Blockchain is booming. Labelled as the biggest innovation since the internet, it has become a hot topic among technology experts and has gained more and more awareness among the general public. While the vast majority focuses on the application of Blockchain technology in the financial sector (FinTech) or the Internet of Things, there is also another application of Blockchain worth mentioning: Bitnation. Founded by entrepreneur Susan Tempelhof, Bitnation uses Blockchain technology to develop a collaborative platform named Pangea where decentralized governance services can be offered. Bitnation has the ambition to become the first digital nation and “create a nation where state governments become irrelevant”. It sounds a little bit woolly, right? Allow me to explain the concept in more detail.
The initiative aims to change the way society interacts with the system of governance: It gives an individual anywhere in the world the ability to generate their own unique governance system that provides governance services in their own desired way. It gives society the opportunity to create numerous alternative governance systems that competes with each other by trying to offer the best service to attract customers. These decentralized governance systems differentiate themselves not by means of their racial identity, geographical location or their ability to exercise power, but their competence to provide the best service to their users. The choice of customers are not restricted by their nationality; everyone has the freedom to choose the option that best meets their personal preferences.
Bitnation is already offering various governance services such as legal services, insurance, and social services. Some examples of Bitnation’s achievements include the first marriage registered on the Blockchain, the first Blockchain birth certificate and Blockchain passports. Furthermore, they are partnering with the Estonian government to develop a public notary service based on Blockchain technology. Finally, Bitnation is currently developing a trial version of the Pangea platform to meet the requirements of the mass market. I am sure that we are going to hear a lot more of this disruptive innovation!
Sources:
https://bitnation.co/
https://cointelegraph.com/news/5-fintech-companies-to-shape-the-future-of-money
https://www.youtube.com/watch?v=eYrsGpO2uCw
https://bitcoinmagazine.com/articles/bitnation-launches-world-s-first-blockchain-based-virtual-nation-constitution-1455895473
