Crypto Chronicle
  • Home
  • News
  • New Floating Crypto Nation expected by 2022
News

New Floating Crypto Nation expected by 2022

Picturesque island at ocean

For anyone who is tired of their own government and laws, the Floating Island Project has a potential solution: a new floating nation, outside of government control, and using a new currency, the Varyon.

The project has grown out of the Seasteading Institute, co-founded by tech billionaire Peter Thiel to enable “seasteading communities – floating cities” which can then be used to  “peacefully test new ideas for government.” Out of the Institute has grown a commercial venture, Blue Frontiers, which is holding an ICO to raise funds for the world’s first “seastead”. In exchange for their investment, participants will receive Varyon, a currency designed for use on the planned floating cities.

The initial pilot project will be for 300 floating homes. According to Nathalie Mezza-Garcia, a researcher for Blue Frontiers, having this new space outside of the geopolitical mainstream means that “there is stability, outside of fluctuating geopolitical influences, trade issues and currency fluctuations” making it a “perfect incubator” for startups.

The plan is to eventually have many islands, all running themselves in different ways. Under the government as service provider model, if you don’t like the current regime you will be“able to just take their house and float away to another island.

Climate Refugees

However, the project is still reliant on existing governments for now, and has just signed an agreement with French Polynesia to use its land for launches. French Polynesia is interested in the scheme due to the impact of climate change on its many islands. Ms. Mezza-Garcia says this region “is resting on coral and will disappear with rising sea levels”.

If the island model can be made to work then there is a plan to use it to offer new homes to Pacific Islanders who have lost their land. “Once we can see how this first island works, we will have a proof of concept to plan for islands to house climate refugees,” she said.

Image From Shutterstock

Related posts

Chinese Internet Cafes Cryptojacked for Almost $1 Million Dollars

Mark Hartley

Gatecoin Upgrades KYC/AML Services with Coinfirm Partnership

Mark Hartley

New App Store Guidelines Focus on Blockchain Tech

Mark Hartley

Leave a Comment