Artificial island creator ‘’Blue Frontiers’’ signed a million worth agreement with French Polynesia to build an island that is basing its’ main operations only on the blockchain. The idea is to build the governance and cryptocurrency of its own for this project. Cryptocurrency Varyon (VAR), which is related to ERC-20 tokens, is going to be adopted on an island.

The main idea of this project is to break the pattern of the current regime of the centralized government. Centralized power leads to ineffective bureaucracy, which results in the huge gap between the government and common people. However, there is a possibility to build a technology that provides the incentives for decentralized authority and ruling. This technology is called ‘’systemading’’ - the practice of creating permanent settlements on structures located in areas of the sea that are beyond the jurisdiction of any government.

Blue Frontiers named its project ‘’Prelude’’. It is the floating city that promises a better future with eco-friendly solutions and decentralized ruling system. What is more, it is taking blockchain technology beyond the digital scope of usage.

Sources:

https://bits.media/news/proekt-plavuchego-ostrova-s-sobstvennoy-kriptovalyutoy-stal-na-shag-blizhe-k-realizatsii/

 http://www.technector.com/science/six-houses-future-will-protect-climate-change