies and other innovative technologies. He suggested a cryptocurrency city as a place “where people are ready to start from scratch”.

Blockchains originally bought the land for $ 170 million in January 2018. At the time, Burns said the proposed crypto city would include a Blockchains campus, a content creation studio, a sports arena and residential real estate. Although the CEO said he hopes to build 15,000 homes in the cryptocurrency city within 75 years, housing construction is currently banned in most of the company’s lands, and ownership appears to be limited to 3,500 homes.

If lawmakers in Nevada pass these innovation parks, three people could “manage” more than 50,000 acres of private technology companies, which also promise to invest $ 1 billion. This law could affect the Tesla Gigafactory, located in the same county, given CEO Elon Musk’s apparent affiliation with cryptocurrencies such as Bitcoin (BTC) and Dogecoin (DOGE). Amazon also has a fulfillment center in the area.

Burns said he wants the blockchain to be the backbone of a smart city by next year.