FRENCH POLYNESIA — The ultimate libertarian fantasy of an autonomous floating habitat could become a reality in just a few years.
CNBC reports that nonprofit organization Blue Frontiers is heading the Floating Island Project, which seeks to build up to 300 homes on a manmade island off the coast of Tahiti.
Despite partnering with and being located in French Polynesia, the floating community will be self-governed and have its own cryptocurrency called Varyon.
The Varyon payment token can be exchanged for goods and services in the Blue Frontiers ecosystem, in other island systems, or between token holders.
Houses on the island are movable, so residents can easily float away to another seastead if they don't want to live under a particular government.
Since land in this region will likely disappear with rising sea levels, organizers say the new island could provide housing for the displaced. The community would also function as a business center, one that's stable and free from government regulation.
Blue Frontier's pilot island is expected to cost up to $50 million, and be up and running by 2022.