A cryptocurrency millionaire has revealed his designs for a utopian community in the Nevada desert run completely on blockchain technology.
The New York Times reported that the man behind the project, Jeffrey Berns, is planning a city that would run on the Ethereum blockchain, a decentralized infrastructure that he says could provide the foundation for a community independent of the capitalistic world we live in.
Instead of government and big corporations in control, the blockchain-based city would be designed to put power in the hands of the people and use cryptocurrency as the coin of the realm.
"The city aims to showcase how business development, residential living and commerce can flourish alongside world changing technologies," says a description on the websites of Tom Wiscombe Architecture and Ehrlich Yanai Rhee Chaney Architects, two designers of the community.
"Multiple innovative technologies will change the way its residents interact on a daily basis and blockchain technology will be at the center of it all — keeping systems honest, fair and democratic," the description adds.
The area Berns has planned for his city comprises 67,000 acres of land in the Nevada desert that Gov. Brian Sandoval has dubbed "Innovation Park." It surrounds an industrial park with Tesla's Gigafactory and buildings of major tech giants like Google and Apple.
The company that Berns founded, Blockchains LLC, bought the property earlier this year for $170 million, according to The Times. Berns could fund the entire project — including the $300 million he's already put in — with money he acquired from investing in ether, the cryptocurrency powered by the Ethereum blockchain, in 2015.
"Something inside me tells me this is the answer," Berns told The Times, "that if we can get enough people to trust the blockchain, we can begin to change all the systems we operate by."
Berns said that B...