Rey Simmons is an investor who focuses his attention on stocks and, more recently, cryptocurrency.

A cryptocurrency company that owns 67,000 acres in rural northern Nevada wants state government to grant technology companies power to form local governments on land they own. It would override local county regulations. While the legislation does not specifically mention the company, the proposal is geared toward Blockchains LLC, a cryptocurrency company that owns 67,000 acres of land (270 sq. The Innovation Zone proposal has sparked concerns about ceding excessive amounts of power to technology companies. The study projects Blockchains' proposal will eventually generate $2.2 billion in direct output annually, about 1.3% of Nevada's overall economic activity.

This undated illustration provided by Blockchains LLC shows a proposed "smart city" in rural northern Nevada. A cryptocurrency company that owns 67,000 acres in rural northern Nevada wants state government to grant technology companies power to form local governments on land they own. Jeffrey Berns, CEO of Nevada-based Blockchains, LLC, wants to build a "smart city" run on blockchain technology on the land his company purchased in 2018. (EYRC Architects/Blockchains LLC via AP)CARSON CITY, Nev. – In the Nevada desert, a cryptocurrency magnate hopes to turn dreams of a futuristic “smart city” into reality. Steve Sisolak’s January State of the State address, when he outlined plans to rebuild a more diversified economy after the coronavirus pandemic.