The rapid popularity of cryptocurrencies such as Bitcoin (BTC) has brought with it a lot of developments over the past few years. However, the development of a region called the United States of Bitcoin could be one of the largest and most ambitious cryptocurrency-related plans.
The proposed region will have a capital city called Bitcointopia which will be built on 3,000 acres of land in Elko County, Nevada. Bitcoin will be the official currency used in the city and this could lead to the region being called the United States of Bitcoin. Its citizens will be able to pay utilities and purchase products and services using Bitcoin.
Bitcointopia’s founder Morgan Rockwell got inspired to build such a city by Disney’s EPCOT. Rockwell is also convinced that blockchain technology can solve most of the problems that exist in today’s finance and governance systems. The city will, therefore, embrace collaborations with innovators.
“Eventually we’re going to try and make partnerships with technology companies like Amazon, Google, and Tesla that want to showcase their products in Bitcointopia,” stated Rockwell.
He further added that tech companies are welcome to launch research and development projects in the city without having to worry about strict regulations on how to run their projects. Rockwell hopes that tech companies will come on board as work towards building the city progresses.
The strategy for the development project
During a Vice interview, Rockwell revealed that their main focus is to develop a community that will perform better than what is being observed in the U.S currently. There will be a lot of focus on sustainability, and also transparency in governance. There is also a plan for seceding from the U.S according to an official statement posted on its website and if successful, the region will officially be known as the United State of Bitcoin with Bitcointopia as its capital.
Rockwell revealed that they have already started building and that their vision is slowly turning into a reality. He stated that construction is currently very compartmentalized at the moment and he expects some political and legal challenges along the way.