In the Pacific Ocean, a floating …
A floating state with its own government and cryptocurrency may appear in the Pacific
The first sovereign floating state may appear in the Pacific Ocean in 2022. It is assumed that it will operate outside the jurisdiction of other states and use its own Vayron cryptocurrency for payments. The project is being developed by a group of philanthropists, scientists and investors. Natalie Mezza-Garcia, a political scientist and researcher on the floating island project, told CNBC about this..
The island is expected to have 300 houses, as well as several hotels, restaurants and offices, and its residents will be free from “changing geopolitical influences, trade problems and currency fluctuations,” explained Mezza-Garcia. It is also planned that the island will host refugees forced to leave their home regions due to climate change..
“Of particular importance is the fact that the project is being developed near the Polynesian Islands. This region lies on coral and will disappear with the rise in sea levels, ”she added..
Funding for the project comes from volunteer donors through the Seasteading Institute and Blue Frontiers, the first of which was founded in 2008 by PayPal co-founder Peter Thiel. Earlier it became known that Thiel’s Founders Fund can hold hundreds of millions of dollars in bitcoin. The project sponsors receive the Varyon cryptocurrency to be used on the island. The cost of developing and implementing the project will be approximately $ 50 million.
Mezza Garcia hopes that their project will inspire other groups to create similar islands.
“If people do not want to live under a certain regime, they can simply take their homes and swim across to another island,” she explained..
Earlier, a representative of the Binance exchange denied rumors that his company is creating an island blockchain state..
“Found a state? The fabrication of such a story is sheer absurd, ”he said, adding that those who disseminate such information seek to put the exchange in a negative light in front of regulators.
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