It sounds like the stuff of science fiction: a floating nation-state, independent from any land-based country and not bound by their laws.
But the Seasteading Institute aims to launch a floating ‘nation’ in 2022 in the Pacific, with up to 300 homes, as well as hotels and offices.
The group, backed by Silicon Valley investor Peter Thiel, this week launched a cryptocurrency (Vayron) to finance the launch.
The group hopes to raise £37 million via the launch saying, ‘’Varyon (VAR) is expected to be required to purchase seasteads, fractional ownership of seasteads and seastead residency from Blue Frontiers.
‘The presale is available today for the first 4,000 ETH with bonuses from 5% to 15%. The public sale date is yet to be determined.’
And the idea might give rise to an all-new kind of human civilisation, according to one of the directors of the firm behind it.
The government of French Polynesia signed an agreement with a U.S. company, Seasteading Institute for a pilot project – but has since said it is ‘non binding’ amid fears of elitism and tech colonialism.
The Seasteading Institute has spent five years researching the idea of permanent floating communities living in international waters.
Director Randolph Hencken said in 2017, ‘We were looking for sheltered waters – we don’t want to be out in the open ocean – it’s technologically possible but economically outrageous to afford.
‘If we can be behind a reef break, then we can design floating platforms that are sufficient for those waters at an affordable cost.’
Mr Hencken said, ‘What we’re interested in is societal choice and having a location where we can try things that haven’t been tried before.
‘I don’t think it will be that dramatically radical in the first renditions.
But I imagine it has the opportunity to have different ways of voting for how things are run off the island instead of using the same systems that our great great-grandparents have given us that seem to have failed in so many first-world nations.’