The promise of freedom is what Bitcoin and other virtual currencies hold. Also, the immense profits from investing in these virtual assets can enable a person to make their dream come true. This and many more can be said about the first seastead home off the coast of Thailand which has been built by early Bitcoin adopters.
Seasteading Term Formed from the Combination of Two Words
Seasteading comes from the combination of the words “Sea” and “Homesteading,” and it is also known as “land on high seas.” Based on the video documentation uploaded on YouTube by Seasteading Institute, a team of early Bitcoin adopters has successfully built a Seastead home off the coast of Thailand.
More light into how the building came about reveals that $150,000 has been spent for the 6-meter-square, two-story octagon building. However, this was higher than the actual budget given that $30,000 was added to make it a reality. According to Chad Elwartowski, one of the owners of the seastead who spoke to a media outlet, “As it is experimental we ended up adding and adding and adding.”
Elwartowski and Nadia Summergirl are Owners of the Seastead
A couple, Chad Elwartowski and Nadia Summergirl are now the owners of the home. Elwartowski stated that his motivation has always been to find freedom in this lifetime. He also outlined that projects he had participated in the past held the promise of true liberty but failed to deliver.
Nadia Summergirl, on the other hand, said the vision for a seastead home has always been spoken of without being actualized. She added: “I just want to get seasteading to happen for real. I want to make it happen here in Thailand.”
Reportedly, the idea for a seastead was conceived over ten years ago with the aim of creating homes beyond the terrestrial habitat controlled by governments. In the same vein, the team behind the building hoped that one day, these homes would become sovereign states which have their right.
MoU for a Floating Island Project Reached With French Polynesia
In May 2018, a memorandum of understanding for a Floating Island Project was reached with French Polynesia. The latter is a proposed island which was meant to use its cryptocurrency. Reportedly, Elwartowski and Summergirl had planned to take advantage of the Floating Island Project, but due to its discontinuation, they opted for the seastead in Thailand.
On November 2, 2018, BTCNN also informed of a cryptocurrency millionaire, Jeffrey Berns who was making plans to build a Blockchain utopia in Nevada. The proposed project is going to have schools, hospitals, and recreational centers. According to Berns at that time, he aims to give users control over their Bitcoin and Ethereum private keys.