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Home Utopias In The News PayPal and Seasteading

PayPal and Seasteading

Silicon Valley millionaire Peter Thiel talks about his interest in the Seasteading Institute in the September 2011 issue of Details magazine.   As you know, steasteading is the estabilshment of a city-state floating in international waters, which Details magazine - not Thiel - describes as a libertarian petri dish.  Thiel's comparison describes a seastead as a nation established as a corporation, which isn't a particularly bad idea from a Fourierism standpoint, but if the goal is evasion of taxes and intentional lawlessness, it's doomed to fail.  Thiel described the creation of PayPal originally as a means for an international nationstate-free currency for the internet - the system never took off in that way, but it certainly worked off its rough edges and is a useful entity for international commerce today.  Maybe once seasteading wears away its rough Libertarian fantasies, it might prove useful as a way to fill in the gaps between the enormous nationstates and the individuals like PayPal has done.