Large Comunity Seastead Businesses – 10,000+
June 5, 2011 at 2:11 pm #1519
This thread is about businesses for a large seastead platform of any kind with a permenant daily population (residents, workers, etc) of at least 2,500 and a temporary daily population (travelers, tourists, etc) of at least 7,500, for a daily average of at least 10,000 Souls On Board. The seastead could be a single huge platform or a matrix of any number of different platforms of any size. It could be build around a single economic purpose, such as GenSeneca’s Kelp-Ethanol platform, or it could be maintained through any other sort of cohesion, economic, political, or otherwise.
Your business can either be based upon the seastead itself or be based elsewhere but focused upon selling goods/services to the people/businesses on this large community seastead. Whatever you imagine, as long as the existence of a large community at sea is central to your business in some way.
If your idea is based upon certain criteria, just mention briefly what you would need for your company to survive. If it does not need any criteria and could operate on any sort of seastead at all, just launch into your business idea and get some feedback. Your idea can be based upon the technologies we have today or perhaps be based upon the realization of an emerging or possible technology, but please keep your posts in this thread tied to the realm of the possible – no mega-laser death ray companies, or sex-slave emporiums, please.
If you have ideas for Single Family/Business Seasteads or ideas for businesses on moderate sized seasteads (a few hundred to a few thousand people) please post them in the appropriate thread.June 6, 2011 at 8:26 pm #13729
For this idea it would be necessary for there to be quite a large worldwide seasteading population; something in the neighborhood of 250,000 worldwide permenant residents, a few million worldwide tourists, and numerous sea-based businesses (I think of them as non-national corporations, as opposed to transnational corporations). It would also be beneficial for certain portions of this idea if there were an agreement of sorts amongst the various sea-based communities concerning the enforcement of loan repayment.
Oceania Trust Standard and Exchange (OTSE) is a financial institution with based upon the large seastead of Oceania, with branches on many of the other medium and large seasteads around the globe. OTSE has no offices on land, and is labeled a non-national corporation. In essence, OTSE takes deposits from individuals and companies and returns interest, loans money to businesses or individuals starting businesses, converts currencies from one currency to another and to and from precious metals, trades on the currency and metals markets, and runs a stock exchange for non-national companies.
AS A DEPOSITORY INSTITUTION…
There Two primary kinds of accounts, Currency and Metal -
Currency Savings and Currency Debit accounts are just like any savings or checking account anywhere, but which can be held in whichever type of currency you wish them to be held in, even if that particular type of currency is not what you deposit. You could, for instance, deposit various amounts of dollars, pounds, and euros along with some silver and gold – which would have to be minted by an approved mint, not just “scrap” gold or silver – and decide you want all of it converted to Chinese Yuan. There are no fees for conversion like this, as there are fees for converting one currency to another, but if your account is one kind of currency and you deposit another, there is a waiting period for the depoist to post, depending upon the amount deposited – no more than a few days, though. You can also change the type of currency your account is listed as, but there is a fee and again a waiting period before you can withdraw funds once you have changed, again with the time depending upon the amount in the account. These two categories also include the standard variations such as business checking or student saving, etc. Money deposited into these accounts is always kept on the books, and never used for lending or trading.
Metal accounts are investment accounts, and it is made to be understood during the opening of such an account that a certain % of the amount in the account could be used for OTSE’s other financial actions, such as loans or trading. It is also made to be understood that withdraws from these accounts of sufficient size have a waiting period to be fulfilled, typically something like a 10k a day withdrawl limit (this is so that the branches can keep transporting metals and currencies between themselves to keep each branch stocked with the necessary money and metal on hand). In a Metal account, you deposit currency and you in essence purchase varoius combinations of weights of Platinum, Gold, Silver, and Copper (four of the primary traded metals). Instead of being charge the spot price for the ouces Troy of whatever metal(s) you choose for your account, you are get the metals at direct market price, meaning you get more metal for your money. You can access your account online at any time and change the way your account is structured by transfering the value of your holdings from any metals to any others (ie, the amount your account was worth would stay the same in these trades, but the metal make-up of your accounts would change, letting you anticipate what metals you think will do the best and try to take advantage of it) You would have a certain amount of free trades like these per given period (1 a day, 5 a week, 15 a month, whatever). Any further trades beyond that would be charged. In addition to being able to trade between metals in your account to build value in it, you would also receive monthly interest on your holdings – more so than a savings account would, considering that you are giving OTSE permission to use your money for its own operations as well, instead of just holding it like a Currency account. The interest would appear in your account as a credit for you to spend towards more metals. Like deposits, withdrawls would be based upon market value rather than “under-spot” giving you more value for your money.
AS A LENDING INSTITUTION…
Pretty straightforward; think of any other kind of lending institution. The only difference is that OTSE would not loan to individuals, only to businesses. The reasoning for this is that an individual could basically steal the money of the loan and go someplace where OTSE had no right to go and get them or enforce the repayment of the debt. Since a loan is a private contract between two parties, there would be no reason to expect any seastead community to consider them as appropriate for imprisonment or seizure of holdings. Even if most did consider the contract as appropriate for such, the risk would be too great. A business, on the other hand, cannot run and hide, and would have tangible assets that could be converted to cover the cost of the loan in the case of default or fraud.
AS A CURRENCY EXCHANGE SERVICE
Again, pretty straightforward. OTSE would have a rating system for all accepted currencies, rating them Tier 1, 2, or 3 with 1 being stable (major world currencies, no debt/inflation troubles), 2 being moderately stable (major world currency with some debt/inflation issues, or a less widely accepted currency but with no issues), and 3 being unstable (extreme debt or hyperinflation or other destabilizing issues). As with any currency exchange there would be fees for converting currencies, but there would be graduated fees for Tiers 2 and 3. You could also exchange currencies for metals, metals for currencies, or metals for metals. The Metals would have to be, as always, appropriate weight rounds or bars from an approved mint. Metals of any kind always trade as Tier 1. Should you have a Tier 1 or 2 currency or metal and wish to avoid fees, you could also exchange them for a Note of Holding. Notes of Holding are bank notes created by OTSE in weight denominations from 1/10 Troy ounce to 100 Troy ounce of each of the four metals of OTSE (again, platinum, gold, silver, and copper). These notes are bearers notes (can be turned in by anyone) directly convertible to coins/bars of the specified weight of the specified metal minted by OTSE themselves. These coins have no monetary denomination on them, and cannot therefore be considered a currency, but it would be our hope that many businesses would accept Notes of Holding and/or the coins minted by OTSE as a medium of exchange for goods, as they represent a “gold” standard medium of exchange.
AS A TRADING/EXCHANGE COMPANY
These are also pretty straightforward ideas. Trading on the currency markets is nothing new. While none of the money in Currency accounts would be used for loans or trading, and only a % of the money in metals accounts would be used, any profits from the currency exchange service, from loan returns, and from the Stock Exchange could be used. OTSE would employ currency market traders and trade between the metal markets and currency markets for profit, something made easier by the large variety of currency holdings garnered from the currency exchange service. The Stock Exchange would operate just like the Dow, Nikon, NASDAQ, any of them, but would be only for companies whose headquarters were on a seastead, making them not of any nation, thus a non national company. The stock exchange would be open 24 hours a day to reflect the worldwide nature of seasteading.August 17, 2011 at 5:03 am #14686
There is global demand for honest markets denominated in gold. That alone could lend a great degree of self-sufficiency to that Seasted hosting the markets you have outlined.August 17, 2011 at 10:47 am #14687
A university might work i guess, if the community has a bank like you’ve suggested, it’s employees might work as teachers in economy/banking department as well time to time, same goes for tourism. Also advanced agricultural methods, aquaculture, photolovtaics, oceanography and many specialist fields in biology might be better suited for a seastead university since experience is crucial part of education even some engineering departments could be present. You can get a captains’ license in every country, but i guess a captains license from a seastead might be recognized widely if the education establishments on the seastead are well recognized and respected.
1st Model: Tourism, Banking, Data Storage, Marina Services, Education(Departments: Tourism, Economics, IT, Oceanography, International Relationships and perhaps Law…)
2nd Model: Aquaculture&Fish Processing, Basic Port Services( Fuel replenishment, basic repairs etc.), Hydrogen Production (via electrolysis&geothermal if possible), Education(Depts: Naval Engineering, Oceanography, Mechanical Engineering, Aquaculture&Seafood etc),
These two models are generally what i have in mind, they would probably have local shops for crews demand yet most of GDP would be from these activities(tourism, education, banking, fuel&food exports, naval services). Even a single one of those business could sustain the population if it is a well thought business each of them can be applied singularly on a seastead or all of them can be done together depending on size/design/location/route of the seastead Though since tourism and industrial activities don’t fit in together well we probably won’t be seeing them being applied on together. You can add offshore mining if available too.
Seasteading would probably start with tourism, and due to shared ideal customer portfolio of offshore banking and tourism, it wouldn’t be presumptious if we assume second would be banking, I assume 3rd would probably be IT and Universities then with time sustainability issue might come up which would encourage aquaculture and light industry(latter being limited to raw materials locally produced mostly).
What I would/can do in such a seastead, if the community has access to hi-speed internet connection i’d probably focus on ‘data storage, consumer electronics’ maintenance, if we are in indian ocean i could import foodstuff(espeacially red meat) using my already available connections to maximize profit or should i say minimize cost, I could set up a shop and sell galvanizing agents, some chemicals and metalware used in naval mainenance(which are produced by my family, http://www.stein.com.tr this isn’t an advertisement its only for reference, it’s in Turkish and we are only dealing with local and bordering markets anyway.), I could produce veggies with hydroponics/aquaponics (i do have some personal experience) for local and bordering markets if it proves to be feasible(feasibility of this depends more on location than engineering/design of seastead),
(Part below is somewhat off topic and kinda feels like an introduction, you might as well read it if you have nothing better to do or just pass it…)
My academics: Comp. Engineering, IT in Eastern Mediterranean Univerisitty/Cyprus(left them both after 2 years in each), Public Relations and Economics in Anaotlia University/Turkey(still a student of AU thus still not a graduate yet i have my transcipts from my former universities) so i’d probably follow on this path, yet i truly suck in public relations, and the worst trait of my career is probably that i haven’t workt under anyone yet, i’ve been working since i am 16 while still continuing my education. I started business printing/duplicating/selling pirate multimedia and books got caught and fined for it, then i did officially under my father’s business partner’s name for a short while then manufactured/sold salami and similar products for local market for a short while, smuggled a certain banned(in Turkey) variety of caviar from Cyprus, a certain banned(in Turkey) goat cheese from Italy and again got caught since customs office wasn’t contend with the amount of bribe anymore, wasn’t fined but most of my capital was lost with my confiscated products, started a cafe&cyber cafe which i am still running while selling products of my family and also started to import meat due to skyrocketing meat prices in Turkey. Started an experimental Hydroponics unit in my uncle’s farm last year where i also experiment with various plants/trees like Tomatoes, Strawberries, Black Currants, Cantharone Walnuts, Almonds, Olives, Figs and some types of mushrooms which aren’t being produced commercially. This is all about i can do/did for commercial purposes and most of them can’t be readily applied to seasteading and some of them are impossible. I have no sailing experience etc., have only been to HighSeas(since i live in Mediterranean) once and that was in a cruise(longest time i was on sea without landing is almost 4 weeks and that is in Aegean Sea on a yacht), so i don’t look at familysteads as a customer, it’s all about size for me where i can work and live somewhat similar to my present life(hopefully with a better political system than the one i have presently). Probably anyone reading this might see it as a criminal profile with get rich or die trying attitude i hope you wouldn’t get it that way i’ve been punished for every illegal act i’ve commited, from smuggling to letting my customer smoke in my cafe(i was fined 4k Dollars eq. of Turkish Liras for a stupid tobacco and there wasn’t any other customers at that moment) yet i haven’t committed any act that is labeled crime by law that requires jail as punishment.
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Written by Mad-Dog-Tannen