Security News > 2022 > March > Satoshi Island: 'Crypto paradise' where citizenship costs $130,000
The Satoshi Island we're talking about isn't a tale of fiction, but a real-life private island dedicated to the crypto community.
Located in the tropical paradise of Vanuatu, between Australia and Fiji, the island is owned by Satoshi Island Holdings Ltd., which intends to turn it into "The crypto capital of the world"- a place where crypto enthusiasts and professionals can thrive.
"After years of preparation, a green light from the Vanuatu Prime Minister and Minister Of Finance and all approvals in place, Satoshi Island is now ready to be developed into a real-world crypto economy and blockchain based democracy," says the company, that foresees the island operating as "a decentralized autonomous organization" in the future.
In an interview with Cointelegraph last week, Satoshi Island team of Denys Troyak, James Law, Taras Filatov and Benjamin Nero said that the crypto paradise will be "a true crypto-economy" where everything can be paid for and bought in crypto.
The island website explicitly states, "Satoshi Island Citizenship NFTs have no relation to citizenship of Vanuatu," and the company tweeted a clarification reinforcing the fact.
"It is important to remember that a Satoshi Island Citizenship NFT is not the same as a Vanuatu Citizenship. However, Vanuatu does have a well respected citizenship by investment program for people looking for a second passport," explains the Island team.