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United States: Cities soon to be run by private companies

Updated: Mar 16, 2023

The governor of Nevada in the United States, Steve Sisolak, would have for project to sell lands to innovative companies in order to let them impose their law on the spot.

Indeed, the objective is to give the companies almost full power, in order to boost the local economy. According to an article in the Las Vegas Review-Journal spotted by Courrier International, large technology companies could form a kind of local government on the land they have been sold. If the idea goes through, they could even levy taxes and set up courts.

To be allowed this privilege, the companies involved will have to pay $250 million for the undeveloped land and then invest $1 billion over 10 years. The land will cover more than 20,000 hectares. By comparison, Paris covers 10,500 hectares.

The goal is clear: to attract new businesses to boost the local economy and create tens of thousands of jobs.

And one company already seems to be on the verge of meeting all the criteria. Blockchains LLC, led by billionaire Jeffrey Berns, plans to build a "smart city". It could therefore, in time, obtain a semi-independent status.

Americans living in the area would be able to vote on site, get a functioning police or fire department, as well as schools for their children. The economy of the city created by Blockchains LLC would be centered around a type of cryptocurrency, the "stablecoin", a virtual currency with a fixed value indexed to the dollar.

Note that 3 people appointed by the governor will be responsible for overseeing the various independent zones in question. It remains to be seen how the people of Nevada will react to the implementation.

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