Hello, and welcome to what may be the mode of transport of the future.
The possible mode of transport of the future is the amphibious, single wheeled, pedal powdered, submarine. 
And below is a 3d model of it made in 123d design desktop, available to download here- http://www.123dapp.com/design .
Now if you want to know how i made read on ( and i recommend this) but if you just want the 3d model here it is - http://projects.123dapp.com/smb-123D_Design/monowheel-submarine/1783645 .
And don't forget to vote for the monowheel submarine in the 123d design contest if you think it should win.

Step 1: Starting Off

Firstly if you have not all ready download the 123d design software or use the online app.
Next draw a circle of any size, then draw another circle a little smaller than the first in the middle of it.
Now use the pull tool and pull the gap between the two circles outwards.
Then use the draw tool to draw 8 fins and pull them to the same height as rest of the model. 
After that draw a square a little bit smaller than the inner circle in the center of the circle, this will be were the driver sits.
Next find the center of the square and draw a circle from the center of the square to the corner.
Finally pull the 4 outer parts of the circle you just made to the same height as the rest of the model. 

Any force applied by a paddle would have an equal and opposing force applied by its opposite paddle with the result that all forces would be cancelled out. Or am I missing something?
Yes , i think it unfortunately would. <br>What if I was to replace the 8 paddles with 3 paddle so that they wouldn't an opposite one. Or just remove all the paddle and replace them with one big curved paddle. <br>Or finally remove some weight or add floats so that the top paddle are out of the water and in the air and will receive less resistance. <br>Thanks for pointing it out, as feedback helps improve every thing.
If the paddle wheel is more than 50% under water, then when each paddle has finished its power stroke, (Horizontal), it begins to lift water. This is going to create a lot of drag, (water is heavy stuff). Ideally, the paddle wheel should be sitting half in and half out of the water. That way you harness the full power of each paddle stroke.
Thanks for the suggestion.

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