A group of biologists, nautical engineers and biologists will be working together to build a floating city by 2020. With the financial backing of Paypal founder Peter Thiel, the "Seastead" project will have a budget of $167 million to bring the concept into life.
The floating city, as shown in science fiction, is a city that uses buoyancy to remain in the atmosphere of a planet. It could become mankind's salvation when water drowns all land forms.
The Seasteading Institute has been researching for five years on building the world's first floating city, including its design, the needs of its first inhabitants and the location. The floating city will have residential spaces, a tourist area, business park, research institute and a powerplant that would supply energy to the city and to sell outside the city.
Once the floating city is completed, between 250 to 300 people will be its first residents and the population could reach tens of millions by 2050, according to the DailyMail.
During the first phase of the floating city project, the researchers searched for a host country that would allow them to build the city on its territorial waters. Having a host country would cut the cost, avoid legal issues and make it easier to get supplies.
Phase Two began in 2014 when the researchers brought the architects and engineers to the location of the floating city to study the area. Seasteading Institute did not disclose the location but said that they are still on this phase.
The institute was able to crowdfund over $27,000 for the actual design of the city created by Dutch aquatic design firm DeltaSync. The floating city would have square and pentagon platforms made of concrete. It would be surrounded by walls that stand 50-feet tall, enough to support three-storey buildings, apartments, offices and other structures.
