Blockchains withdraws ‘Innovation Zone’ plan for Northern Nevada

This undated illustration provided by Blockchains LLC shows a proposed "smart city" in rural Northern Nevada. The cryptocurrency company that owns 67,000 acres in rural Northern Nevada says it has withdrawn efforts to build an "Innovation Zone" run on blockchain technology, and with the possibility of forming its own government.

CARSON CITY — A company that asked Nevada to let it form its own local government on its vast land holdings in the desert no longer plans to build the experimental smart city that they said could transform Nevada into a global hub for emerging technology.

Blockchains, a Nevada-based technology company, had for months lobbied state lawmakers to create new, semi-autonomous jurisdictions called “Innovation Zones,” where companies developing new technologies could experiment without oversight from rural county officials. They proposed the zones to be governed by three county commission-like board members — two of whom would at first be nominated by the company. They could create their own court systems, impose taxes and make zoning decisions. 

The company said on Thursday that it was scrapping its plans and no longer would participate in the study committee that the state Legislature organized to consider the idea.

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