Inside the libertarian city on a Caribbean island backed by Silicon Valley
It might sound like something out of a Reddit thread — a Caribbean island where libertarians, biohackers and crypto bros are building an experimental city. In Honduras, it's real.
Alice Chen enters the Maker Space at Próspera, a libertarian enclave on the Honduran island of Roatán, after traveling from Canada to develop a revolutionary algae drink that could potentially add 20 years to one's life. The enclave, run by an American company and backed by Silicon Valley investors, allows businesses to choose their own regulations from a menu of over 30 countries or propose new ones.
Chen, who would have faced regulatory hurdles in Canada, sees Próspera as a place where she can bring her invention to life without constraints. In Próspera, businesses pay as little as 1% in taxes, and the experiment claims to have attracted 500 companies, creating thousands of jobs. The Honduran government established ZEDEs, or Zones for Employment and Economic Development, to address political instability and corruption, offering foreign investors a chance to set up operations in pockets of stability.
Próspera's visionary founder, Erick Brimen, believes the model can help lift people out of poverty worldwide, creating a poverty alleviation tool and economic accelerant.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
