Aussie Cruise Ship to Become World’s First Crypto “Seasteading” Hub in International Waters

Saturday 10 October 2020, 12:00 PM AEST - 1 week ago

Former P&O Cruises Australia cruise ship the Pacific Dawn is set to take on a new role in the post-COVID cruise economy — by becoming the world’s first floating “seasteading” community specifically for cryptocurrency, blockchain, and decentralized startups and entrepreneurs.

The Pacific Dawn, formerly a flagship cruise liner owned by the Australian arm of international cruise industry giant P&O, will be acquired by a company called Ocean Builders. The deal between P&O Cruises Australia and Ocean Builders will see the Pacific Dawn, built in 1991, anchored in the Gulf of Panama to become a “floating, off-grid home” for digital entrepreneurs.

The sale of the cruise ship, driven by economic fallout caused by shrinking cruise industry profits, is set to finalize on November 4 in the Mediterannean. The Pacific Dawn will be renamed as the “Satoshi.”

Chad Elwartowski, the COO of Ocean Builders, highlighted the importance of technological experimentation and development to the purchase of the Pacific Dawn in statements released to Maritime Executive:

“We look forward to creating a hub for technology and innovation here in Panama. Our goal is to figure out how to live sustainably on the sea and chart new waters in this new frontier.”

Elwartoski has experimented with “seasteading” before, recently capturing the attention of the Thai Navy for establishing an offshore “seasteading” home in the Andaman Sea off the coast of Thailand.

The core goal of the project, states Elwartowskiu, is to create an international offshore hub for digital entrepreneurs, cryptocurrency ventures, digital nomads, and startups that want to test innovative new technological solutions in a controlled environment. 

Crypto Cruise Ship Sets Sail

The Ocean Builders project has been highlighted by the company as the “Crypto Cruise Ship,” and will make cabins available for purchase via auction starting from November 5, 2020. The first auctions will see the deck 10 staterooms of the vessel auctioned in a similar fashion to a condo, allowing buyers to take full ownership over a cabin. While buyers will own the rights to the staterooms they purchase, they will be required to pay a monthly fee to cover the operational expenses of the vessel.

The first sale of cabins in the renamed “Satoshi” will see 200 cabins auctioned with prices starting at $25,000 USD. A total of 777 cabins will be made available in the crypto cruise ship, with an anticipated total occupancy of 2,020 passengers.

Ocean Builders has announced that residents will be able to use cryptocurrency to pay for services and amenities aboard the ship, which include bars, lounges, casinos, restaurants, and gyms. The Pacific Dawn — soon to the the Satoshi — will set sail from the Mediterranean and will anchor in the Gulf of Panama, with a 30 minute ferry ride taking residents to and from Panama City.