Satoshi Island Limited, the startup that is committed to building the crypto capital of the world as a smart city in Vanuatu, has announced it has secured approval from the Prime Minister of Vanuatu for this project.
As revealed by the team behind the project, an earlier approval to build the city on a private island of 32 million square feet owned by Satoshi Island was obtained from the Finance Ministry last year, and the Prime Minister’s endorsement shows the national identities with its vision for the future with Bitcoin being a prominent part.
The proposed Satoshi Island project has tapped the services of the architectural firm,
James Law Cybertecture to help in the design, master planning, and development process of the island. The building units as showcased on the project’s website show a unit of solar-powered Satoshi Island module built to be soothing to the climate and beauty that Vanuatu Island exudes.
Per the endorsement from the Prime Minister, there is an expectation that the project if completed will add economic value to the local people and business, a much-needed respite following the pangs of the COVID-19 pandemic.
The Satoshi Island project will welcome transactions solely in Bitcoin (BTC) and altcoins and access to the Island will be guaranteed by holding a Satoshi Island Non-Fungible Token (NFT). Besides the Satoshi Island NFT airdrop slated for this first quarter, the project timeline details series of mints which encompasses a total of 7 categories.
While the physical island development will commence in the second quarter of the year, the island will be opened for temporary visitation by Citenzenship NFT holders in the fourth quarter with colonization built from that point onward.
While Satoshi Island seems to be making headway in its ambition when other related projects, including Akon City, are not making many strides at the moment, the world is also expecting the build-out of the Bitcoin City by the government of El Salvador which is now very bullish on the premier digital currency.
Image source: Blockchain.News