Satoshi Island could become an exclusive cryptocurrency city in Vanuatu
On an island called Lataro in the north of Vanuatu, a team of cryptocurrency enthusiasts plan to create a crypto paradise.
But questions remain around whether their work is legal.
Satoshi Island is an ambitious project to create a private city run entirely on blockchain technology.
Visitors will be able to pay for their rent, groceries and coffee using cryptocurrencies like Bitcoin.
Denys Troyak from Sydney is a self-professed crypto-entrepreneur.
Though he has never visited the island, Mr Troyak was asked to become the Operations and Logistics Director for Satoshi Island.
He said the project began when a mysterious individual (Mr Troyak would not divulge who the creator was) told him about an idea.
"We always, always sort of joked about, you know, wouldn't be nice if we had a place of our own," he said.
"One day, I got contacted, and [was asked] 'Hey, would you be interested in running operations? We've got this great idea,'"
Mr Troyak said he immediately agreed to start bringing Satoshi Island to life.
At the moment, the island is still mostly empty, apart from a few buildings and a jetty that dot the coast.
But architect James Law, who is based in Hong Kong, has big plans to develop Satoshi Island.
"Future, modular Satoshi Island houses will be touching the sea, as well bigger complexes on the plateau of the island," Mr Law said.
"That will form the kind of commercial centre of the project which will house campuses and crypto companies, startup centres', etc."
By Prianka Srinivasan on Pacific Beat
