A cryptocurrency billionaire called Jeffrey Berns is making plans to build a blockchain community in Navada. Already, he has spent millions of dollars on land near Reno. He intends to use that land to build a community that is based on blockchain technology. The land he bought is bigger than Reno. It was purchased by Berns’ company, Blockchains LLC, for $170 million last year. The intriguing part of it is that the company paid the full amount in cash.
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His vision is to build an experimental community that is made up of schools, houses, stores and everything you have in a normal community. The only difference is that the community will be based on blockchain technology. Last week, Berns took a tour around the plot of land as he visualized his vision. After the tour, the 56 year old billionaire talked about his dream. In his words:
“Can you see the first range of mountains all the way south? These mountains mark the border of our south valley. It is going to be the space for our high-tech park. We also intend to build an e-gaming arena and a college.
An Utopian Dream Or A Get Rich Quick Scheme?
Ever since the blockchain technology was introduced with the development of Bitcoin, many people have seen it as an opportunity to make quick money. For this reason, regulators have been keeping a close eye on the industry shutting down many projects and warning investors about the dangers of this emerging technology. Many billionaires like Berns love Navada because it’s tax policies are friendly. While there isn’t a lot to see yet, Berns has already started making office buildings. Could his plans be for the good of the people and not just for personal gain?
While his project can easily pass as a means to get more money, this may not be the case as he is financing the project from his purse. So far, he has spent only his money which has summed up to about $300 million on land, staff, planning and offices. He insists that his goal is not to make more money or become a real estate magnet but to develop an Utopia where everyone will have equal rights that will be enforced on the blockchain.