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Blockchain Firm Asks Nevada State for Permission to Build a Crypto ‘Smart City’ in Storey County – Blockchain Bitcoin News

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Felipe Erazo

A crypto “smart city” could become a reality in Nevada’s desert, as a blockchain firm applied to make it possible. The investment company asked the state of Nevada to form a local government in Storey County.

Crypto City Aims to Host 33 Million Square Feet of Commercial Space

According to a report published by the Associated Press, Blockchains LLC wants to build the crypto city within its 67,000 acres of land located in Reno’s east. But the application is not limited to Blockchains LLC.

The firm’s CEO, Jeffrey Berns, wants that local authorities grant other companies the green light to do similar projects in the state.

Per the company’s CEO, if they get the approval, the firm will establish its own laws, as they’ll be granted power on building schools and even law enforcement.

The crypto city also expects to deploy an economy based on digital currencies, where residents could purchase goods and pay for services via crypto assets.

However, they don’t want to limit the project to an economy’s digitalization. In fact, the smart city aims to record financial statements, medical records, and personal data on the blockchain.

The city will be located 12 miles east of Reno. The proposal also aims to build 15,000 homes starting from 2022, if the firm gets the approval.

For the long term, precisely within 75 years, Blockchains LLC would like to build 33 million square feet of commercial and industrial space.

Berns commented on the idea that Nevada changes its legal framework to allow “innovation zones” in the state:

We bought 70,000 acres of land in the county. What did they think we were going to do? (…) For us to be able to take risks and be limber, nimble and figure things out like you do when you’re designing new products, that’s not how government works. So why not let us just create a government that lets us do those things?

Nevada Governor Already Discussed the Idea of ‘Innovation Zones’

Although, Ben Kieckhefer, a blockchain-friendly Nevada Republican senator didn’t go into in-depth details on Blockchains LLC proposal, he said the following:

I don’t know enough yet to say whether I’m comfortable with this as the next step or not. But, look, it’s a big idea, and Nevada has been built on big ideas, so let’s hear it out.

The “innovation zones” mentioned by Berns are not a new concept in Nevada, at least within the local political sphere. The state’s governor Steve Sisolak highlighted the idea during his State of the State address on January 19, 2021, to “diversify the economy” in a post-pandemic era.

What do you think about the concept of a crypto “smart city”? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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SEC Seeks Commentary From ‘Interested’ Individuals on Vaneck Bitcoin ETF – Regulation Bitcoin News

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Jamie Redman

The U.S. Securities and Exchange Commission (SEC) is currently seeking additional commentary from the public, as the regulating body ponders the Vaneck bitcoin exchange-traded fund (ETF) decision. In a notice published on Wednesday, the SEC thinks “interested persons” should provide comments on the proceedings.

SEC Is Looking for Comments Concerning Vaneck’s Proposed Bitcoin ETF Listing

In December 2020, New York-based investment management firm Vaneck filed with the SEC to list a bitcoin ETF. Following the original filing, in March 2021, the Chicago Board Options Exchange (Cboe) applied to list the Vaneck Bitcoin Trust. Then at the end of April, as the U.S. regulator was determining whether or not it would reach a conclusion on the Vaneck ETF, the SEC gave itself 45 more days to decide.

The SEC’s order detailed that the notice of designation has been postponed to June 17, 2021. The regulator could increase it to a “longer period up to 90 days” the notice said. “As the Commission may designate if it finds such longer period to be appropriate and publishes its reasons,” the U.S. regulator’s order revealed. The order was composed by the SEC’s assistant secretary Matt DeLesDernier on April 28, 2021.

This week, on June 16, 2021, the SEC has disclosed that it’s seeking commentary from “interested persons” who are for or against the Vaneck bitcoin ETF listing. Interested commenters have approximately 21 days to give a statement to the regulator.

“The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Act14 to determine whether the proposed rule change should be approved or disapproved. Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change, as discussed below,” the SEC’s June 16 notice discloses. The announcement adds:

[The] institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.

SEC’s Decisions Designed to ‘Protect Investors and the Public Interest’

The U.S. regulator declares that its methods for decision-making are in the best interests of the public. Moreover, the SEC may institute procedures that allow for further review of the proposed rule change.

“Pursuant to Section 19(b)(2)(B) of the Act, the Commission is providing notice of the grounds for disapproval under consideration,” the notice details. “The Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act, which requires, among other things, that the rules of a national securities exchange be ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors and the public interest.’”

This is not the first time the U.S. regulator has asked for statements concerning approval or disapproval of a bitcoin-based ETF in the country. So far, however, despite the many applicants in 2021 and previous years, the Securities and Exchange Commission has yet to approve a bitcoin ETF.

What do you think about the SEC seeking commentary on the Vaneck Bitcoin Trust? Do you think the U.S. regulator will approve a bitcoin ETF this year? Let us know what you think in the comments section below.

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45 days, approval, Bitcoin, Bitcoin (BTC), BTC, Decision Making, exchange traded fund, Matt DeLesDernier, Postponed, Public Commentary, Public Interest, Regulation, SEC, us regulator, vaneck, Vaneck bitcoin ETF

Image Credits: Shutterstock, Pixabay, Wiki Commons, SEC Logo,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Bitdao Collects $230 Million in Private Capital From Investors – Finance Bitcoin News

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Reuben Jackson

As the decentralized finance movement proves its staying power and resilience, one of the world’s largest decentralized autonomous organizations, Bitdao, has concluded a private fundraising round to promote mass adoption of open finance.

DAO to Allocate Capital Towards Improving Defi R&D, Funding, & Liquidity

As decentralized finance (defi) slowly regains its footing following the May decline in total value locked, there is no shortage of investment capital chasing after the idea’s tremendous potential.

Bitdao, a decentralized autonomous organization focused on defi, is launching following the successful conclusion of a $230 million private funding round. The private capital raise featured participation from more than 20 institutions and defi partners, including hedge fund manager Alan Howard, well-known entrepreneur Peter Thiel, Dragonfly Capital, Fenbushi, Founders Fund, Jump Capital, Pantera Capital, and Spartan Group, among others.

To resolve the Bitcoin network’s persistent throughput issues and Ethereum’s high transaction cost, Bitdao’s multichain design intends to unseat existing centralized pegged tokens that pose censorship and counterparty risks through a fast and affordable decentralized solution. The organization’s native BDAO governance and defi token is pegged to the value of bitcoin, with plans to introduce other pegs in the future for coins like ethereum.

The fresh capital will be allocated to multiple areas of operation, including research and development, funding, and liquidity operations. Attracting developer talent is one of the primary aims of this initiative, and capital will also be distributed as grants and token swaps to support blockchain technologies. In addition, contributions to the Bitdao treasury will be used to back partners, add liquidity, and help bootstrap new protocols in decentralized exchange (dex) platforms, lending, and synthetics.

Besides this funding, Bybit, one of Bitdao’s ardent supporters, has pledged 2.5 basis points from all futures contracts transaction volume on its platform in recurring support to the treasury. Based on the platform’s 2021’s transaction volumes, this figure could reach $1 billion annually, helping underpin Bitdao’s mission of improving adoption, collaboration, and innovation within decentralized finance as inclusively as possible.

What do you think about Bitdao raising $230 million? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Entertainment Giant Fox Teams up With Bento Box to Manage $100 Million NFT Creator Fund – Bitcoin News

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Jamie Redman

Fresh off the heels of announcing a non-fungible token (NFT) organization called Blockchain Creative Labs and a blockchain-based animated series, Fox Broadcasting Company has revealed it’s invoked a $100 million fund with Bento Box Entertainment (BBE) that aims to bolster NFT content creators.

Fox and Bento Box to Fuel NFT Ecosystem With a $100 Million Fund

On June 15, the New York-based television network and entertainment firm Fox revealed a $100 million fund that aims to help further NFT creators and the industry. Fox and its subsidiary Bento Box Entertainment (best-known for producing the show “Bob’s Burgers”) have explained that the companies are working with Blockchain Creative Labs to further the venture. The $100 million fund news follows the introduction of Blockchain Creative Labs revealed in mid-May.

BBE was founded by Scott Greenberg, Joel Kuwahara, and Mark McJimsey and was acquired by Fox in 2019. The two firms believe the new venture will help innovate and mold the blockchain-based NFT ecosystem that has seen massive growth during the last 12 months. BBE’s cofounder and CEO, Scott Greenberg detailed on Tuesday:

Fox and Bento Box are uniquely situated to bring exciting offerings to the digital goods, token, and NFT marketplace.

Fox Entertainment CEO, Charlie Collier, detailed during the announcement that BBE’s use of blockchain improves upon the company’s craft. “[Blockchain technology has bolstered a] new marketplace that is a natural extension of Bento Box’s talents, one that allows the team to support, elevate and reward innovators and artists in new and creatively exciting ways,” Collier said on Tuesday. Collier added:

Our new company, Blockchain Creative Labs, also under Scott and Bento Box, will help shape and grow the fast-evolving world of creatively-led digital goods and tokens.

Fox and BBE alongside the recently invoked Blockchain Creative Labs, have yet to announce any product launch dates or reveal when the blockchain-based animated series crafted by Dan Harmon called “Krapopolis” will air. Greenberg explained that BBE team will always be “entrepreneurs at our core” and said that the company has had “longstanding relationships within the creative community.”

“BBE will harness this technology to bridge together brands and producers with fans in new and interesting ways, and we’re looking forward to seizing this opportunity,” Greenberg further remarked. Fox aims to show the world its tokens and NFTs in the future and noted during the last announcement that an NFT marketplace was also being constructed.

What do you think about the entertainment firm Fox revealing a $100 million fund toward NFTs and fueling Blockchain Creative Labs? Let us know what you think about this subject in the comments section below.

Tags in this story
$100 million fund, $100M, BBE, Bento Box, Bento Box Entertainment, Blockchain Creative Labs, Blockchain Series, Blockchain Show, Charlie Collier, Dan Harmon, Fox Broadcasting, Fox Entertainment, Fox NFT, Krapopolis, Michael Thorn, nft, NFTs, Non-fungible Token, report, Television

Image Credits: Shutterstock, Pixabay, Wiki Commons, Fox Logo

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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