The Marinea initiative is an intriguing concept. The people running this project see the future of humanity on the sea, rather than on land. Organising a community at sea will be a difficult challenge, though, as an infrastructure for commerce needs to be created. Interestingly enough, they see Bitcoin as the answer to those problems, as everything else has many drawbacks.
Using Bitcoin To Colonise The Oceans
It has to be said; the Marinea project is a bit utopian. Colonising the oceans seems like an impossible task right now, albeit it is not unlikely we will have to venture into the ocean at some point. The population keeps growing, and we are running out of land to accommodate living and growing food. With two-thirds of the earth being an ocean, there are opportunities waiting to be explored.
Marinea will be the first village at sea, located in a tropical paradise. However, this entire community needs to be self-sustaining, without help from the outside world. Expanding the community is equally important. Moreover, the idea has to be replicable to create more villages at sea. Commerce plays a vital role in all of this as well, which creates even more worries to take into account.
Bitcoin seems to hold all of the answers to these problems. Fiat currencies create fractured markets. Residents of a booming economy can buy products on the cheap, whereas international customers need to pay premium prices. Precious metals present an alternative, but they are not overly practical. Then again, gold and silver have real use value, despite being cumbersome to carry around in large quantities.
Electronic currencies, such as Bitcoin, are global, and not controlled by anyone. In fact, they represent the free market spirit, which would be beneficial to Marinea. Instead of creating a whole new electronic currency, why not use one that is already intended for global usage? Bitcoin holds the answer to this problem as well.
While Marinea hopes to create their own currency in the future – which resembles Bitcoin – there is still a long way to go. Most Marinea transactions will be completed in Bitcoin, although other forms of exchange can be used freely as well. An interesting concept to keep an eye on.
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