You may not have heard of the company BlockChains, LLC, but they purchased over 67,000 acres of land in the Tahoe-Reno Industrial Center earlier this year. That’s 104 square miles of land. To put that into perspective, the city of Reno itself is 105 square miles.
Who is this company? What do they do?
The only thing I thought I knew about Blockchains, LLC was that they were some kind of cryptocurrency company like Bitcoin, but I got curious and attended a presentation about them recently that was hosted by the Northern Nevada Business Weekly. There, I learned that Blockchain itself isn’t a cryptocurrency—they just us the same technology that Bitcoin uses.
The other things I learned about Blockchain technology and how it will affect our lives was fascinating. The word “disruptive” gets overused these days, but I think it certainly applies in this case. It has the potential to change our lives as profoundly as the internet did in terms of how we handle, store, and secure information.
Blockchain basically supports different businesses who use their technology or app. Google, Mastercard, Microsoft, and Bank of America are some of the companies who’ve applied for patents for this technology. It can change the way we bank, the way we vote, etc. In the real estate world, it can change how we record, track, and transfer deeds and liens.
The company itself has a small campus right now right on the edge of the Industrial Center, but they plan on building a 300,000 square foot campus on the land they bought, and that new campus is slated to employ 1,000 people by 2021.
Keep in mind, the Tahoe-Reno Industrial Center is the largest industrial center in the world, and the amount of data storage within that center is also the largest in the world, so this development has absolutely had an impact on our housing market. We have a lot of people moving into town, a lot of construction happening at the Industrial Center, and a shortage of inventory.
I’m very interested to see what this company intends to do moving forward, so I’ll keep a close eye on all the latest news.
If you have any questions for me about Blockchain technology and its impact on the real estate industry or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d be happy to speak with you.