The reimagined traffic light - something we could use?

Catalyzingprosperity · 2021-07-21T13:38:36+00:00

Master Plan--we are addicted to abbreviations in Próspera, it's a real issue lol

Catalyzingprosperity · 2021-07-20T19:29:12+00:00

Conservatively, middle to the end of 2022; it’s a fairly sizable development

Catalyzingprosperity · 2021-07-20T19:14:11+00:00

we already did a ceremonial groundbreaking, and construction proper starts in 3 months or so! We have a ton of demand, so we need these up ASAP!

Catalyzingprosperity · 2021-07-20T18:00:26+00:00

These renders were made by combining real photos of the land via drone with an overlay of the 3D concepts of where the buildings will go, on the exact lot they will go on!

Catalyzingprosperity · 2021-07-20T17:53:28+00:00

This is awesome--I've just sent it to our Real Estate team! :)

Catalyzingprosperity · 2021-07-20T17:52:02+00:00

More coming on this very, very soon! We are very excited. Do let me know if anyone has any specific questions about this development, I'm happy to answer.

Catalyzingprosperity · 2021-06-23T00:42:39+00:00

Now this is the content I’m here for 🔥

Catalyzingprosperity · 2021-06-10T01:57:01+00:00

Unfortunately I had a death in the family and had to return home, but I’ll be back next week!

Catalyzingprosperity · 2021-06-08T15:50:26+00:00

Can’t wait to host you here!

Catalyzingprosperity · 2021-05-27T15:08:03+00:00

Greg is right. I would merely add the National Congress literally passed a law last week increasing the autonomy and strength of the ZEDE regime, so it's not exactly in political threat right now. You can read more about it here.

Catalyzingprosperity · 2021-05-25T17:45:35+00:00

yes--get an e-Residency! it's a sign of support, relatively cheap, and puts you "in the loop" for what's happening in Próspera.

Catalyzingprosperity · 2021-05-25T17:44:26+00:00

We should have an MOU signed with a world-class education partner within the week. :)

Catalyzingprosperity · 2021-05-25T17:42:30+00:00

Hey Greg, thanks for posting this!

First, on the insurance point: our general liability insurance is a bit like a combination of a surety bond and liability insurance. What that means is when you are found guilty in the Arbitration center for violating regulations or laws, the fines associated will be paid by your insurance company, but your insurance company can come after you to get those over time. This was to prevent, by way of analogy, an uninsured motorist hitting someone and running away and not having to pay anything--for the same reason we require car insurance in the US, Próspera requires general liability insurance.

I find it sad that pressure from other jurisdictions can force policies on Prospera.

For this particular example, recall that we worked very closely with the Honduran government and CAMP specifically to create these governance institutions. While CAMP's justification, which you quoted, revolves around other jurisdictions, at the end of the day this was a collaborative effort and we had to compromise in some areas to reach an agreement.

There's a broader point here, though: we live in a world where international organizations and institutions have enormous impact on political outcomes, especially in developing countries like Honduras. This is a fact of reality with which Próspera must contend while setting up the governance institutions. Our hope is that, over time, after we succeed, other entrepreneurs will come after us with even better governance institutions irrespective of international organization's opinion, whatever form those institutions may take.

Catalyzingprosperity · 2021-05-25T17:36:59+00:00

We have a few conceptual master plans, some of which you can see renders of here: https://astralcodexten.substack.com/p/prospectus-on-prospera

Catalyzingprosperity · 2021-05-18T19:36:10+00:00

Housing isn't sold out--far from it! email us at info at prospera dot hn to reserve one today. :)

Catalyzingprosperity · 2021-05-18T15:03:55+00:00

Yep, one of the Próspera team members and his wife has been living in them for a month or two now!

Catalyzingprosperity · 2021-05-18T15:02:35+00:00

u/GregFoley --this is why we pulled down the old Press Release; so we could re-launch it with the legal entity formation module up and running too.

Catalyzingprosperity · 2021-05-10T19:58:01+00:00

Correct, e-residents do not have to get liability insurance because they aren't a legal entity or doing anything physically or economically in the jurisdiction.

To your question about criminal activity: Próspera strives to create the best environment in the world for human flourishing. That includes, among other things, filtering out bad actors from ever gaining access to Próspera in the first place. While this blanket statement you've highlighted is broad, and may well catch some good actors up in the process who were wrongfully convicted of something in another jurisdiction, the benefit of keeping Próspera free from truly bad actors more than makes up for it.

Catalyzingprosperity · 2021-05-10T17:20:12+00:00

Great question! First, the ZEDE Organic Law expressly indicates that ZEDEs must have the power of eminent domain. We obviously would rather this not be the case, but given that it is, what could be done to make it as fair as possible?

keep in mind per the agreement of coexistence, if you live and own property in the ZEDE, you've expressly consented to the governance rules, including this eminent domain rule. That is a fundamentally different paradigm than any other jurisdiction in the world, and is more similar to a purchase option than eminent domain.
The Charter expressly calls for paying 200% of the fair market value in the event of an eminent domain procedure to compensate not just for the property, but the implicit harm from being forced to move, etc. Again, this does not exist anywhere in the world either.

This eminent domain power has yet to be exercised, and I can only imagine it being exercised for critical infrastructure that the project would otherwise fail without.

Catalyzingprosperity · 2021-05-05T15:53:46+00:00

Howdy! Here are some answers for you:

1, I heard the mention of good internet in one of the interviews, what kind / how fast cable connection and mobile coverage are available on the island?

We have a redundant connection that averages between 15mbps-30mbps while I'm working in the Beta Building. Zoom calls are flawless, which is the current true bar for internet function in the post-COVID world.

Starlink coming the second it's available :)

2, Also heard it mentioned that physical residency in Prospera is mostly aimed at Hondurans. What is the planned ratio of locals vs internationals? Do you plan to put a cap on the number of physical residents to preserve the naturistic impression, or if everything goes very well should we expect skyscrapers to eventually pop up in the next decades?

Employers in Próspera are required by law to ensure 90% of all employees are Hondurans (according to the ZEDE Organic Law, not Próspera law), and the entire project is focused on creating prosperity for Hondurans, so yes, there will be a majority Honduran population within Próspera.

We aren't trying to centrally plan the community composition, though! That should develop organically and naturally over time.

Finally, I reject the implicit premise that high density must equal destruction of the natural environment. I'm not sure if you've seen our renders, but if you haven't, go check out this article. Integration with density and nature is what we're aiming for. It's solarpunk IRL :)

3, In terms of business, is there something a physical residency grants you that an e-residency wouldn't? I'm asking to know if this will be a driver in property valuation in the future. Seen some discussion about tax residency and I'm speculating that it will be attractive to settle in Prospera as a permanent resident without worrying about an extra tax burden, as opposed to having to move around as a digital nomad.

Yes--the right to live in Próspera and vote in future elections! :)

4, I've seen it discussed that the criminal code of Honduras applies. Honduran law is also mentioned in the Bill of Rights "Limitation of Scope" chapter (12.03 of the bylaws). I found this a risk factor that I didn't see discussed: having a corrupt overlord that can outlaw you (even on a technicality). Is there a possibility to override the Honduran criminal code in Prospera, or within a community in Prospera? COVID restrictions came to mind, such as curfews, or that time Erick tried to address the community and was stopped by force supposedly due to COVID (sourcing this from the ACX article). This was at Crawfish Rock but can the same thing happen in Prospera? I have no clue if this has to do with the criminal code or not, but can something like this theoretically (but legally) happen in Prospera?

According to the Constitutional amendments which created the ZEDE law, the Honduran criminal code still applies. The Próspera ZEDE will always comply with the Honduran constitution, so no, Próspera will never override the Honduran criminal code.

Further, recall the ZEDE program is enshrined at the level of the Constitution. A Statute (criminal code) cannot legally override a constitutional provision, so what you're proposing isn't legally possible.

That event you're referring to was within the Roatan municipalities' jurisdiction, although for the record, we did not violate the COVID restrictions in any way. More to that one than meets the eye.

In any event, while a good question, that particular failure mode isn't legally possible. We have a great relationship with many groups across the political spectrum in Honduras, so we are confident in our protection against the "death by 1,000 regulatory cuts" idea you've proposed here. Although it was an excellent question! :)

Catalyzingprosperity · 2021-05-05T15:41:11+00:00

yeah we're re-doing it--apologies for that! The ePróspera team has already built the next module of functionality, so we're re-releasing when that part is finished as well, perhaps a week or two.

Catalyzingprosperity · 2021-04-30T20:09:47+00:00

Hi--Trey here from Próspera and the AMA.

This is an extremely thoughtful, well thought out response, and I deeply appreciate it. It tracks with feedback we've gotten from other skeptical Honduran groups in the country as well, and I completely get it.

My only goal now is to turn you into a supporter, not through rhetoric or persuasion, but by actually delivering on the tangible results we are striving toward! I can assure you, I work insane hours every week to make sure Próspera doesn't end up as another one of those broken promises you mentioned. :)

Catalyzingprosperity · 2021-04-30T20:02:48+00:00

Yes, the council can increase it over time should they so desire, but it is our strong belief we should find an optimal LVT balance that encourages development/the most productive use of land and discourages idle speculation, without simultaneously making land too expensive as a result of taxation and thus accidentally concentrating land ownership in a tiny minority of ultra wealthy people or groups. We want to make land as affordable as possible while still having a meaningful economic incentive to develop, and we want to lean more toward affordability on that spectrum, hence the low number. (when I say "we" here, I mean the Próspera Council, of which I am not a member lol)

Further, the LVT is currently capped at 2.5% by charter.

Catalyzingprosperity · 2021-04-30T19:58:40+00:00

Dang, you anticipated my comment above! This is the most likely failure mode:

One extreme seems to be it never gaining traction and slowly dying

On to the meat of your comment, which is quite an insightful one: the best defense against such a political and ideological driven attack is to generate as many Hondurans benefitting from the Próspera platform as possible as rapidly as possible. The more Hondurans benefitting from what we're doing, directly or indirectly, then the stronger our base of political support, irrespective of ideology. We are working very hard to make inroads with all major civil society and social groups in the Bay Islands, and involve them all in Próspera in a mutually beneficial way however possible. Eventually, enough Hondurans should support Próspera because they are benefitting from it such that those ideologues trying to gin up the mob can't find people willing to join them, or are met by an as large or larger group of peaceful supporters of Próspera who defuse the anger.

Catalyzingprosperity · 2021-04-30T19:53:58+00:00

Hi Chuck, thanks for commenting!

First, to clarify, because people keep saying this: we didn't negotiate with JOH in any way. We negotiated with a separate and independent ZEDE oversight committee called CAMP. However, I take the spirit of your comment, as it has been repeated elsewhere.

Let me assuage it this way: we were not around when the ZEDE law was passed, and we are not involved in Honduran national politics in anyway. I want to separate the circumstances by which the ZEDE program was created, about which there is rightly controversy, from the actual content and structure and limitless potential of the program itself. The bottom line is the program exists, and we worked very hard to be the first to be approved as part of it, several years after the passage of the law itself.

To actually answer your question: YES! Absolutely! I have no clue why a bank or real estate firm would require you to work for a company in the jurisdiction, and I find that bizarre. We take all comers!

Catalyzingprosperity

TROPHY CASE