A cryptocurrency millionaire, Jeffrey Berns, has made plans to build a blockchain utopia in Nevada which translates into a project worth millions of dollars. The first step was to acquire 67,000 undeveloped acres of land for about $170 million where an experimental community with parks, schools, houses, and studios will be built.
If you’re wondering where all that money came from, here’s what you should know. Bern is a lawyer and owner of the company, Blockchains LLC. He bought a large quantity of Ether in 2015 and held it for two years. In 2017, he sold them even before the price crashed leading to his immense wealth today.
While many feel that his motive is to take advantage of the tax benefits in Nevada, Peurto Rico, Bern believes that he is more focused on giving users control over their Bitcoin and Ethereum private keys. In line with that, users of the Blockchain technology can then store their data instead of relying on the current institutions that control it.
Bern also expects that this will either be the biggest thing that has ever happened in the history of humanity or another spectacular crash that is just waiting to happen. Whichever is the case, we have a firm believer in the future of Blockchain who has already had about 70 staffs to back him up.
Additionally, this crypto millionaire aims to generate a distributed collaborative entity that will give residents and any other future investor, the ability to store their ownership rights as well as their voting powers in a digital wallet. This will be one that is not controlled by a government or an organization.
It might also interest you to know that Bern’s property surrounds the Industrial parks owned by Google and other companies like Apple and Switch. Consequently, the residents of Storey County are expecting an economic development within the next few years which can only be attributed to insights of this nature.
During the week, it was announced there is a memorandum of understanding with NV Energy, which is a power company in the State. This is in a bid to collaborate and create projects which will allow energy transactions to be made via Blockchain.
Bern wouldn’t be the first to build a community only run by cryptocurrencies and blockchain technology since we’ve had a group of entrepreneurs tries to do the same early this year. This was another “Puertopia” movement led by Brock Pierce, the director of the Bitcoin Foundation and co-founder of blockchain start-up Block.