Thiel who has a wealth of 910 million pounds, has given 763 thousand pounds to fund Seasteading Institute to realize his plans. "Perhaps many think is impossible, but it's an advantage for us," said Thiel.
The advantage is Thiel, until now no one believes will be realized. So no one tried to stop us. "Until they are late," he said.
The idea of floating the country is derived from the radical liberal ideas, which respects individual liberty. This floating state will differ completely with conventional state.
"Creating a floating state is the only way to create a new society on earth," reads a statement Seasteding Institute, who became head of the project.
The agency is operated by Patri Friedman, a former Google engineer who is also the grandson of Nobel laureates Milton Friedman economics. Magnitude of the state's plan could accommodate 10 million people in 2050. Currently they are preparing miniature that holds 270 people.
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