{"id":57702,"date":"2022-02-14T17:03:35","date_gmt":"2022-02-14T15:03:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=57702"},"modified":"2025-09-04T13:02:46","modified_gmt":"2025-09-04T10:02:46","slug":"crypto-investor-unveils-plans-for-a-city-for-bitcoin-supporters-in-the-pacific","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/crypto-investor-unveils-plans-for-a-city-for-bitcoin-supporters-in-the-pacific\/","title":{"rendered":"Crypto investor unveils plans for a city for Bitcoin supporters in the Pacific"},"content":{"rendered":"<p>British crypto investor Anthony Welch has bought Lataro Island, spanning 300 hectares, and renamed it Satoshi. He plans to build a smart city there for supporters of digital assets, <a href=\"https:\/\/www.theguardian.com\/technology\/2022\/feb\/12\/bitcoin-paradise-briton-creates-crypto-utopia-in-south-pacific\">The Guardian<\/a> reports.<\/p>\n<p>According to the publication, over the past 12 years Welch has lived on the island with his partner Teresa. They expect that soon 21,000 cryptocurrency investors from around the world will join them.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cYes, we already own the island. Yes, we can develop as advertised. Yes, the government supports our plan. Yes, our team has relevant expertise\u201d, \u2014 the project description says.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Watch our video &#038; see how we\u2019re turning a dream into reality!<\/p>\n<p>Yes, we already own the island<br \/>Yes, we can develop as advertised<br \/>Yes, the government supports our plan <br \/>Yes, our team has relevant expertise<\/p>\n<p>\ud83c\udfdd\ufe0f<a href=\"https:\/\/twitter.com\/hashtag\/satoshiisland?src=hash&#038;ref_src=twsrc%5Etfw\">#satoshiisland<\/a> a home for crypto enthusiasts &#038; professionals worldwide! <a href=\"https:\/\/t.co\/1O05kmfrN1\">pic.twitter.com\/1O05kmfrN1<\/a><\/p>\n<p>\u2014 Satoshi Island (@satoshiisland) <a href=\"https:\/\/twitter.com\/satoshiisland\/status\/1486531640822317062?ref_src=twsrc%5Etfw\">January 27, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Satoshi Island lies in the archipelago of Vanuatu between Australia and Fiji. According to the plan on the site, its public opening is scheduled for the first quarter of 2023.<\/p>\n<p>The team said it would liaise with financial and land regulators of Vanuatu. The authors of the project expect to operate &#8220;in conditions of a degree of autonomy&#8221;. The republic has no taxes on profits, dividends, income or capital gains.<\/p>\n<p>The team intends to turn the private island of Satoshi into the &#8220;cryptocurrency capital of the world&#8221;. For this they plan to build offices and multi-storey residential buildings there.<\/p>\n<p>In early January, registration opened for obtaining the citizenship of Satoshi Island in the form of <span data-descr=\"non-fungible token\" class=\"old_tooltip\">NFT<\/span>. According to The Guardian, residents will also have to obtain residency in Vanuatu for an investment of $130 000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Citizenship NFT Applications are open! <\/p>\n<p>Apply here: <a href=\"https:\/\/t.co\/S5UVQUKxWu\">https:\/\/t.co\/S5UVQUKxWu<\/a> <\/p>\n<p>The first 1000 verified applications are automatically granted citizenship. Subsequent applications will go into a draw. Good luck!<\/p>\n<p>Learn more: <a href=\"https:\/\/t.co\/TApRc2Ndle\">https:\/\/t.co\/TApRc2Ndle<\/a><a href=\"https:\/\/twitter.com\/hashtag\/satoshiisland?src=hash&#038;ref_src=twsrc%5Etfw\">#satoshiisland<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&#038;ref_src=twsrc%5Etfw\">#NFT<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/airdrop?src=hash&#038;ref_src=twsrc%5Etfw\">#airdrop<\/a> <a href=\"https:\/\/t.co\/27ITKal7t3\">pic.twitter.com\/27ITKal7t3<\/a><\/p>\n<p>\u2014 Satoshi Island (@satoshiisland) <a href=\"https:\/\/twitter.com\/satoshiisland\/status\/1479903717906395139?ref_src=twsrc%5Etfw\">January 8, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the site, commitment to sustainable development and plans to offset the carbon footprint are stated. The island team intends to generate 100% of the needed energy on-site using renewables.<\/p>\n<p>Nevertheless, Twitter users criticized the idea for its lack of environmental sustainability.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe need to know that nature will be respected, or this project will be a disgrace to the world of crypto\u201d, \u2014 Carles Cort\u00e9s Costa.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">We need to know that nature will be respected or this project will be a disgrace for the world of crypto<\/p>\n<p>\u2014 Carles Cort\u00e9s Costa (@carles6) <a href=\"https:\/\/twitter.com\/carles6\/status\/1492469176006594568?ref_src=twsrc%5Etfw\">February 12, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>French-American actor Sebastian Roche joined the criticism. He called \u201cthe destruction of a tiny, pristine island ecosystem\u201d a bad idea.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cSoon it will be uninhabitable. It would be funny if it weren\u2019t so sad. Greed is terrible,\u201d wrote Roche.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Imagine thinking that destroying a tiny, pristine island\u2019s ecosystem by bringing 21000 people is a good idea. It would soon be unlivable. This is laughable if it wasn\u2019t so sad. Greed is appalling.<\/p>\n<p>\u2014 Sebastian Roch\u00e9 (@sebroche) <a href=\"https:\/\/twitter.com\/sebroche\/status\/1492427201618362368?ref_src=twsrc%5Etfw\">February 12, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the publication, Welch previously tried to sell the island for $12 million and even approached the local government with a request to declare it a wildlife sanctuary to protect the rare coconut crabs from extinction.<\/p>\n<p>In comments to The Guardian, the owner described the previous plans as strictly a voluntary initiative that did not hinder the construction of the smart city.<\/p>\n<p>One user compared the idea to the infamous Fyre Festival, which was marketed as a large-scale music event on the island, but later turned out to be a major fraud.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Serious <a href=\"https:\/\/twitter.com\/hashtag\/fyrefestival?src=hash&#038;ref_src=twsrc%5Etfw\">#fyrefestival<\/a> vibes here <a href=\"https:\/\/t.co\/WUwnY3fY6X\">https:\/\/t.co\/WUwnY3fY6X<\/a><\/p>\n<p>\u2014 General Melchett \ud83c\udf37 (@MelchettsBeard) <a href=\"https:\/\/twitter.com\/MelchettsBeard\/status\/1472119222151098372?ref_src=twsrc%5Etfw\">December 18, 2021<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier in February, the bitcoin nomad family <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-nomad-family-explains-move-to-portugal-due-to-tax-advantages\">told of moving to Portugal<\/a> due to favourable taxation.<\/p>\n<p>Read ForkLog\u2019s bitcoin news in our Telegram \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>British crypto investor Anthony Welch bought Lataro Island, spanning 300 hectares, and renamed it Satoshi. He plans to build a smart city there for supporters of digital assets.<\/p>\n","protected":false},"author":1,"featured_media":57703,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1695],"class_list":["post-57702","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-smart-city"],"aioseo_notices":[],"amp_enabled":true,"views":"38","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57702","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=57702"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57702\/revisions"}],"predecessor-version":[{"id":57704,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/57702\/revisions\/57704"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/57703"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=57702"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=57702"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=57702"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}