A group of philanthropists, scientists and investors is developing a project of a sovereign floating state in the Pacific, which will use its own Vayron crypto currency to calculate. This political scientist and researcher of the floating island project Nathalie Mezza-Garcia said in an interview with CNBC.
The pilot project of the "floating island" is being developed in partnership with the government of French Polynesia.
As Mezza-Garcia says, the new island state is planned to be made independent of geopolitical influence and exchange rate fluctuations. In addition, the island will take the so-called climate refugees.
"The fact that the project is being developed near the Polynesian Islands is of particular importance. This region lies on corals and will disappear along with rising sea level, "she said.
The cost of developing and implementing the project is estimated at $ 50 million. This amount should include costs for the construction of 300 houses, as well as several hotels, restaurants and offices.
Currently, funding comes from voluntary sponsors through the founder of PayPal, Peter Thiel , and the grandson of Nobel laureate Milton Friedman, political economist Patri Friedman of the Seasteading Institute and the start-up Blue Frontiers. The latter is responsible for carrying out the ICO project - in exchange for funds deposited, investors receive the island's internal crypto currency - Varyon.
It is expected that an independent island state will appear by 2022.
"If people do not want to live under a certain regime, they can just pick up their homes and swim to another island," says Natalie Mezza-Garcia.
The representative of the project also believes that this initiative will inspire the creation of similar islands and other organizations.