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It definitely is an ambitious project!

That's true, but the kind of people involved (imo) are the kind of people who could accomplish such a thing. I've been envisioning something of the sort (not necessarily on the ocean) for a long time. Doing it as 'an island' is a very symbolic and practical improvement. I'm not sure this project will succeed, but I think something like it will.
Imagine lightweight floating 'islands', above the clouds, covered in efficient solar panels, never having to touch down, supplied by drones, paid for with cryptocurrencies. No countries needed anymore, you're miles above them. Or park yourself over the middle of the ocean. There's so much room on the surface, but even MORE if we think 3 dimensionally. It's not a far off concept at all.

Absolutely agree and it is very symbolic. I'd like to see how the existing main players, like Asia, US, etc in the industry react to this. If it succeeds, then they may lose existing customers who might want to move their businesses to an island as well.