Are you one of the bunches that loves to explore via cruises? Does the water seem to induce relaxation in you and feel a cruise is just not enough? What if a life on the waters has your name on it, will you test it out? According to the claims made, Blue Frontiers’ aim is to bring a decentralized society on water, that rids the need for governance.
As per their white paper, Blue Frontiers will be taking the first steps towards bringing life on top of water through seasteading. Seasteading is a concept by which permanent residencies are built at sea. What makes this particular society different, as previously mentioned, is that it is not only established on top of water, but also on a territory that does not belong to the government.
Several reasons seem to stem from this idea, as the team involved strongly believes that seasteading can resolve current issues while limiting such an occurrence over the long run. Some of the problems this project claims to address includes rising sea leaves, crowded cities, governance and everything put together, poor economic performance.
Blue Frontiers started raising funds through its pre-sale, in which its native, ERC20 token, the Varyon was offered. According to TrustNodes’ reporting, the team has successfully raised approximately 3,100 Ethereum [ETH], which on average results in about $1.3 million. A public sale is also said to be in place, with the hopes of raising nearly 70 times the ETH raised (i.e. 22,000).
By analyzing the white paper, it appears that the Varyon will be used as the seasteads’ currency, as residents will able to use it to exchange it for goods and services. This includes “purchase or rental of dwellings, timeshares, and seasteads for outright purchases.” As for the services offered in exchange for the Varyon, some consist of business, administrative, utilities, and shipping to name the least.
The pre-sale will allegedly help to work their way up to the set goal. With the current funds raised, the Blue Frontiers’ team trusts that approximately 14 floating platforms will be established – a pilot of the water “estimated at 7,500 square meters, with usual space of approximately 20,000 square meters […], which will house 200 to 300 people.”
The first SeaZone, also referred to as Special Economic Zones at sea, will be a joint effort, as Blue Frontiers is said to be a party to a Memorandum of Understanding (MOU) with French Polynesia’s government. For the time being, the analytical aspects will be carried on, as the research is needed to understand the economic, environmental and legal aspects of the SeaZone.
To ensure that the economic aspect is assessed, Blue Frontiers has supposedly handed the responsibility over to Emsi, who concluded that the:
“Floating Island Project would create 760 jobs in the land and sea zones, supporting an additional 1,400 jobs in French Polynesia, and infuse USD$500 million into the local economy.”
Similarly, Blue21 and GB2A have been hired to provide an outline as to how the environmental and legal aspects will be taken care of on the floating island.
As for the locations that Blue Frontiers plans to establish such societies on, it has been revealed that some of their goals consist of the Pacific and Indian Ocean for now.
While the notion of a government-free society has been projected through the diverse crypto projects to date, this is the first ever to encourage an entire community on waters. How do you see this playing out in the future? With cryptocurrencies’ being associated to money-laundering and illegal activities, do you see this Floating Island as bringing a new concept to life or simply creating more room for problems?