Cryptocurrency to fund plans for Pacific floating island

A group behind plans for a floating island in the Pacific has raised around $US1.4 million worth of a cryptocurrency towards the project.

A concept design for the world's first floating town, in French Polynesia

A concept design for the world’s first floating town Photo: Supplied / Blue Frontiers

Blue Frontiers had struck an initial deal for a man-made island in French Polynesia but has had to reassure backers that’s still on the table after local opposition.

It has created the cryptocurrency Varyon to power the economies of any future floating cities, and has minted a total of one billion units.

Blue Frontiers says the public presale for Varyon, which closed yesterday, raised 3,100 units of the cryptocurrency Ethereum, which converts to $US1.42 million at the going market rate.

The company is also offering $US100,000 in prize money to anyone who can secure a concession from a government to host a floating city.

A map shows entrepreneurs from French Polynesia, the Cook Islands and Vanuatu are among those participating in the competition so far.

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About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast ; motivator; author of "AN IMMIGRANT WITH A PLAN" and a John C Maxwell certified speaker . Happily married to Emely and a father to one son and two daughters. My greatest joy comes from inspiring others to maximize their potential. I feel fulfilled when I bring hope to the hopeless and encouragement to the discouraged. The truth is, we each have a past, and it's either our prison, our excuse OR our springboard to a brighter future. The choice is yours but as for me, I made up my mind a long time ago to use my dysfunctional tough childhood as a stepping stone . The late Zig Ziglar used to say "It's not what happens to you that determines how far you will go in life, it is how you handle what happens to you." This is my story and I am sticking to it!
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