Srinivasan Builds Crypto Techno-Utopia Network School in Malaysia’s Forest City
By Ryan Weeks, Bloomberg – August 28, 2025
In an ambitious fusion of technology, cryptocurrency, and innovative governance, Balaji Srinivasan, former Coinbase executive and author of The Network State, has launched a groundbreaking project in Malaysia’s Forest City. Once envisioned as a sprawling megaproject designed to accommodate a massive population, this ambitious urban development now serves as the experimental ground for Srinivasan’s radical vision of building new sovereign states from the ground up.
A Radical Experiment in Nation-Building
Forest City, a reclaimed island in Malaysia, has struggled to live up to expectations since its inception. Initially set to house a population 50 times larger than its current count, the project has faced economic and developmental challenges. Yet, this very underutilized space has attracted a community of crypto and technology entrepreneurs eager to explore new societal models.
At the core of this endeavor is Network School, an innovative campus set up inside a converted hotel. Here, technologists, entrepreneurs, and visionaries converge to collaborate, learn, and develop software solutions inspired by Srinivasan’s concept of “startup societies.” These new societies are envisioned as decentralized communities defined less by traditional geography and more by shared values centered around technology adoption, cryptocurrency use, and minimal regulatory constraints.
The Vision of a Network State
Srinivasan’s idea of a network state advocates the formation of digital-first communities that operate with a high degree of autonomy and harness blockchain technologies to facilitate governance, commerce, and social contracts. This vision challenges the century-old notions of nationhood, replacing physical borders with interconnected ideological and technological frameworks.
At Forest City, attendees of Network School engage in rigorous learning programs while enjoying high-quality amenities — including Australian prime ribeye dinners and gym facilities — underscoring a blend of innovation and lifestyle. The project aims to serve as a live laboratory where the principles of digital sovereignty and crypto-enabled governance are put into practical use.
A Testbed for the Future
By selecting a struggling megaproject like Forest City, Srinivasan and his team are leveraging an environment ripe for reinvention. As the initiative gains traction, it poses intriguing questions about the future of urban development and governance, the role of cryptocurrency in societal structures, and the potential rise of new forms of statehood less dependent on historical or territorial claims.
While the success of this techno-utopian experiment remains to be seen, Network School’s presence in Malaysia highlights a growing trend among innovators to rethink foundational political and social constructs through the lens of technology and decentralized networks.
As global interest in cryptocurrency and alternative governance models intensifies, insights from initiatives such as Network School could significantly influence how future societies are organized and governed.
About the Author: Ryan Weeks is a technology and business reporter for Bloomberg, specializing in emerging tech trends and their societal impacts.
Contact: For news tips or feedback, reach out to Bloomberg’s editorial team.
This article was first published on August 28, 2025, and updated on August 29, 2025.