$50 million crypto island can appear in Pacific Ocean

Posted 21 May, 2018

The floating island is reportedly about to arise in the Pacific ocean. The new island country is designed to have its own cryptocurrency called Vayron. The project will cost some $50 million, including construction of the infrastructure, 300 homes, hotels, offices, and restaurants.

The pilot project is developed by a community of charity providers, scholars, and investors in cooperation with the authorities of French Polynesia. The group of enthusiasts plans to create a state that will be independent of geopolitical impact and currency rate fluctuations. Moreover, the project will be able to accept so-called "climate refugees", as the media reports citing the expert in this matter.

"There is significance to this project being trialed in the Polynesian Islands. This is the region where land is resting on coral and will disappear with rising sea levels", commented the project expert.

The funding comes in the form of donations via PayPal and Blue Frontiers. Notably, Blue Frontiers deals with the project ICO, under which investors will receive Varyon coins.

The island is likely to float out by 2022. It is expected that the project will encourage other organizations to create more similar islands worldwide.

Previous story

22 May, 2018 10:34

← US dollar no longer at peak, insiders wait for Federal Reserve meeting minutes

The US dollar upturn has slowed down on Tuesday – trading was recorded below the 5-month high. The dollar had expanded positions on higher state-bond yields and US-China trade issue easing. The US Dollar index was recorded at 93.593 after hitting the peak at 94.058 observed a day ago. Traders probably booked some profit from stronger dollar seeing...

US dollar no longer at peak, insiders wait for Federal Reserve meeting minutes

Next story

21 May, 2018 13:22

Red4Sec finds vulnerability in some NEO smart contracts →

Lately, the developers of the NEO blockchain project confirmed the weakness in NEP-5 smart contract code that had been detected by Red4Sec. It has been stated that a few NEP-5 tokens were found vulnerable. According to the reports, a hacker can burn some tokens or raise their count after changing totalSupply attribute in the contract.

Red4Sec finds vulnerability in some NEO smart contracts
Write a comment
Prove you’re not a bot + 8 = 25