The Floating City to Have Its Own Cryptocurrency (+ VIDEO)
Floating city is no longer a dream. The project will be completed in 2022 and will promote its own government as well as a cryptocurrency.
It may become the most captivating city on a seaborne platform. The idea was developed by popular tech billionaire Peter Thiel, who made a thoughtful investment in a non-profit institution dubbed Seasteading Institute.
The project was approved in May 2018, and after signing a contract of agreement with French Polynesia’s government, it entered the construction period. The company responsible for creating the city on the water intends to build 300 houses, which will be conducted by a newly formed government and will use the city’s own cryptocurrency dubbed Varyon. All of this will be available only in 2022, as reported by Business Insider.
The founders of the project want to promote decentralization at a wider level and create a digital space governed by its own laws. Apart from the fact that they will build a unique city where taxes and legislation will be almost nonexistent, the founders plan to come to the aid of the waters.
“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 detailed.
The mini island will be located just 1 km from the shore and the way to and back will be done by ferry. Electricity will be generated by the city’s own sources: solar and wind power. Moreover, the city will develop its own agricultural environment.
Pre-sale for Varyon: 5-14 July
The city will represent an ensemble of dozens of islands, which Blue Frontiers, a startup founded by Joe Quirk, will take care of. The project has an estimated price of $ 60 million to be obtained through the ICO.
The pre-sale period for the Varyon crypto coin began on 5th July and will last until July 14th. If you hurry, you will get a 5-15% discount. The total quantity was set at 1 billion tokens, of which only 36% are currently available for sale. The city’s own cryptocurrency dubbed Varyon (VAR) will be used to buy real estate on Blue Frontiers land.