Paypal Co-Founder Invests in Floating Self-Sufficient Cities

Peter Thiel, the billionaire who co-founded PayPal, is also the most giving funder of the Seasteading Institute. His goal is to invest in the design and development of self-sufficient floating cities that are liberated from politics and social construction.

Representatives of the Seasteading Institute say that such floating cities will make it possible for future generations to peacefully trial new ideas for government and the most successful could then inspire change in different governments worldwide.

It is worth mentioning that the Institute was founded in 2008 and its latest initiatives are led by Thiel.

During an interview with the Details magazine, the Silicon Valley billionaire said that the only way to go back to the starting point of all things is to create floating cities.

The Institute decided to set up a challenge for architects and liberals around the world to build the world's first independent seastead by 2015. The seastead that will first hit the number of 50 full-time residents, be financially autonomous, provide seastead property on the open market and have political independence will receive the Poseidon Award.

When working on the seasteads, participants should know that their designs cannot flee rough seas and be able to withstand a heavy storm. In addition, these cities should also be modular, so they could be expanded proportionate to the increase in population, be economically built and completely autonomous, reports Gizmag.