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wilslaw

A cryptocurrency millionaire intends to build a Utopia in Nevada

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Since blockchain L.L.C bought a large plot of land in the Nevada desert for $170 million this year, it has been a topic of local intrigue. 

 

Jeffrey Berns, the owner of the company who is also a lawyer and a cryptocurrency millionaire went on a tour and dispelled a little of the mystery. He had an imagination of a community spread over a hundred square miles, whereby schools, production studios, houses and commercial districts will be built, where the blockchain will be the center piece of this big project.

 

The blockchain started as a digital ledger, which records all Bitcoin transactions. The same way Bitcoin made it feasible for money to be transferred without utilizing a bank, Mr.Bens thinks the technology will make it possible for ordinary people to control their data.   

 

Regulators have shut down several cryptocurrency projects, hucksters have been arrested. Lack of income taxes and tax benefit in Nevada made Mr.Berns interested. But Mr. Berns is different from other cryptocurrency believers, because he is spending his own money. He claimed he had spent 300 million dollars on planning, land, 70 employees, and offices.

 

Mr.Bern maintained the fact that his aim was not to get rich. He vows to give 90% of any dividends and all decision making power for the project  to a corporate structure that will be held by future investors, residents and employees.

 

Mr.Bern's claimed that all this is what blockchains have not accomplished, but he is not discouraged. He said over the roar of the Polaris engine "I don’t know why. I just — 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.”

 

Mr. Berns succeeded in winning over local officials who are anxious for economic development. This week, he announced a MOU with NV energy, one of the main power companies of the state, in order to team up on projects, in which energy transactions would be run via a blockchain. He said there won't be any construction in the company till late 2019, after the master plan must have been put together and approved by the country.

 

In 2012, Mr. Berns learnt about Bitcoin, but another cryptocurrency known as Ethereum won over. In 2015, he bought a digital token known as Ether, in a big sale, he believes Ethereum will give people the opportunity to control their online data and identity without  companies or government's involvement.
  
Mr. Bern's belief is that security is one of the big problems that should be addressed. He intends to address this with a custom-built  system that can store people's private keys on multiple digital devices, kept in a vault. Some vaults have been purchased and he intends to build additional vaults in Nevada mountains. 
   
He also believes that another thing holding back Ethereum has been lack of real-world laboratories. He hopes his Nevada land will transform that. Mr.Berns said “This will either be the biggest thing ever, or the most spectacular crash and burn in the history of mankind, i don’t know which one. I believe it’s the former, but either way it’s going to be one hell of a ride.”


 

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