In a few years, the first floating city with cryptocurrencies ready?

In a few years, the first floating city with cryptocurrencies ready? A futuristic project is about to start ...

In a few years the first floating city with cryptocurrencies ready? - 5afee558e988ef49008b4f10 750 422

Ten years ago Peter Thiela notorious tech-savvy billionaire and former adviser to U.S. President Donald Trump founded a non-profit organization called Seasteading Instituteby investing large sums of money in a business that could lead to the construction of the largest city on a marine platform.

Well, the plan is no longer science fiction. In May 2018, the pilot project entered the active construction phase following an agreement signed with the government of French Polynesia. The company behind the project intends to build 300 houses, regulate what will happen in the "urban" area with its own regulation and adopt a cryptocurrency called varyon. All within the 2022, says Business Insider.

The founders of the project see this ambitious program as a way to expand decentralization beyond the digital world and encourage the evolution of new companies and forms of governance. Furthermore, their vision is not limited to creating a floating utopia without regulation and taxes; they believe that the floating city is a way to survive the rising sea level, a future that will be difficult to escape from.

"Floating islands solve two of the world's biggest problems: sea level change and lack of start-up innovations in governance," he explained Joe Quirk, president of the Institute Seasteading.

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

The city will have a modular structure of dozens 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 dollars, which the company intends to obtain also through ICO.

The presale of the Varyon cryptocurrency began on July 5 with discounts of 5-15%; the team has already increased half of its soft cap to 4.000 ETH. The pre-sale round will close on July 14th. However, the official date for the public crowdsale round has yet to be specified. The total offering was set at 1 billion tokens with only 36% available for sale. Varyon (VAR) will be used to purchase residences and buildings on the banks of Blue Frontiers.