USA: Cities to be run by private companies soon?

USA: Cities to be run by private companies soon?

An idea that looks like a dystopian novel. In the United States, Nevada Governor Steve Sissolak plans to sell land to innovative companies.

In fact, its purpose is to revive the local economy, leaving full powers to companies. According to an article in Las Vegas Review-Journal Discovered by International mail, Large technology companies can form some kind of local government on the land sold to them. If the idea is successful, they can tax and set up courts.

To allow this concession, the companies involved would have to pay $ 250 million for the unbuilt land and then invest $ 1 billion over 10 years. This land will be over 20,000 hectares. By comparison, Paris covers an area of ​​10,500 hectares.

Economy centered on cryptocurrency

The purpose is clear: to succeed in attracting new businesses to help the local economy thrive and create tens of thousands of jobs.

A company is already on the verge of meeting all the criteria. Blockchain LLC, led by billionaire Jeffrey Burns, plans to create a “smart city”. So it may eventually gain semi-independent status.

Americans in the area can vote on the spot, get a functioning police or fire department, and schools for children. The city’s economy created by Blockchain LLC is centered on a type of cryptocurrency, the “staple coin”, a virtual currency denominated in dollars.

Note that 3 persons appointed by the Governor will be responsible for overseeing the various independent zones in question. It is important to know the reaction of Nevada residents as immigrants.

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Cory Weinberg

About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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