Liberland, a tiny country located in Europe, is ready to launch its own cryptocurrency. The information was released by Vit Jedlička, the Liberland founder. The supporters of the country can donate Ether (ETH), Bitcoin Cash (BCH), and Bitcoin (BTC) and apply for citizenship.
What is Liberland?
Liberland is a micronation that claims a small piece of uninhabited land located on the western bank of the Danube between Croatia and Serbia. According to the official website of Liberland, the place has been chosen due to the fact that neither Croatia nor Serbia claims this piece of territory. Furthermore, there is no other country that claims this 7 km2 of land.
In international law, terra nullius describes a territory that has no owner and a state can acquire it through occupation. That’s why Vít Jedlička seized the opportunity and on April 13th, 2015 he formed a new state in this territory. After the Vatican and Monaco, it is the third smallest sovereign state on earth.
The motto of Liberland is “To live and let live” because the nation has personal and economic freedom as the main values. The constitution defends individual freedoms and limits the power of politicians and politics in order to avoid their interference.
During an interview with the Telegraph, Jedlička commented:
“The situation on the mainland in Liberland is still difficult as Croatian police illegally persecute all visitors and settlers. We are waiting for exoneration from the Croatian constitutional court but for now, our settlement has essentially move to the river, where we host visitors almost on a daily basis.”
Liberland has been hard working to introduce cryptocurrencies into its economy. For example, Roger Ver, the polemical figure in the cryptocurrency world, has been working with Liberland’s government and officials so as to promote the use of Bitcoin in Liberland’s chamber of commerce.
Liberland’s New Cryptocurrency
Apparently, Liberland wants to launch its own cryptocurrency as other countries like Venezuela or Russia are planning. Initial Coin Offerings (ICOs) is a new way of fundraising that has reached almost $4 billion dollars during 2017 and may reach new records in 2018. ICOs have been used by enterprises, industries, and start-ups in order to gather funds and promote their projects.
Investors that want to support Liberland’s ideas and the project may buy the new token that is being created by Liberland’s team. The token will be known as Merit and will be launched on April the 13th, exactly when Liberland will have its third anniversary.
Another important development being carried by this liberal nation is a legal system totally based on blockchain technology. Blockchain technology has several advantages over the previous system used to register important information. Blockchain allows data to be safely stored without being corrupted or stolen. That’s an important milestone for the country that is trying to settle its institutions and start functioning.
Liberland is working mainly over email, WhatsApp, Skype and many other social networks. The representatives of the country are using these technologies as a means of communication. Soon they will also be able to exchange the new Merit token. Merit will be given to the donors and these individuals who want to pay taxes to sustain the development of the project.
“For many years, I worked for lowering taxes and regulations in the Czech Republic, but I suddenly realized that it would be easier to start a new country than to fix an existing one,” commented Jedlička. “We suffered 40 years of serious damage to our society under a communist regime and, unfortunately, many of the same people are in power again.”
Liberland has received support from several important individuals all over the world, including American Politician Ron Paul. Little by little, this country is settling the basis for what can be an incredible and bright future, and virtual currencies and blockchain technology are helping Liberland in this adventure.