Shytoshi Kusama, the main creator of the Shiba Inu, did just that exposed an ambitious proposal to establish a “Strategic Innovation and Blockchain Hub” (SHIB) in a city in the United States known as the “Silicon Valley of Crypto.” With the goal of transforming the chosen location into a global epicenter of blockchain technology, the initiative aims to place the United States at the forefront of the cryptocurrency industry.

Will the Shiba Inu lead the cryptocurrency Silicon Valley?

In a blog post dated November 5, 2024, Kusama outlines a plan that emphasizes economic growth, technological progress and environmental sustainability. “By leveraging the transformative potential of blockchain, the SHIB initiative aims to drive economic growth, create high-quality jobs, advance national security and strengthen the United States’ leadership in emerging technologies,” states Shiba Inu’s lead creator.

Kusama emphasizes the strategic importance of the node, emphasizing the need for the US to maintain its technological advantage. “As global competitors invest heavily in blockchain and digital currencies, it is imperative that the United States maintain its technological advantage,” he writes. It also highlights the benefits to national security, noting that blockchain technologies such as full homomorphic encryption (FHE) can improve cybersecurity measures and protect critical infrastructure.

The proposal details a multi-faceted plan with estimated costs ranging from $1.3 billion to $2.35 billion over five to 10 years. Infrastructure development is an crucial part of the plan, including investments in physical infrastructure such as state-of-the-art research laboratories and sustainable facilities powered by renewable energy. “Build facilities: Build or sponsor state-of-the-art research labs, incubators, accelerators, coworking spaces, and office complexes designed to support collaboration,” Kusama proposes.

Digital infrastructure includes the deployment of ultrafast broadband networks and the deployment of citywide blockchain networks such as Shibarium. “Deploy Shibarium (and other partner systems) as a citywide blockchain network for application testing and deployment. Thanks to this, the costs will be low and the implementation time will be quick,” he explains.

Economic incentives are proposed to attract start-ups and established businesses by offering tax breaks, grants and financing programs. Kusama suggests offering “competitive tax credits, including reduced corporate tax rates, research and development tax credits, and sales tax exemptions on technology equipment.”

Talent development is another key element, including collaboration with educational institutions to create specialized blockchain programs. Kusama advocates “educational partnerships: collaborate with local and digital universities and educational institutions to create specialized degree programs, certificates and courses in blockchain technology.”

A clear regulatory framework was highlighted to encourage innovation while ensuring consumer protection and safety. “Establish clear, supportive regulations that encourage innovation while ensuring consumer protection and safety,” he writes. A regulatory sandbox is proposed to allow companies to test modern technologies under supervision.

Sustainable practices have been incorporated throughout the initiative, including powering the center with renewable energy to minimize its carbon footprint. “Powere the center with renewable energy sources to minimize carbon footprint,” Kusama recommended, emphasizing the importance of environmental stewardship.

The expected results of the initiative are significant. In the near term (1-2 years), the main creator of the Shiba Inu predicts the creation of approximately 5,000 jobs and an injection of USD 500 million into the local economy. Over the medium term (3-5 years), the plan envisages expansion to over 20,000 high-skilled jobs and an annual economic contribution of $2 billion. In the long term (over 5 years), SHIB is expected to become a world-renowned center, contributing over $5 billion to the economy annually.

The economic impact analysis predicts a significant return on investment. “Projected return of $10 for every dollar invested over ten years, taking into account job creation, tax revenues and economic activity,” Kusama states. Additional benefits include an estimated annual boost of $500 million in federal, state and local tax revenues after the first five years and attracting $5 billion in private investment over ten years.

Kusama also highlights the initiative’s contribution to national goals: “It is consistent with national priorities of economic growth, technological progress, national security and sustainable development.”

He concludes his proposal with a call to action, highlighting the transformative opportunities the SHIB initiative creates for the United States. “By taking decisive action, we can ensure the nation’s leadership in technology that will shape the global economy for decades to come,” he said. “Investing in a Strategic Innovation Center and Blockchain Creates a Transformative Opportunity for the United States.”

At press time, the Shiba Inu price was $0.00001761.

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