The Floating City will become the first floating nation on Earth–a Libertarian utopia free of regulation and taxes. It will feature offshore housing, use its own cryptocurrency, and operate ‘outside of government regulations’.
The plan to create the first floating city started off a decade ago when Peter Thiel, an American entrepreneur, venture capitalist, philanthropist, political activist, and author co-founded a nonprofit called Seasteading Institute.
In a 2009 essay, Mr. Thiel wrote, “Between cyberspace and outer space lies the possibility of settling the oceans.”
Since then, the project has taken a long leap, and as things stand now, the institute is set to embark on a pilot project with the Government of French Polynesia.
The world’s first independent floating nation will soon launch in the Pacific Ocean and will operate outside of government regulations, using its own cryptocurrency called ‘Vyron’.
The floating city, a sea-bound city-state featuring around 300 intricately designed homes, a number of hotels, restaurants, offices and other buildings is being built in the Pacific Ocean near the island of Tahiti.
The floating city-state was a project never attempted before.
Its founders imagined the floating city as a Libertarian utopia free of regulation and taxes.
But the plan developed beyond that.
Speaking to Business Insider, Joe Quirk, president of the Institute said how he and his team now see the floating city a way mankind can coup with rising sea levels, which are sadly expected to increase by more than six feet by the end of the century.
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