Blockchains, owned by a cryptocurrency millionaire and lawyer Jeffrey Berns, bought a large plot of land in the Nevada desert in USD 170m to build a blockchain crypto community, according to the news report by The New York Times.
Having spent his legal career on class-action lawsuits mostly against financial firms, Berns learned about Bitcoin in 2012, and bought Ether in 2015’s big sale. He became wealthy to fund his utopian project, via selling crypto assets in 2017 before the market clash.
Berns was cited as saying that something inside me tells me this is the answer, that if we can get enough people to trust the blockchain, we can begin to change all the systems we operate by.
Nevada’s Storey County has only about 4,000 residents and was best known for its history of silver mining, until recently, and its modern brothels, including one owned by a county commissioner.
Berns was drawn to Nevada by its tax benefits, including the lack of income taxes.
(Berns’) Blockchains has already received preliminary county support, and is working closely with the county on a broader master plan.
He spent USD 300m so far on the land, offices, a staff of 70 people, and imagines a sort of blockchain-based experimental community spread over about a hundred square miles, where houses, schools, commercial districts and production studios will be built.
Meanwhile, Berns announced a memorandum of understanding with one of the state’s main power companies, NV Energy, to team up on projects that will run energy transactions through a blockchain.