In Nevada, tech companies will be able to form their own equivalent of counties

In Nevada, tech companies will be able to form their own equivalent of counties

In the US state of Nevada, a new bill has been introduced that allows technology companies, including those working in the field of blockchain, to form their own governments at the local level.

As part of the bill, it is proposed to launch so-called “innovation zones” to develop the state’s technological potential. Technology companies that own large areas of land will be able to establish their own local laws, including tax laws, as well as create school districts and courts.

Already, Blockchains is ready to build a “smart city” east of Reno, if the bill is passed. In addition to companies working in the field of blockchain, innovation zones will be able to create companies working on the creation of autonomous cars, IoT, robotics, AI, wireless communication technologies, biometrics and renewable energy sources.

The document notes that the traditional model of local government is “inadequate” to make Nevada a leader in attracting business and developing the economy. The Nevada Department of Economic Development said that companies that own at least 202 square kilometers of uninhabited land in one county will be able to apply for the creation of innovation zones.

Nevada can be considered a leading state in terms of cryptocurrencies. Back in mid-2019, the governor of the state signed several bills on cryptocurrencies.

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