The news is going to cause a stir. The team behind the Satoshi Island project has just obtained the right to develop an island belonging to the Republic of Vanuatu.
The small Pacific island still unknown to the general public would become the heavenly place for crypto-holders. The project will definitely open to the public in 2023. Until then, you can register and apply for your passport for your new citizenship.
We tell you everything in this article.
An initiative to create a crypto city that is not new
We've already seen similar initiatives with the microstate (not recognized by the UN) of Liberland (located between Croatia and Serbia), but Satoshi Island seems to have a stronger legal foundation. It is indeed original and stands apart from the village of El Zonte (Bitcoin Beach) in El Salvador, Sangocoin , or City Coin.
In fact, the group of investors obtained legal authorization from the Vanuatu Prime Minister to "colonize" Lataro, this small island north of New Caledonia.
The island was therefore renamed "Satoshi Island", taking the "first name" of bitcoin founder Satoshi Nakamoto.
A crypto and architectural paradise?
You should know that the first construction work has already started. The houses will have a modern, even futuristic design, judging from the first images found on the site.
The architecture, which adheres to the most advanced environmental principles, was designed by the architectural firm " James Law Cybertecture" . The objective is to create individual houses that consume little energy and meet current ecological standards.
Indeed, given the beauty of the island, the architects sought to respect the local environment.
Major projects are planned on the island concerning basic infrastructure to supply the city with water and electricity. There will be schools and hospitals as well. Satoshi Island is truly designed as a self-contained, independent town with all the necessary services.
Let us remember that the island is virgin for the moment. No buildings exist and everything will be built from scratch.
Moreover, to complete this initiative (which aims to be a real laboratory of ideas and experimentation for future cities), citizenship and land register will be entirely designed in the form of NFT.
Thus, property titles will be entirely digital and traceable on the blockchain. This practice has already won over many landowners, as evidenced by NFT real estate platforms like RealT.
Therefore, there will be no "problem" regarding the ownership of deeds. NFTs remain, in principle, a fantastic solution to the problems regularly encountered in traditional land registries.
It is not only real estate that will be exchangeable in the form of NFT but other services on the island.
The objective is to use cryptocurrencies as much as possible on the island. This will be the main difference with our current cities, we can read on the official website.
The island hopes to welcome 21 residents, crypto holders, it goes without saying.
An island where everything will be paid in cryptocurrency
Obviously, on Satoshi Island, everything will be payable in crypto, and probably in bitcoin.
Better yet, the island wants to be a tax haven and to attract future residents, this is a prime argument. Satoshi Island will not levy tax on profits, dividends or resales from companies or individuals.
Likewise, there will be no capital gains taxes or inheritance taxes.
In short, a tax haven that will certainly attract crypto-millionaires who have chosen to settle in Dubai for the time being.
The island's objective is to attract bitcoin aristocrats , crypto-millionaires who know financial independence, and companies that deal directly or indirectly with blockchain.
How to live on Satoshi Island?
At the time of writing, the project is still little known. The news has not been widely reported at the moment. This makes it a perfect time for those who may be interested.
Registering for Satoshi Island "nationality" is quite simple. It's worth noting that Satoshi Island nationality is legally distinct from that of Vanuatu.
Simply follow the steps on the website, here :
- You will need to have a Twitter account with more than 21 followers for individuals and 21,000 followers for influencer accounts.
- Naturally, you must have an ETH address (if possible, which has already been active on Opensea). Indeed, the first airdrop will take place on the Opensea marketplace.
- Then, you must answer an online questionnaire (this is simply to validate the project agreements).
- There it's done! You have made your request and now all that remains is to pray to be elected.
Remember that you will have to buy real estate to be able to live on the island. At the moment, prices are not yet known…
How to buy STC token (Satoshi Island Token)?
Some people cannot afford land. However, it is entirely possible to buy the token (and invest) from the island.
To buy official Satoshi Island crypto, you have many options. You can buy the STC token directly on exchange platforms such as:
- OKX: (Read our article on OKX platform)
- Here are the other sites where you can buy STC token
| 1 | Huobi Global | STC/USDT | €2.78 | €910.91 | €1,291.25 | €10,816,838 | 87,65 % | High | 138 | Recently |
| 2 | OKX: | STC/USDC | €2.80 | €1,918.46 | €3,262.59 | €629,183 | 5,10 % | High | 79 | Recently |
| 3 | PancakeSwap (V2) | STC/BUSD | €2.79 | €290,913 | 2,36 % | N/A | Recently | |||
| 4 | PancakeSwap (V2) | STC/USDT | €2.80 | €367.76 | 0,00 % | N/A | Recently | |||
| 5 | Bitmart | STC/USDT | €2.80 | €349.64 | €583.95 | €394,176 | 3,19 % | Moderate | 84 | Recently |
| 6 | Bitget |
You can also buy them on DEXs and the Binance Smart Chain network for now. Pancakeswap is therefore a perfect option for doing so. If you're not comfortable with DeFi, feel free to use a simpler exchange platform like OKX.
Satoshi Island: a laboratory for a new type of city?
Although the project arouses many enthusiasts among crypto-holders (what surprise?), the enthusiasm is not shared by all.
Some criticize the fact that it could become a rogue state where the biggest crypto criminals would retire.
However, this is generally the argument that anti-cryptos give for all subjects that affect this area….
This nevertheless remains a formidable attempt to concretely measure the impact of cryptocurrencies in a city on a human scale. It is also an opportunity to adapt the decentralized governance model in a real city.
We can expect that more and more initiatives of this kind will appear, in different parts of the globe.
Projects like CityCoin, used by cities like Miami, are already striking examples showing us that the future no longer seems to be able to do without cryptocurrencies…
—>Discover the Satoshi Island website
—-> Buy STC token on OKX.
-
Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.
To buy cryptocurrencies (in a simple way) :
Generate interest on your cryptocurrencies:
To secure your cryptocurrencies:
To have fun and play
- The best for Esport and Bitcoin sports betting : CloudBet
- Discover the reliable bitcoin casinos
Learn more about ZoneBitcoin
Subscribe to get the latest posts sent to your email.
