With most cryptos having a tough time recently, many might have to look for other options to remain viable. In an interesting turn of events, the nascent Blockchains LLC has decided to pursue the path of apparent diversification.
Recently, a Nevada regulation body has approved the request from Blockchains LLC to operate as a telecommunications provider within its borders. The Navada Public Utilities Commission (PUC) has given its assent for the crypto company to setup its operations in the small rural county of Storey County, last week, as per reports.
Blockchains LLC’s Physical Presence
Earlier in January of this year, their new CEO Jeffrey Berns, overlooked an extensive land purchase. The firm spent in the region of $150 million to buy approximately 70,000 acres of land east of Reno, in Storey County.
This was at an area designated as an industrial park and has given the company an inlet, and together with all the paperwork they have all the permissions needed to start their own fiber optic telecommunications network. The local government is more than pleased, having already raised about $175 million from the sale of land. A spokesperson noted that the plans were going smoothly.
Adding to the general positivity around this, Lance Gilman, the Commissioner of Storey County, added: “There’s no question — they’re going to have a major footprint in the Tahoe-Reno Industrial Center.”
Blockchains LLC is a relative new player in the market, with a pure focus on building applications for a wide range of businesses, using the blockchain technology.
Since the land purchase they had been busy with the paperwork, which was completed and supplied to the PUC in August. The application delineated the wish to start working on building a high speed fiber optic network there, with the aim of supplying the surrounding communities, businesses and residents.
Asked to comment about the businesses plan, the PUC has simply replied that there are no grounds to raise any objections. The company filled out the forms and more importantly met all their statutory requirements under state law, so there was no reason they could not operate as a telecom provider. Furthermore, there have been no interventions filed by any third parties, so there seems to be no resistance to the idea.
What Does This Mean For Blockchains LLC?
The Blockchain boss had earlier said “big things coming soon,” and it seems they are well on their way to setup a “blockchain oasis in the desert of Nevada.” All the land affords grand plans, in fact, that is exactly what the company intends. It is looking at the feasibility of building a full scale blockchain-based city, which will include schools and banks, in its proposed “Innovation Park.”
Since the start of June, the 70 employee strong company is headquartered in Sparks. This is set to change as their ambitions start taking a more physical form. With the approval from Storey county being the first step, they are hoping to put their grand plans into motion soon.
While the company is not too well known, in either blockchain development or internet field, any innovative idea at these trying times is more than welcome.