Liberland, a self-announced country which is still on the verge of attaining Independence, intends to launch its own virtual currency in about a few month’s time. It is now receiving donations in Bitcoin, Bitcoin Cash and Ethereum.
In the beginning, Liberland planned on setting Bitcoin as it’s currency and settle for no compulsion on taxes. About half a million people have applied to claim citizenship of Liberland. However, the dispute of the extent of it’s border still remains.
History of Liberland :
During 2015,for some distinct reasons Siberia and Croatia made an announcement that they did not want the uninhabited marshland next to the Danube River that extends for 7 kilometers between Croatia and Serbia. A former economist, named Vit Jedlicka seeked for a chance to own the land and hence, planted a flag there as a mark of forming a new country.
Since then about half a million people has signed his online petition and the legal hearing about the matter is awaited by all.
Who are the donators?
Rich libertarians and crowdfunding are the sources of Jedlicka’s funds and businesses for the country are made through email and Skype. A large number of lawmakers from all around the globe, proposes and formulates it’s laws.
How will the blockchain work?
The blockchain based legal system will enable citizenship through online contracts. They are also working towards regulating their own coin called, Merit, during April.
According to Jedlicka, it is easier to start a new country than apply for lower costs and regulations to the Czech Republic. His work as a financial market analyst has given him a better understanding for setting the system of Liberland. He has traveled for three years to gather members for representing his country and is still on the search for new citizens.
Roger Ver, a bitcoin investor, is overtly interested in Liberland. Patrik Schumacher, CEO of Zaha Hadid Architects is making the skeletal system of the city. Jeffrey Tucker, an American economics writer and bitcoin enthusiast, Dan Mitchell, a Cato Institute member, and Richard Sulik, a Slovakian politician, have all supported Jedlicka’s dream of setting Liberland.