A group of philanthropists, scientists and investors are developing a project of sovereign States floating in the Pacific ocean, which will apply to calculations of its own cryptocurrency Vayron. This political scientist and researcher of the project of a floating island Nathalie Mezza-Garcia said in an interview with CNBC.

The pilot project “floating island” is being developed in partnership with the government of French Polynesia.

Says Mezza-Garcia, a new island nation you plan to make independent of geopolitical influence and currency fluctuations. In addition, the island will host the so-called climate refugees.

“The fact that the project is being developed in close proximity to the Polynesian Islands, has a special significance. This region lies on the corals and will disappear with sea-level rise”, she said.

The cost of development and implementation of the project is estimated at $50 million. this amount should include the cost of construction of 300 houses as well as several hotels, restaurants and offices.

Currently the funding comes from voluntary sponsors through the PayPal founder Peter Thiel and the grandson of Nobel laureate Milton Friedman political economist Patri Friedman Seasteading Institute and startup Blue Frontiers. The latter is responsible for carrying out ICO project in exchange for funds, investors get an internal cryptocurrency Islands — Varyon.

It is expected that an independent island nation will appear by 2022.

The project representative also believes that this initiative will inspire the creation of similar Islands and other organizations.

“If people don’t want to live in a certain mode, they can just pick up their homes and go to the other island,” says Nathalie Mezza-Garcia.

We will remind, in February the government of the Marshall Islands announced its intention to issue its own national cryptocurrency, which will be the legal payment instrument.