The team of the American investment company Blockchains LLC wants to build a “smart city on the blockchain” in the Nevada desert.
As conceived by the creators, the city will maximize the potential of blockchain technologies. Residents will be able to carry out settlements exclusively in cryptocurrencies, and all data will be stored in a distributed ledger.
To manage the city, the project team plans to create its own government and judicial apparatus. The company wants to build 15,000 residential buildings, as well as 3 million square meters of commercial and industrial space. According to the developers’ calculations, the construction may take 75 years. The specialists plan to start work in 2022.
The company already owns 67 acres of land in the Nevada desert. The territory can be used to build a crypto city.
To get started, the Blockchains team approached the Nevada state authorities with a request to change the current legislation. The developers ask the regulators to introduce the concept of “innovation zone”. Such areas, as conceived by the representatives of Blockchains, can be used by startups to prepare and test ideas.
“Blockchains is not the only company that plans to create a crypto city. Popular American rap artist Akon is working on a similar project. He is building a crypto city in Senegal.