Blockchains L.L.C. proposes 'Smart City' east of Reno

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The founder of Blockchains L.L.C. revealed his plans for his plot of land at the Tahoe-Reno Industrial Center during a keynote speech in Prague on Thursday, November 1.

Founder Jefferey Berns says he plans to build a “Smart City” that is based on blockchain technology. This "Smart City" would include houses, apartments and condos, banks, markets, stores and schools.

'Blockchain' allows the transfer of money, property, and goods directly without a third party involved, such as a notary or bank.

Erin Piscini, with financial firm Deloitte, told News 4-Fox 11 in February that blockchain is like the music-sharing service 'Napster', but without the music.

Exchanging cryptocurrency, like Bitcoin, can be done with this technology without using a bank.

The lot where the small city is expected to be built is more than 60,000 acres, roughly the size of Reno.

News 4-Fox 11 reported in January that Blockchains L.L.C. purchased the land at the Tahoe-Reno Industrial Center; the New York Times reported today that it sold for $170 million in cash.

Berns says this "Smart City" would also include a 1,000 acre blockchain campus that focuses on the advancements of several different technologies including artificial intelligence, nano-technology, and 3D printing.

He also mentioned the partnership he's forged with NV Energy, saying that the relationship with their customers will change for good.

There is no word when construction will begin for this large project.

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