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Nevada Desert Set To Turn Green Thanks to Bitcoin

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A millionaire of cryptocurrency is betting his fortune on a huge piece of land in the Nevada desert … caves dug into the side of the mountains … and blockchain.

Jeffrey Berns is taking a big risk with his planned creation of a "cryptic utopia". According to New York Times & nbsp;history& nbsp; published on November 1, the 56-year-old is planning a community with thousands of homes and businesses, all related to the digital infrastructure at the Bitcoin base.

Kai-Fu Lee, president and CEO of Sinovation Ventures, center, speaks as Paul Daugherty, head of technology and innovation at Accenture Plc, and David Kirkpatrick, founder and CEO of Techonomy Media Inc., listens during the 2018 Techonomy Conference in Half Moon Bay, California, USA, Monday 12 November 2018. The annual conference focuses on the centrality of technology for business and social progress and on the urgency of embracing the rapid pace of change brought about by technology . Photographer: David Paul Morris / Bloomberg&copy; 2018 Bloomberg Finance LP

It is a gigantic experiment in the real world with a huge potential profit.

Blockchain is a system of distributive accounting. It is unique because it is completely transparent. Each transaction is validated by complex cryptography. The same mathematics guarantees that these items can not be altered or removed. They exist forever, for everyone to see.

This type of transparency eliminates the need for trusted intermediaries such as lawyers, accountants and regulators. It is efficient, economical and safe.

At least, this is the theory.

In practice, blockchain is still an unknown quantity. There was a great deal of news, especially in financial services. Banks, brokers and insurers see untold wealth. They want to reduce back-office costs.

A search 2017 & nbsp;relationship& nbsp; from McKinsey & amp; Co., an international research group, said that the implementation of blockchain could lead to $ 110 billion in annual savings for the global financial services industry. Subsequently & nbsp;analysis& nbsp; Accenture has shown savings of up to $ 10 billion for the top 10 investment banks alone.

Far from financial services, & nbsp;Walmart& nbsp; started working with & nbsp;IBM& nbsp; in 2017, a & nbsp;track the production of pork& nbsp; in China. The companies were combined again in 2018 with & nbsp;monitor& nbsp; on the diffusion of E. coli in Roman lettuce. And Maersk, the largest shipping company in the world, is using blockchain to secure shipping for its fleet of 786 ships.

Forbes & nbsp;reported& nbsp; in August, Maersk's blockchain platform, created in collaboration with IBM, had been used in 154 million events. And those are growing at a rate of 1 million a day.

Most investors know the blockchain as the technology behind Bitcoin, the cryptocurrency that caused a digital gold rush in 2017. And the explosion of cryptocurrency awareness has made Berna rich.

A class action lawyer arrived at the cryptocurrencies in 2012 when he discovered Bitcoin. By 2015, he acquired an important stake in Ether, the digital currency associated with Ethereum, an open source distributed computing platform. Wisely, Berns sold his stake before the crypto crash.

Now, he's playing his winnings in his dream in the Nevada desert …

Based on Ethereum and smart contracts, Berns plans to build a futuristic community. & Nbsp; One in which each resident will have a digital address on a blockchain. This identity will allow them to vote on local measures. It will also facilitate the storage of personal data.

To overcome the tangible security concerns, Berns took the unusual step towards the security of physical vaults located in the mountains of Sweden and Switzerland. Several times are planned for the mountains of Nevada.

He has already spent $ 300 million to buy land and plan. His 70 staff works with local politicians and power companies. Their next step is to start courting companies that will also use blockchain. It's all part of a larger plan to show the utility of the digital ledger system in real-world settings.

It's a great idea that is gaining ground when concerns about data proliferation grow. & Nbsp; Researchers at MIT Media Lab, who work at & nbsp;Enigma Project, have shown that a decentralized blockchain located on other networks can protect personal data.

For investors, the best way to play the rise of blockchain is & nbsp; Accenture. The management consulting firm based in Ireland is the recognized leader in enterprise blockchain implementations. At the end of fiscal 2017, he had commercial ties with 95 of the Fortune 100 ranking.

Backed by cloud, security and digital services, its sales grew by 13% in the 2018 fiscal year, to $ 41.60 billion. And in September, Pierre Nanterme, managing director, raised the forecasts for the first quarter of the 2019 fiscal year to a range between 10.3 and 10.6 billion dollars, well above the average consensus estimate 10.2 billion dollars.

Financial services and supply chain companies are obvious candidates. However, & nbsp; FutureScape, one October 2018 & nbsp;relationship& nbsp; from the IDC global information technology research firm, sees the blockchain as part of a larger digital transformation. The turn could be worth $ 7 trillion by 2022.

Companies across the spectrum are stepping up their investments, to the immediate benefit of Accenture.

The stock fell from $ 175 to September. It is trading only 19x gains forward and 2.5 times sales. With a market capitalization of $ 102 billion, Accenture is still inexpensive given the size of the addressable market.

More importantly, the global consulting has already made the blockchain investment. Shareholders are on the cusp to collect the reward.

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A millionaire of cryptocurrency is betting his fortune on a huge piece of land in the Nevada desert … caves dug into the side of the mountains … and blockchain.

Jeffrey Berns is taking a big risk with his planned creation of a "cryptic utopia". According to a New York Times article published on November 1, the 56-year-old is planning a community with thousands of homes and businesses, all linked to the digital infrastructure at the Bitcoin base.

Kai-Fu Lee, president and CEO of Sinovation Ventures, center, speaks as Paul Daugherty, head of technology and innovation at Accenture Plc, and David Kirkpatrick, founder and CEO of Techonomy Media Inc., listens during the 2018 Techonomy Conference in Half Moon Bay, California, USA, Monday 12 November 2018. The annual conference focuses on the centrality of technology for business and social progress and on the urgency of embracing the rapid pace of change brought about by technology . Photographer: David Paul Morris / Bloomberg© 2018 Bloomberg Finance LP

It is a gigantic experiment in the real world with a huge potential profit.

Blockchain is a system of distributive accounting. It is unique because it is completely transparent. Each transaction is validated by complex cryptography. The same mathematics guarantees that these items can not be altered or removed. They exist forever, for everyone to see.

This type of transparency eliminates the need for trusted intermediaries such as lawyers, accountants and regulators. It is efficient, economical and safe.

At least, this is the theory.

In practice, blockchain is still an unknown quantity. There was a great deal of news, especially in financial services. Banks, brokers and insurers see untold wealth. They want to reduce back-office costs.

A 2017 research report by McKinsey & Co., an international research group, said the blockchain implementation could lead to $ 110 billion in annual savings for the global financial services industry. Subsequent Accenture analyzes showed savings of up to $ 10 billion for the top 10 investment banks.

Far from financial services, Walmart he started working with IBM in 2017, to monitor pork production in China. The companies came together again in 2018 to keep the spread of E. coli in Roman lettuce. And Maersk, the largest shipping company in the world, is using blockchain to secure shipping for its fleet of 786 ships.

Forbes in August it was reported that Maersk's blockchain platform, created in collaboration with IBM, had been used in 154 million events. And those are growing at a rate of 1 million a day.

Most investors know the blockchain as the technology behind Bitcoin, the cryptocurrency that caused a digital gold rush in 2017. And the explosion of cryptocurrency awareness has made Berna rich.

A class action lawyer arrived at the cryptocurrencies in 2012 when he discovered Bitcoin. By 2015, he acquired an important stake in Ether, the digital currency associated with Ethereum, an open source distributed computing platform. Wisely, Berns sold his stake before the crypto crash.

Now, he's playing his winnings in his dream in the Nevada desert …

Based on Ethereum and smart contracts, Berns plans to build a futuristic community. One in which each resident will have a digital address on a blockchain. This identity will allow them to vote on local measures. It will also facilitate the storage of personal data.

To overcome the tangible security concerns, Berns took the unusual step towards the security of physical vaults located in the mountains of Sweden and Switzerland. Several times are planned for the mountains of Nevada.

He has already spent $ 300 million to buy land and plan. His 70 staff works with local politicians and power companies. Their next step is to start courting companies that will also use blockchain. It's all part of a larger plan to show the utility of the digital ledger system in real-world settings.

It's a great idea that is gaining ground as concerns over data proliferation grow. Researchers at MIT Media Lab, working on the Enigma project, have shown that a decentralized blockchain on top of other networks can protect personal data.

For investors, the best way to play the blockchain's rise is Accenture. The management consulting firm based in Ireland is the recognized leader in enterprise blockchain implementations. At the end of fiscal 2017, he had commercial ties with 95 of the Fortune 100 ranking.

Backed by cloud, security and digital services, its sales grew by 13% in the 2018 fiscal year, to $ 41.60 billion. And in September, Pierre Nanterme, managing director, raised the forecasts for the first quarter of the 2019 fiscal year to a range between 10.3 and 10.6 billion dollars, well above the average consensus estimate 10.2 billion dollars.

Financial services and supply chain companies are obvious candidates. However, FutureScape, an October 2018 report from IDC's global information technology research company, sees blockchain as part of a larger digital transformation. The turn could be worth $ 7 trillion by 2022.

Companies across the spectrum are stepping up their investments, to the immediate benefit of Accenture.

The stock fell from $ 175 to September. It is trading only 19x gains forward and 2.5 times sales. With a market capitalization of $ 102 billion, Accenture is still inexpensive given the size of the addressable market.

More importantly, the global consulting has already made the blockchain investment. Shareholders are on the cusp to collect the reward.

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