@fuzzy talked about this in the Beyond Bitcoin Hangout, and I like to know more. On this island everyone would be buying and selling using Blockpay. Land contracts will be done with BitLand. Elections done with FollowMyVote. You will be watching SollywoodTV and listing to Muse radio . PeerPlays would run the island's cosino. If Solarcoin/ElectriCChain joins the Graphene family, then their the power plant. We need a full more players to fill in this blockchain island.
Well what is possible really comes down to how much support I get in steemit as much of what is earned from my work on the hangouts will be directed toward things like this.
With that said, however, bitshares island will be a minecraft style island where people can build and play. What else is able to be added on depends on what is always depended on---support. I am planning to begin reaching out to other communities to help get them both coverage and traded on the BitShares DEX, so this is my top priority, but if the community believes in bitshares island and wishes to support our efforts (and potentially see many other functionalies added) I advise they spread both our Hangout RSVP threads and Hangout Threads from steemit across other social platforms (aka forums, reddit, fb, twitter, steem...etc).