The origins of Satoshi Island remain a mystery.
Denys Troyak — a Sydney cafe owner-turned-crypto-entrepreneur — is secretive about the "mentor" who gave him the idea.
The proposal was ambitious: to turn a remote, overgrown Pacific island into a private city, built entirely on cryptocurrency.
People buying real estate on the island wouldn't get traditional land deeds. Instead that would receive digital non-fungible tokens (NFTs), which have more famously been used to certify artwork.
"One day I got contacted, and [was asked]: 'Hey, would you be interested in running operations? We've got this great idea'," Mr Troyak said.
Mr Troyak was hooked. Without visiting Vanuatu where the project would be based, he agreed, becoming the project's logistical director and spokesperson.
Earlier this year, Mr Troyak shut his busy Surrey Hills cafe and moved to the Pacific country of Vanuatu to live and work full-time on Satoshi Island.
The project is named after Satoshi Nakamoto, the pseudonym used...
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