A floating Pacific island is in the works with its own government, cryptocurrency and 300 houses

The Floating Island Project plans to create off-shore housing that uses its own currency and operates outside of government regulations. The project is a pilot program in partnership with the government of French Polynesia. A long-term vision for the project is hundreds of new countries floating on the ocean.

The Floating Island Project plans to create off-shore housing that uses its own currency and operates outside of government regulations. The project is a pilot program in partnership with the government of French Polynesia. The project is funded through philanthropic donations via the Seasteading Institute and Blue Frontiers, which sells tokens of the cryptocurrency Varyon.

The pilot island is expected to be completed by 2022 and cost up to $50 million.

Source: cnbc.com