Vanuatu Announces Support for Satoshi Island Community Project

The Vanuatu government announces that it will support the Satoshi Island Community Project, which is a private cryptocurrency island where fiat isn’t welcome. The government’s approval is a big step towards turning the Satoshi Island “pipe dream” into a reality.

The honorable Bob Loughman, Prime Minister of Vanuatu, has released an official letter on the 16th of March stating that the government of Vanuatu welcomes the Satoshi Island project and its community to their country. The letter also highlighted that Vanuatu is looking for new ways to attract investment and people to their country.

The Covid-19 pandemic “severely affected the tourism sector”, which is one of the main contributors to the Vanuatu economy, accounting for approximately 34.7% to the total GDP in 2019. According to data from the World Bank, visitor numbers dropped from circa 300,000 to 80,000 in 2020.

The endorsement is welcoming news for the team at Satoshi Island with the team responding to the news: “With this full endorsement from the prime minister of Vanuatu in hand, we can show everyone that Satoshi Island is as real as it gets, and the kind words of the PM inviting our community to their home could not be a warmer welcome.”

Satoshi Island is a megaproject cryptocurrency utopia in the South Pacific that disclosed its vision, progress and preparation in a recent interview. The prime minister of Vanuatu gave his blessing to the project after Satoshi Island received 50,000 citizenship non-fungible token (NFT) applications.