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Cruise ship ‘Satoshi’ to house crypto companies and digital nomads

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Ocean Builders, a company that builds “floating, off-grid seapod homes,” has bought an old Australian cruise ship it renamed ‘Satoshi’ and plans to fill with crypto companies, entrepreneurs, and digital nomads off the coast of Panama.

In an announcement, Ocean Builders COO Chad Elwartowski, said the ship will comprise a hub for innovation, offering a unique space in which crypto entrepreneurs can build and network:

“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.”

The ship was built in 1991 with the name Pacific Dawn and has since been operated by Princess Cruises and P&O Australia. P&O’s parent company Carnival Corporation decided to sell the ship due to the impact of the pandemic on the cruising industry.

The ‘Crypto Cruise Ship’ is named Satoshi after Bitcoin’s (BTC) pseudonymous creator, with Elwartowski claiming the vessel will host restaurants, casinos, medical services, and a waterpark. Satoshi will anchor in the Gulf of Panama, the island home to many crypto exchanges, and BTC will be accepted to pay for all on-board purchases, alongside U.S. dollars.

The first 200 of Satoshi’s 777 cabins will be sold via auctions scheduled for Nov. 5 to Nov. 28. The cabins are priced between $25,000 and $50,000. However, buyers must also pay ongoing monthly fees to acquire full ownership of the cabins.

The cabins will be sold one deck at a time to give associated entrepreneurs the opportunity to purchase rooms adjacent to one another.

“Our idea for families with children is to buy a balcony or ocean view room for the parents and purchase a cheaper interior room across the hall for the children. We would like to think of your cabin as your bedroom while your living room is the rest of the ship.”

If everything goes according to plan, Satoshi will be available for residency from early 2021.

According to Marine Insight, ‘seasteading pioneer’ Elwartowski and his Thai girlfriend were last year accused of violating Thailand’s sovereignty when they tried to occupy a sea home off the coast of Phuket. The act reportedly saw the home seized by the Thai Navy and arrest warrants were issued for both of them.



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El Salvador reportedly weighing paying employees in Bitcoin

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Rolando Castro, the Minister of Labor and Social Welfare in El Salvador has said that the government is discussing whether companies in the country should pay their employees in Bitcoin.

According to local radio station 107.7 Fuego GMV, Castro has discussed the issue of employers paying their workers in Bitcoin (BTC) with officials from the Ministry of Finance and the Ministry of Economy. His remarks come a week after the country’s Legislative Assembly approved the use of the cryptocurrency as legal tender.

El Salvador’s 2001 Law of Monetary Integration, which provided the legislative framework to eventually replace the Salvadoran colón with the U.S. dollar, states that salaries and fees may only be paid in colónes or dollars. However, the former is rarely used in the Central American nation now.

Related: Bill to make Bitcoin legal tender passes in El Salvador

It’s unclear if the approval of Bitcoin as legal tender in the country will expand upon existing law or replace it. President Nayib Bukele’s draft of the law shows “tax contributions can be paid in Bitcoin” and “for accounting purposes, the USD will be used as the reference currency.”

Since first announcing he would be introducing the pro-Bitcoin legislation at the Bitcoin 2021 conference in Miami earlier this month, Bukele has taken to social media to promote cryptocurrencies and mining in El Salvador. Last week, the president called on the state-run geothermal power company to make certain facilities available to Bitcoin miners.