Shytoshi Kusama, the lead developer of Shiba Inu, presented an ambitious proposal to establish a “Hub for Innovation and Prevention Strategy” (SHIB) in a city in the United States called the “Silicon Valley of Crypto.” Aiming to transform the designated area into a global hub for blockchain technology, this initiative aims to put the US at the forefront of the crypto industry.
Shiba Inu Will Lead The Silicon Valley Of Crypto?
In a blog post dated November 5, 2024, Kusama outlines a plan that emphasizes economic growth, technological advancement, and environmental sustainability. “Using the transformative power of blockchain, this SHIB initiative aims to promote economic growth, create high-quality jobs, improve national security, and strengthen the leadership of the United States in emerging technologies,” said the leading Shiba Inu.
Kusama emphasizes the strategic importance of the hub, stressing the need for the US to maintain its technological edge. “As global competitors invest heavily in blockchain and digital currencies, it is imperative that the US maintain its technological edge,” he writes. He also highlights the benefits of national security, noting that blockchain technology such as Fully Homomorphic Encryption (FHE) can improve cybersecurity measures and protect critical infrastructure.
The proposal describes a multi-faceted program with estimated costs ranging from $1.3 billion to $2.35 billion over a period of five to ten years. Infrastructure development forms an important part of the plan, including investment in physical infrastructure such as state-of-the-art research labs and sustainable facilities powered by renewable energy. “Infrastructure: Build or fund high-quality research labs, incubators, accelerators, co-working spaces, and office buildings designed to foster collaboration,” suggests Kusama.
Digital infrastructure includes the deployment of ultra-high-speed broadband networks and the implementation of city-wide blockchain networks such as Shibarium. “Use Shibarium (and other partner systems) as a city-wide blockchain network to test and implement applications. This will keep the cost down, and the implementation time faster,” he explained.
Economic incentives are proposed to attract start-ups and established companies, offering tax breaks, grants, and subsidy programs. Kusama proposes offering “competitive tax breaks, including reduced corporate tax rates, R&D tax credits, and sales tax exemptions for technology.”
The development of talents is another important part, which includes cooperation with educational institutions to create programs specialized in blockchain technology. Kusama advocates for “educational partnerships: Collaborate with local and digital universities and educational institutions to create specialized degree programs, certificates, and courses in blockchain technology.”
Emphasis is placed on a clear regulatory framework to encourage innovation while ensuring consumer protection and safety. “Establish clear, supportive rules that encourage innovation while ensuring consumer protection and safety,” he writes. The creation of a regulatory sandbox is proposed to allow companies to test new technologies under supervision.
Sustainable practices are integrated throughout the system, including powering the hub with renewable energy to reduce carbon footprint. “Power the hub with renewable energy sources to reduce the carbon footprint,” recommended Kusama, highlighting the importance of environmental care.
The proposed results of this program are significant. In the short term (1-2 years), leading Shiba Inu expects the creation of nearly 5,000 jobs and an injection of $500 million into the local economy. In the medium term (3–5 years), the program expects an increase in more than 20,000 high-skilled jobs and an annual economic contribution of two billion dollars. In the long term (5+ years), SHIB’s establishment as a globally recognized destination is expected, contributing more than $5 billion annually to the economy.
Economic impact analysis reveals a significant return on investment. “It is expected to return $10 for every $1 invested in ten years, taking into account job creation, tax revenue, and economic activity,” said Kusama. Additional benefits include an estimated $500 million annual increase in federal, state, and local tax revenue after the first five years and the attraction of $5 billion in private investment over ten years.
Kusama also highlights the program’s contribution to the country’s goals: “It is in line with the national priorities of economic growth, technological development, national security and sustainable development.”
He concludes his proposal with a call to action, emphasizing the transformative opportunity the SHIB program brings to the United States. “By taking drastic measures, we can protect the nation’s leadership from technology that will shape the world economy in the coming decades,” he stressed. “Investing in the Strategic Hub for Innovation and Blockchain presents an opportunity to transform the United States.”
At press time, Shiba Inu traded at $0.00001761.
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