Marinea – Sustainable ‘Village At Sea’ – Plans To Use Bitcoin

Journalist:
August 25, 2016

Marinea, a company planning to establish a self-sustaining “Village At Sea’ between Miami and Cuba, plans to use bitcoin as its currency and eventually have its own electronic currency.

Bitcoin, a decentralized currency with no centralized governing authority, naturally fits the Marinea goals of being an independent, self-sustaining society.

Marinea is a utopian concept for a village existing in harmony with nature, where citizens will be able to live their lives as they see fit. Another goal is to address the challenges related to limited available land for food cultivation and human habitation. According to its website, the project has been in the works for a decade.

Marinea’s Objectives

The plan is to create the infrastructure and framework for independence from land and the problems that come with it, while providing affordability and availability of food, water and energy. Another objective is to be replicable so that other villages at sea can develop.

The concept is also referred to as “seastead,” a floating city.

“We strive to make a better standard of living a reality for everyone,” the website stated. “Marinea is hoping to make economical living a reality for everyone.”

Bitcoin’s Role

The website noted that bitcoin has existed long enough and has been accepted by enough people that it will always serve a need.

Furthermore, bitcoin holds value better than dollars and can move electronically. “When we become our own country, we may wish to have our own currency but if we do, it will be something electronic like bitcoin but backed by some other commodity like silver,” the website noted.

The project’s initial funding will come from angel investors, memberships and individual sponsorships. Marinea will provide utilities, communications, Internet and construction services through partnerships and subsidiaries. It will also own a fueling station and a marina for boaters. It will generate revenue from the service it provides instead of taxes.

The location planned for Marinea is known as Sal Bank, an elevated area in the ocean which the Bahamas claims. Marinea plans to share it research with the Bahamas and does not expect any objection from the Bahamas.

Also read: ‘Seasteads’ offer liberetarians the vision of floating cities for the future. The currency? Bitcoins.

A Three-Phase Project

The project has three phases. The immediate goal is to establish a village square in shallow waters. In the short term, a town center and the marina will become operational. The long-term goal is for the full concept to come to fruition.

Marinea will eventually develop its own industries, the initial ones most likely being tourism and real estate.

Eventually, Marinea envisions having fish farming, medical research, and services that are not permitted in authoritarian countries.

Marinea does not have any competitors at present. The project is based on cooperation rather than competition. Marinea looks to partner with many types of companies to establish a synergistic, innovative environment.

Featured image from Shutterstock.

Tags: Bitcoin
Lester Coleman

Lester Coleman is a media relations consultant for the payments and automated retailing industries.