Cash is not king here.
A group of blockchain enthusiasts are turning a 32 million square foot island into what they hope will soon be considered the “crypto capital of the world.”
“After years of preparation, the green light from the Prime Minister and Minister of Finance of Vanuatu, and all the approvals, Satoshi Island is now ready to evolve into a real crypto-economy and blockchain-based democracy,” reads a biography for the 800-acre portion of the island nation of Vanuatu , freshly named after Satoshi Nakamoto, the pseudonymous developer of Bitcoin.
A website for Satoshi Island excitedly describes its futuristic housing stock and how it will evolve into a sustainable, smart city, built with the crypto community in mind every step of the way: all commerce on the island will be cryptocurrency-based, and all assets and Rights are enabled by the NFT property.
Ideally, the island will have around 21,000 permanent residents and is “not a holiday resort,” the location clarifies. It could open to a small group later this year, The Sun reported.
in the a promotional video Set to crescendo-inspiring music, a robotic narrator describes how Satoshi Island will be “created as the first real-world crypto-economy to run solely on cryptocurrency and blockchain technologies.”
“Anyone can own a piece of the island through the availability of an NFT collection consisting of 2,100 uniquely identified blocks of land. Each of these blocks is large enough to build a home on, and multi-block owners can combine adjacent NFTs to create larger blocks that can house sprawling homes, commercial spaces, or apartment complexes,” she continues.
Located in the “tropical paradise” of Vanuatu, an Oceanian state of about 300,000 people, the private island is operated by a company called Satoshi Island Limited and is accessible by direct flight from Australia, Asia and the west coast of the US and Canada.
The narrator boasts that the island will “become the official home for cryptocurrency professionals and enthusiasts worldwide. A place to visit, work and live in the first real society built around a fully decentralized financial system and blockchain-based democracy.”
The first phase of development is complete, and visitors can expect to check into “traditional-style villas” before exploring the rest of the island that has not yet been developed. Soon, however, it will be filled with futuristic-looking “ultramodern smart homes and offices” designed by architecture firm Cybertecture.
“We designed something special for the island and call it the Satoshi Island Module,” explains James Law, chief architect of Cybertecture, then in the video.
The “autonomous buildings” can be stacked into hundreds of arrangements.
“We’ve built similar buildings in the past, as shown here are the modules we provided to the Hong Kong government,” Law adds, while a clip plays in the background showing the modules being loaded onto flatbed trucks will. “Joining the Satoshi Island team to build an entire smart city based on these principles was a dream come true.”
https://nypost.com/2022/03/28/blockchain-bros-turning-south-pacific-island-into-crypto-paradise/ Blockchain Brothers Are Turning South Pacific Island Into ‘Crypto Paradise’