Crypto Utopia: Man-Made Floating Islands in Pacific Will Acknowledge Digital Currency
Drowning under your government’s vast business and monetary policies? Head towards the oceans. To be more specific, create an island of your own that its own government and digital currency as its main tender.
The oceans are the answer to a massively polluted planet and policies that cripple business growth. The startups BlueFrontiers and Seasteading are building human-made islands that will support over 300 homes and have their own form of government and currency.
Digital Currency is becoming a first choice currency Utopia builder like Mr. Elon Musk, who requires an effective, non-physical tender.
As per Blue Frontier’s website:
Our mission is to further the long-term-growth of the seasteading movement. Our current focus is to allow the first seasteads by researching critical engineering, legal and business challenges, increasing public awareness, and building a core seasteading community.
The project has picked the Polynesian Islands as the origin points Nathalie Mezza-Garcia, a researcher at Blue Frontiers, conversed with CNBC about the location.
Nathalie Mezza-Garcia stated:
“There is importance to this project being trialed in the Polynesian Islands. It is the region where land is resting on coral and will disappear with rising sea levels.”
The initial project will work as a testing grounds for the future floating systems.
“Once we can see how this first island works, we will have a proof of concept to plan for islands to house climate refugees.”
Blue Frontiers has too started an ICO for a token to raise capital. As asserted, Blue Frontiers is planning to utilize the proceeds of the sale to expand its ecosystem and create SeaZones and seasteads, and will only accept Varyon (VAR) for its products and services.
So much for an open governance framework, since the project and whitepaper aren’t accessible to other digital currencies for trade.
The seafasting project has been quoted in Nature, the Wall Street Journal and the New York Times.
Though seafasting sounds like it’s happened straight out of a Sci-Fi Novel, it could butt heads with the government. As per a report, the crackdown on digital currencies apparently won’t conveniently overlook human-made islands. Although, the project could take on measures that the Carribean island has taken to support crypto business. Their pro-bitcoin stand has attracted to the islands a utopia of their own, with bitcoin whales moving in, startups, and venture capital.
Smaller government with regulation adaptability are in a unique position for making more relaxed regulations for cryptocurrency businesses when big countries have a lot of political and central bank bureaucracies that hamper progress.