The world’s first independent Floating Nation, which will start its activities in the Pacific ocean in 2022, will exist outside of government regulations and use its own cryptocurrency “Vayron”.

The plans will be a prominent Maritime city state with 300 houses and several hotels, restaurants, offices, etc. built in the Pacific ocean off the Island of Tahiti.

The author of the project, worth 37 million pounds (50 million USD) — PayPal founder Peter Thiel. The pilot version of the program runs in partnership with the government of Polynesia and is supported by the movement of scientists, philanthropists and investors.

Nathalie Mezza-Garcia, a political scientist and researcher of the project “Floating island,” says that the inhabitants of the island will be free of the “fluctuating geopolitical influence and trade issues”. Speaking to CNBC , Ms. Mezza-Garcia, researcher at the University of Warwick, said:

“For this project, tests have been conducted on the Polynesian Islands. It is a region where the earth rests on the coral, and which is gradually disappearing under the water. Once we see how this works first island, we will have a proof of concept of planning for Islands to house climate refugees.”

The scheme is to create a non-profit Institute Seasteading Institute and Blue Froniters, which, together with the investment Fund Thiel will accept charitable donations via their own cryptocurrency tokens Vayron.

In the construction of buildings will use local bamboo, coconut fiber, wood and recycled metal and plastic.

Peter Thiel wants to create an independent nation that floats in international waters and operates under its own laws in order to “free humanity from politicians.”

On the floating island, in addition to 300 houses will publish aquaculture farms, medical institutions, medical research institutions and a sustainable energy power plant. It is assumed that the first inhabitants of the floating city will be 300 people.

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