That is indeed one of the ideas has been promoted by the Seasteading Institute. The spinoff company now pushing that plan is called Blueseed; they expect to have a ship in 2013-2014, but the ship they use will probably be bigger and more residential-ish than this one. Here's their site:
(That comment wasn't flagged: that entire user account seems to be hellbanned as of over a week ago, so every post that the user makes is automatically deleted; flagging a comment does not simply cause it to be immediately deleted.)
EDIT: Whoever flagged the question of the comment below went a bit too far. What in the world is wrong with someone asking, "How would that work, exactly?" (Aside from the imagined tone of voice, which can be interpreted in both a positive and negative light.)
There was an idea that people would work in international waters, but within close reach of meetings ashore. (Which they could attend on tourist visas.)