Cryptocurrency funded Dunk Island restoration plans announced

Australian owned Property Bay Pty Ltd has signed purchase contracts to create a world class eco-resort and tourist destination on Dunk Island on Australia’s Great Barrier Reef.

The asset backed unit token project will start with an initial US$110 million capital raise, which will in-part be funded by crypto currency, with construction commencing in the first quarter of 2019 on a glamping site, 5-star hotel, swimming pools and other amenities.

The IM (Information Memorandum) is available by application.

Named by Captain Cook in 1770 after the First Lord of the Admiralty and First Earl of Sandwich George Montagu Dunk.

The Island is a pristine tropical Great Barrier Reef island situated 4km off the coast of tropical north Queensland near Mission Beach and is known as “The Island of Peace and Plenty”.

It’s also famous for its restorative qualities due to former journalist and Senior Editor of the Townsville Bulletin Edmund James Banfield moving there in 1897 after being told he had 6 months to live. Banfield lived and wrote there, extending his life by 26 years before eventually dying in 1926.

“Dunk Island, and surrounding palm-fringed Mission Beach is an incredibly idyllic area, where rainforest meets reef – with this project we intend to bring significant tourism, and in turn jobs, to the local community.” says Tim Sommers spokesman and Co-Founder of Property Bay. “ 

The Dunk Island project will be a global first with technology and eco-tourism the primary drivers.

The aim is a zero-carbon footprint with Blockchain, Artificial Intelligence, self-driving buggies and related tech underpinning the environment, Sommers said.

"The Island economy will be entirely driven through a utility token model that not only will be exchanged for goods and services, but will also reward customers for their energy footprint."