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The developer of the meme coin is pursuing an ambitious plan to create a new American city, similar to Silicon Valley, that is designed solely for the blockchain industry. Shiba Inu founder Chitoshi Kusama is urging the Donald Trump administration to consider the idea of creating a dedicated center for blockchain innovators and entrepreneurs.
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Shiba Inu City: An Ambitious Plan
In a post, Kusama put forward his bold proposal to create a blockchain version of Silicon Valley to allow the blockchain ecosystem to flourish.
Kusama named the new city Strategic Center for Blockchain Innovation (SHIB), which he claimed was in line with Trump’s vision of creating new tech-focused American cities.
Well, do you look at that? I think my SHIB proposal was ahead of its time… by less than a week. ICYMI https://t.co/pjUBcjgZJ3
Thread🧵 https://t.co/p8wRKhxThh— Chitoshi Kusama™ (@ShytoshiKusama) November 9, 2024
In 2023, Trump announced that once he is elected President of the United States, he will build 10 cities on federal land. He said that these cities will be called “cities of freedom.” He pointed out that these new American cities would give the country a “new American future” after the nation had “lost its boldness,” as he put it.
With Trump winning the US election, the Shiba Inu creator saw this as an excellent opportunity to push for the proposed blockchain hub.
Cost effective
Kusama agrees to transform an American city and make it the center of… blockchain The industry will be expensive in the short term.
The meme developer said that creating the SHIB would cost the US government about $1.3 billion to $2.35 billion and would take five to ten years to build.
However, he pointed out that Trump The administration should not focus on short-term expenditures, but rather on the long-term economic and geopolitical benefits it will bring to the country.
The SHIB’s results will offset the cost of its construction, he said, explaining that within a year or two, he expects the blockchain hub to create 5,000 jobs.
The cryptocurrency developer added that the project could bring about $500 million to the local economy. It will also attract more than 100 blockchain startups to establish their businesses in the center.
Kusama said:
“By leveraging the transformative potential of blockchain, this SHIB initiative aims to stimulate economic growth, create high-quality jobs, enhance national security, and advance U.S. leadership in emerging technologies.”
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Strategic investment
Kusama sees SHIB as a transformative project for the country, saying it is a move to allow the United States to gain a strategic advantage in blockchain technology.
He predicted the center would become a self-sustaining ecosystem that could bring in more than $5 billion to the U.S. economy every year, adding that it would also bring in $500 million in tax revenue annually.
The cryptocurrency market responded positively to the plan, pushing the SHIB price to the $0.00002727 level – which An increase of 23% within 24 hours
Kusama believes the project is a “strategic investment” essential for the country’s future because the proposal will generate significant economic returns and make the country a leader in blockchain technology.
“With the President’s support, we can embark on this transformative journey, ensuring prosperity and security for generations to come,” he concluded.
Featured image from MDogsW, chart from TradingView
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