A decentralized Utopian island is here! A floating island is being built which will exclusively use the cryptocurrency, Varyon. Varyon is backed by Blue Frontiers a company that is currently working on a Floating Island Project.
Floating Island Thesis
Blue Frontier is building the floating island in Tahiti with the intention to reduce people’s reliance on centralized systems. While the decentralized Varyon digital currency will power the economy of the island, there will be no centralized government calling the shots, as is the case all over the world.
Varyon is the currency of choice that will be used for the construction of the island where no government will have a monopoly. The digital currency will also act as the currency of use in the SeaZones.
“A core structural feature of current models of government is centralization. Too much-centralized authority leads to inefficient bureaucracies and representatives disconnected from the people they are meant to serve. Given a suitable technological solution, governments are ripe for decentralization. That technological solution is seasteading,” wrote Blue Frontiers on bitcointalk.
A group of academics investors and philanthropists under the Blue Frontiers umbrella have already entered into a memorandum of understanding with French Polynesia for the creation of the cryptocurrency powered island.
Varyon is the payment token for the exchange of goods and services in the Blue Frontiers Ecosystem, available through the Ethereum blockchain. The company has already unveiled an ICO sale for Varyon that is to be used to generate funds for the development of the decentralized island.
The public sale is to take place in June 2018. However, there will not be bonuses in the public sale. Proceeds from the offering are to be used to expand the ecosystem and for the creation of SeaZones and seastead. Blue Frontiers is to prototype the first seastead using only funds raised from the Varyon Crowdsale.
According to the company, seasteading will bring decentralization beyond the digital world of bits and into the world of atoms by providing floating structures. The end game is to come up with territories where the evolution of new societies and forms of governance will occur.
Development of the floating island is to begin this year with the city expected to be made of modular platforms of either 50 by 50 square meters or pentagons with 50-meter sides. Squares and pentagons are to be connected in branch-like structures with each expected to cost $15 million equivalent to $393 per square foot of gross space.
Seastead concept for 2022
(Source: Blue Frontiers)
Blue Frontier settled on concrete as the material of choice for the construction because of its price and durability. Concrete structures according to initial designs will be molded into sturdy hollow boxes. The modules are expected to support three-story buildings. The design will result in 11 modules which could host between 225 and 300 full-time residents combined, as well as additional hotel beds. The total cost projected for the properties currently stands at $167 million. The first project is to be completed by 2022 and could cost up to $50 million holding 300 homes.
The ambitious project has already started to arouse regulation scrutiny from international bodies. The United Nations, for instance, insists artificial islands are bound’ by-laws of the closest coastal state, within 200 nautical miles. That said it would be interesting to see whether Blue Frontier Island will come into being and operate without any government.