The government of Vanuatu has announced its approval for the Satoshi Island Project, a private crypto island without FIAT
In the history not often that a country’s leader backs a crypto initiative. El Salvador’s President Nayib Bukele was the first to embrace Bitcoin. The Honourable Bob Loughman, Prime Minister of Vanuatu, has now formally authorized Satoshi Island.
This DeFi island project is coming shortly, and all you need is one of their NFTs to live in this utopia. The South Pacific’s most distinctive island is presently being transformed into the ideal crypto city. Modular houses are being built, and over 50 thousand applications to reside on the island have already been received. Despite receiving over 50 thousand applications, there are only 21,000 investment or resident spots available.
Denys Troyak, James Law, Taras Filatov, and Benjamin Nero are part of the team behind this bold endeavor. They originally came up with the concept in 2017, when the stock market was in the heat of a big bull run. They’ve been working on putting the strategy into operation since then. The idea is now coming to fulfillment, thanks to the discovery of a suitable island in Vanuata, a tropical country in the Pacific. The NFT marketplace will open shortly, and construction is well underway with the government of Vanuatu’s full backing. Those who were fortunate enough to be a part of the incredible project may look forward to moving into their dream house in 2023.
The Satoshi Island team is overjoyed by the endorsement: “With this full endorsement from the prime minister of Vanuatu in hand, we can show everyone that Satoshi Island is as real as it gets, and the kind words of the PM inviting our community to their home could not be a warmer welcome.”
The Republic of Vanuatu is an 83-island archipelago with lovely weather and tropical wildlife and vegetation. They also had to make sure that the landowner’s government was on board with the notion of a crypto city. Moving forward, the team will construct the modular homes utilizing the most up-to-date and environmentally friendly techniques. Satoshi Island will run entirely on renewable energy. According to reports, the government of Vanuatu intends to establish a digital economy in a forward-thinking environment. Notably it would provide jobs for the people who reside there.
Satoshi Island is a place where cryptocurrency aficionados want to live, not just visit. Members of the community will live in sustainable dwellings in a community run by DeFi autonomous organizations, or DAOs, with NFTs representing ownership.
