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Saturday, November 18, 2023

Prospera: A bright future!

How many people have heard Prospera? I doubt there are many, if any. Looks like it may have a bright future, especially for those who are interested in the booming crypto sector.

Prospera is a private city and special economic zone located on the island of Roatán in Honduras. It is an autonomous zone with its own fiscal, regulatory, and legal architecture. The city is established under Honduran ZEDE laws, inspired by the concept of charter cities and cities such as Hong Kong, Singapore, and Dubai. Through low taxes, privatized government, social services, and self-regulation, the city aims to drive economic development and innovation that the city argues would not occur under normal government frameworks. Próspera has its own civil law and regulatory structure, independent of that of Honduras. The project is managed by Honduras Próspera Inc. and financed by several investors and venture capital firms, including Peter Thiel and Marc Andreessen, through the venture capital company Pronomos Capital. Social services such as health and education are planned to be privatized and financed from taxes, fees, and the sale of land to new residents and investors. Individuals may also apply for “e-residency”, which will allow them to register businesses in Próspera and benefit from the local tax and regulatory structure.

 

 

 

 

To be exact, Prospera isn’t just one place. It’s a platform that funds and spearheads the development of special economic zones.Smaller, more agile experimental cities readily acknowledge the advantages of decentralization in eliminating counterparty risk, automating business operations, and streamlining auditing processes.

In fact, here’s a picture of the Bitcoin Center in Prospera.

 

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