Tower City Center in Cleveland, Ohio, is now set to become a leading entrepreneurial center. The struggling establishment was initially designed to be the state’s premier blockchain hub.
According to a recent report posted on Cleveland.com, Tower City Center had been experiencing financial problems for some time now. At some point, there were even news that the shopping mall would be revamped as a blockchain center.
Altered Plans for Tower City
Bernie Moreno, a member of Blockchain Cleveland, stated that business plans for Tower City had been altered. He admitted that he initially thought that the Tower Center could become a blockchain center but as more people became engaged and provided feedback, they adapted their mission so it was more focused on what the community really wanted.
Moreno added that at present, what the people wanted was a hub for entrepreneurs, with a wider scope than just technology.
However, blockchain will still play a part in the development of this new hub, albeit in a nominal capacity. The revamped center will now be called the “City Block” and Moreno and the people managing the hub are hoping blockchain tech will bring more investors and business-minded people to the city for conferences.
The Blockland Initiative
Blockchain technology was seen as a means to reinvigorate Cleveland. It’s what prompted the formation of the trade group The Blockland Initiative. The organization had hoped to develop the city’s blockchain industry.
The state had been primed to be the breeding ground for blockchain. Back in December 2018, Ray Leach, the CEO of the non-profit organization JumpStart, announced that seven funders were slated to put $100 million in investments on blockchain startups based in Ohio.