Floating-Island MicroNations with Own Cryptocurrency
Ever heard of Floating Island Micronations or Seasteads? If you answered no, you are surely not the only one. Essentially, these are man-made islands with their own system of governance and their very own cryptocurrency called the Varyon (VAR). The Floating Island Project, the first of its kind, is a pilot planned to launch in French Polynesia as early as 2022.
This sample-sized nation is the brainchild of Blue Frontiers and The Seasteading Institute, in partnership with French Polynesia. They are creating a brand new industry called Seasteading. Seasteads are fully autonomous, self-governing and sustainable, floating islands. Like pieces of a jigsaw, Seasteads can be assembled, and disassembled as needed. Initially, the idea was to deploy these to places impacted by rising seas. In the process, the idea grew to include developing an autonomous MicroNation pilot that will adapt to rises in sea level. The pilot will act as a proof of concept to develop more islands.
The Micronation island will be enabled by blockchain. Blue Frontiers launched the Varyon (VAR) currency to act as a general-purpose payment token which can be used for payments of goods and services within and amongst Blue Frontier ecosystems, including the Floating Island Project, and all other Seastead MicroNations to follow. Blue Frontiers plans on using the proceeds from the VAR token sale to help create the Floating Island Project as well as their overall ecosystem. The initial island nation will include 300 homes and is expected to cost $50 million.
Seasteads are meant to offer unique and fluid systems of governance. Government and economics are expected to be self-balancing and mold to the needs and preferences of MicroNation residents. Those elected to positions of power will be incentivized to act in the interest of island residents. Thanks to the modular nature of these MicroNations, if residents become disenchanted by the system of governance or economic inequities, they can simply detach their floating property and navigate to a different Seastead that better suits their expectations.
So if you are disenchanted by the system of governance in your current country of residence, the perfect solution may be right around the corner. Soon, finding the perfect fit may be as simple as shopping for the right MicroNation that suits your specific needs and preferences. In these conceptual fluid nations, the Seastead is the physical platform, the Seazone is the legal platform, and the Varyon is the way to buy goods and services.
Blue Frontiers Global is already organizing monthly meet-ups, in places like San Fransisco and Hong Kong, where people gather to learn how to make sustainable floating islands a reality and join the nascent, but growing, global Seasteading community. For more information about Floating Island Project, Seasteads, and Blue Horizons, visit: https://www.blue-frontiers.com/en/seasteads
Disclaimer: Nothing written in this or any other article on our website should be taken as financial or legal advice. Therefore, we cannot be held liable for any investments you make. Investing in cryptocurrencies is highly speculative, and you should never invest more than you are willing to lose.
Written by Roxygen