Stellar Lumens (XLM) Forum with for newcomers and contributor's rewarded Check here

Floating City With Its Cryptocurrency is Not Science Fiction Anymore
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5

[Image: floating_city.jpg]

The construction of the world's first floating city will be finished by 2022; the metropolis will have its own government and cryptocurrency.

Ten years ago Peter Thiel, famous tech billionaire and former advisor of US President Donald Trump co-founded a non-profit organization called Seasteading Institute and invested money in a venture that can become the biggest city on a seaborne platform.

In May 2018, the pilot project went into the active construction phase following an agreement signed with French Polynesia's government. The company behind the project plans build 300 houses, set its own government and launch a cryptocurrency called Varyon - all by 2022, Business Insider reports.

The project founders see it as a way to expand decentralization beyond the digital world and foster the evolution of new societies and forms of governance. Moreover, their vision is not limited to creating a floating utopia free of regulation and taxes; they believe that the floating city is a way to survive rising sea level.

Quote:"Floating islands solve two of the biggest problems in the world: Sea level change and the lack of start-up innovation in governance," Joe Quirk, president of the Seasteading Institute explained.

The island will be located about 1 km from the shore, and the citizens will get back to the land by ferry. The city will use wind and solar power to generate electricity and grow much of its food through agriculture to ensure maximum independence.

The city will have a modular structure of dozen of islands, which will be managed by Blue Frontiers, a new startup launched by Joe Quirk. The estimated cost of the project is $60 million, which the company plans to raise via ICO.

The Varyon cryptocurrency pre-sale started on July 5 with discounts of 5-15%; the team has already raised the half of its soft cap set at 4,000 ETH. The pre-sale round will be closed on July 14. However, the official date for the public crowdsale round is yet to be specified. The total supply has been set at 1 billion tokens with only 36% available for sale. Varyon (VAR) will be used to purchase residences and buildings on the seasteads from Blue Frontiers.


Possibly Related Threads...
Thread Author Replies Views Last Post
  Cryptocurrency Malware Education – XBash crytocure 0 4 1 hour ago
Last Post: crytocure
Last Post: crytocure
  Hackers Start Using Ngrok Reverse Proxy Technique in Cryptocurrency Mining crytocure 0 7 4 hours ago
Last Post: crytocure
  (Besides Baggies) Who’s Riding The Cryptocurrency Wave? crytocure 0 24 Yesterday, 08:47 AM
Last Post: crytocure
  Back of the Net: Cryptocurrency Stands to Win Big in the Football Sector crytocure 0 20 Yesterday, 08:33 AM
Last Post: crytocure
  mCoin, the only Cryptocurrency without internet now in Africa crytocure 0 45 17-09-2018, 06:54 AM
Last Post: crytocure
  Self-Managed Super Funds Pushing up Australian Cryptocurrency Activities crytocure 0 38 17-09-2018, 06:48 AM
Last Post: crytocure
  Dear Cryptocurrency Users, Here’s 5 Blockchain Facts All Investors Should Hear crytocure 0 56 16-09-2018, 09:31 AM
Last Post: crytocure
  Brazilian Football Club Avaí to Launch Cryptocurrency, $20 Million ICO crytocure 0 35 16-09-2018, 09:24 AM
Last Post: crytocure
  Bloomberg: Morgan Stanley is Building a Cryptocurrency Product crytocure 0 28 15-09-2018, 09:26 AM
Last Post: crytocure

Users browsing this thread: 1 Guest(s)