What Is Crypto Island (CISLA)

Crypto Island (CISLA) is a community-based project on blockchain that allows people to co-own an actual private island in the Bahamas. As community members of Crypto Island, users earn the right to help plan and vote on the eco-friendly development of Crypto Island. Participation is irrespective of the users' asset holdings. Thus, every member of the community co-owns the island. Crypto island aspires to be a bridge between communities and projects by offering various utility options and use-cases.

As per the whitepaper, co-ownership in combination with cryptocurrency has been deemed impossible. Crypto Island intends to address the issue of making it legally viable to co-own something as large as an island. Crypto Island establishes a legal framework in which users are able to whitelist their wallets and become nonvoting beneficiaries of the trust fund that owns the island. Thus, Crypto Island hopes to get as close as possible to decentralization.

Co-owning means users have the ability to visit Crypto Island through a time-sharing mechanism. (A time-sharing mechanism is sharing a computing resource among many users at the same time.) Users also have an active role in the decision-making of the future direction of Crypto Island. Users also get non-fractional ownership. (Fractional ownership is a kind of collaborative consumption where a property's total cost is divided among a group of owners or users.)

CISLA token powers Crypto Island. CISLA is on the Binance Smart Chain (BSC), an independent blockchain compatible with the Ethereum Virtual Machine (EVM). The decision was based on the low cost and high latency of the Binance Chain. The CISLA token is developed via a smart contract, audited and approved by a blockchain security and quality control firm, CertiK. CISLA is also present on the Ethereum network. The wallets used for the development and maintenance of Crypto Island are public. The CISLA token is the only form of currency used on the island. Being the only currency also drives demand for the token, thus providing holders with an economic incentive to help make Crypto Island a convenient place for all.

History of Crypto Island (CISLA)

Dan Bouwer is the founder of Crypto Island, and he founded the platform in 2021. Dan is an entrepreneur with an experience of over ten years. Version 3 of the whitepaper launched on January 14, 2022.