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In Nevada, tech companies can form their own counterpart

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

As part of the bill, it is proposed to launch the so-called “innovation zones” to develop the technological potential of the state. Technology companies that own large areas of land will be able to establish their own local laws, including tax laws, in these territories, 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 blockchain field, innovation zones will be able to create companies working on the creation of autonomous cars, IoT, robotics, AI, wireless technologies, biometrics and renewable energy sources.

The document notes that the traditional model of local governance is “inadequate” to make Nevada a leader in attracting businesses and developing the economy. The Nevada Economic Development Authority announced that companies with at least 202 square kilometers of uninhabited land in one county will be eligible for the creation of innovation zones.

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

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