Cryptocurrency millionaire is building his own city. From scratch.
Work begins in 2019 on a new town in the US. One that’s got blockchain at its heart…
The man behind the company Blockchains LLC went shopping earlier this year. And amongst the usual day-to-day necessities that he picked up on his travels, he bought himself a small town.
Or at least the building blocks for one. Jeffrey Berns, who owns the blockchain company Blockchains LLC, spend some $170m on a large piece of land in Nevada, America. And he now intends to build on it what’s being described as an ‘experimental’ community, spanning over 100 square miles in space.
The new community will include schools, offices, homes, commerce, and that absolute essential for any idyllic new town, an e-gaming arena.
Underpinning the new down will be blockchain technology, that’s going to be used at the heart of its systems. The project is going through the process of getting the necessary approvals to move forward, and it doesn’t appear that’ll be a massive problem. The Nevada area he’s zeroed in on has local officials very keen for redevelopment, and also very light tax laws.
Berns has thus far pumped some $300m into the project, and has put together a staff roster of some 70 people. Furthermore, as the project progresses, he says he’ll hand over decision-making power, and 90% of dividends, to the structure put in place to oversee the town (the structure being made up of employees, residents and future investors). That goes to the heart of the blockchain ethos Berns wants to imbue the community with. To the point where a digital wallet system will keep track of everyone’s voting powers and ownership rights.
Construction is earmarked to begin next year on the new town.