Praxis – another project to create a “smart” citybacked by tech billionaires, has received $525 million in funding. The project, led by 28-year-old Dryden Brown, tries to realize the idea of independent cities in the spirit of “network state” – utopian communities based on anarcho-capitalist principles. This approach can be compared to a high-tech version of the utopian society from Ayn Rand’s Atlas Shrugged, so respected by capitalists with sociopathic/egocentric tendencies.
Most of the new funding – $500 million – was provided by crypto investment firm GEM Digital through a tiered funding mechanism, where funds are released in installments as conditions are met. special. In addition, the project received $ 25 million from financial lender Arch Lending.
Although the project is now heavily funded, Praxis is still just a concept. Supported by proponents of cryptocurrency and network-state ideology such as Balaji Srinivasan, the project shares a utopian vision of a future where crypto infrastructure is integrated into basic social functions. In short, the perfect city for crypto bros.
The network says that the movement is actively supported by large financial circles, including supporters of cryptocurrency, but they have not yet brought any practical results or significant improvements in quality. life for the greatest number of people. And they don’t seem likely to take it – but time will tell.
2024-10-17 14:30:00
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