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Puertopia: Building a crypto utopia in Puerto Rico where money is virtual

Blockchain, a digital ledger that forms the basis of virtual currencies, has the potential to reinvent society - and the Puertopians want to prove it

Nellie Bowles | NYT  |  San Juan, Puerto Rico 

They call what they are building Puertopia. But then someone told them, apparently in all seriousness, that it translates to “eternal boy playground” in Latin. So they are changing the name: They will call it Sol. Dozens of entrepreneurs, made newly wealthy by blockchain and cryptocurrencies, are heading en masse to Puerto Rico this winter. They are selling their homes and cars in California and establishing residency on the Caribbean island in hopes of avoiding what they see as onerous state and federal taxes on their growing fortunes, some of which now reach into the billions ...

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First Published: Sun, February 04 2018. 00:38 IST
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