Imagine a smart city right in the heart of Nevada desert, which I presume should not be that difficult to imagine even for a lame person. But what if I tell you that this smart city will be based on a blockchain project. Hmn… now that is probably like stretching your imagination a bit too far.
However, Cryptocurrency millionaire Jeffrey Berns doesn’t seem to mind in stretching his imagination. In fact, the lawyer cum millionaire has already gone ahead in executing what can only be termed as a ‘crazy idea.’
After his company Blockchains LLC having already bought enormous acres of land in the Nevada desert, it has now also held discussions with local officials in order to officially kick start the project at the earliest. If everything goes well then, according to Berns, the work for the world’s first blockchain smart city should start sometime next year.
But what will this Blockchain smart city revolve around.
If you thought that this Blockchain smart city is seeking to build a community that will indulge in Bitcoin transaction then you are completely wrong. This blockchain smart city will primarily not deal with Bitcoin or any other cryptocurrency transactions.
It will primarily deal with a thing that has become immensely important in today’s time: Data. Blockchain essentially stands out for bringing forth transparency and giving all the control to the participants, thereby eradicating the need for banks and third party in the transaction.
Berns claims that he wants to leverage these same advantages in allowing people to give complete control over their data. In a nut shell, in his blockchain smart city government and third party won’t have any scope to interfere with your data.
Berns smart city, by the way, will offer all the basic facilities like schools, hospitals, college etc. This smart city won’t be a real estate project but a purely blockchain project, as has been claimed by Berns himself.
But what if this blockchain project turns out to be another big scam. Notwithstanding the hype, cryptocurrency have been widely associated with Ponzi schemes. No less than the governments of several leading economies have termed cryptocurrency as nothing but ‘Ponzi schemes.’
However, I would personally hesitate to label Berns blockchain projects as potentially Ponzi scheme. The reason for my hesitation is due to the fact that Berns has not collected any money from people for this project. The millionaire will be completely investing his own hard earned money in this project.
Lastly, Berns idea of building a smart city based on blockchain to protect our invaluable data may today appear spectacularly vague and obscure. However, as the world slowly wakes to the importance of data protection amid the ongoing digital revolution, Berns project doesn’t seem like a misplaced idea either.