Suffocating the government’s strict business and crypto regulations, then you should create an island of your own that has its own government and uses cryptocurrency as its main legal tender.
The seas are the answer to a polluted universe and regulations that disrupt business expansion. Seasteading (a clever pun on “homesteading”) and BlueFrontiers are startups that are designing man-made islands that will support over three hundred homes with their own government and legal tender.
Cryptocurrency is becoming a first-choice currency for utopia builders like Elon Musk, who need an efficient, non-physical tender.
According to Blue Frontier’s website:
Our mission is to further the long term-growth of the seasteading movement. Our current focus is to enable the first seasteads by researching critical engineering, legal and business challenges, increasing public awareness, and building a core seasteading community.
The project will be starting on the Polynesian Islands. According to Nathalie Mezza-Garcia, a researcher at Blue Frontiers, “There is significance to this project being trialled in the Polynesian Islands. This is the region where land is resting on coral and will disappear with rising sea levels. Once we can see how this first island works, we will have a proof of concept to plan for islands to house climate refugees”
Blue Frontiers also launched an ICO to raise capital. As stated on their website:
Blue Frontiers is planning to use the proceeds of the sale to expand its ecosystem and create SeaZones and seasteads, and will only accept Varyon (VAR) for its products and services.
We cannot help but criticize the project for not being open to other cryptocurrencies for trade, even as they claim they want to create an open government framework.
Although seafasting sounds like it’s come straight out of a sci-fi novel, it could potentially lead to a dispute with governments. The regulations crackdown on cryptocurrencies most likely won’t conveniently exclude man-made islands. However, the project could take a few tips from the Caribbean islands, to encourage crypto business. Their pro-bitcoin stance has attracted to the islands a utopia of their own, with bitcoin whales moving in, startups, and venture capital.
Smaller governments with regulation flexibility are in a unique position for making easier regulations for crpyto businesses when larger countries have a lot of political and central bank bureaucracies that hinder progress.