Jeffrey Berns a crypto millionaire and CEO of Blockchains LLC secured a deal of about $170 million that earned him around 67000 acres of land in Nevada. Jeffrey Berns has planned to make a city that would run entirely on the principles of Blockchain technology.
Although this city will not have its own government it will still give power to the people and crypto-tokens will be used as the currency.
The city aims to highlight how using Blockchain technology in various aspects of business commerce, and day-to-day lives can bring revolution to the conventional way of life.
This ‘city’ covers the area around Tesla’s Gigafactory and buildings of technology companies like Google and Apple. Jeffrey has already invested around $300 million on buildings and the staff consisting of 70 members.
Berns has supposedly earned this wealth through investing in ETH three years ago. He believes that this city will convince people around the globe that Blockchain technology has more advantages to it than its drawbacks.
He added that Nevada was a prime location for such a city as its residents had to pay fewer taxes.
The city will be divided into two parts one for the residents while the other part will be used for researching further applications of this technology while working to improve it.
It aims to make the commerce sector as secure as possible through combine implementation of artificial intelligence (AI), blockchain and nanotech.
The residential area will have cars working on AI and an automated delivery system. School buses and other such vehicles will also be using the same technology. The city will likely run on renewable energy.
The ideas that are implemented and those that are amended remains to be seen. However, this is a huge leap towards the implementation of blockchain technology.