ZoneBitcoin EditorialThe news will make a big splash. The team behind the project Satoshi Island has just obtained the right to empower 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 had already seen similar initiatives with the micro-state (not recognized by the UN) that is freeland (located between Croatia and Serbia) but Satoshi Island seems to have better legal grounds. It is indeed original and it stands out from the village of El Zonte (Bitcoin Beach) in El Salvador, sangocoin or of 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 that follows the most advanced environmental prerogatives was designed by the architectural firm " James Law Cybertecture ». The objective is to create individual houses which consume little energy and which 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, real estate titles will be entirely digital and traceable on the blockchain. It is, moreover, a practice which has already won over many land owners as evidenced by the platforms of NFT real estate like RealT.
Thus, there will be no “problem” in knowing the ownership of the acts. NFTs remain, in absolute terms, a formidable solution to the problems regularly encountered in traditional land registers.
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 which will certainly attract crypto-millionaires who have chosen for the moment to settle in Dubai
The objective of the island is as much to attract bitcoin aristocrats, crypto-millionaires who experience 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.
To register for the " nationality” of Satoshi Island, the procedure is rather simple. Remember that the nationality of Satoshi Island is distinct from that of Vanuatu, legally speaking.
Just follow the steps on the site, 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:
- OK (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 | OK | 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 on the Binance Smart Chain network at the moment. So, pancake swap turns out to be a perfect option to do so. If you are not comfortable with DeFi, do not hesitate to use a simple 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 blatant examples which show us that the future no longer seems to be able to do without cryptocurrencies...
—->Discover the site Satoshi Island
—-> Buy STC token on OKX.
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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.
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