Liberland is a country that runs completely on cryptocurrency donation in the form of Bitcoin, Bitcoin Cash, and Ethereum.
Founded by Vit Jedlicka, an economist, and politician, Liberland has announced its plan to launch own token within months. This country has actually already received about half a million applications for citizenship. 5500 citizenship applications are from the UK.
The nation’s location is on a sandbank that stretches about 10 km south of the Hungarian border and 7 km to the Danube River that falls between Croatia and Serbia.
“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 moved to the river, where we host visitors almost on a daily basis,” said Vit Jedlicka, the Czech Republic former economist, now a politician and founder of Liberland.
Liberland state businesses are being conducted over Skype, WhatsApp, and email. This working platform actually enables about 100 of Liberland state representatives to stay in communication all over the world. The virtual nation is now ready to launch its legal system that will be based on blockchain technology. April 13, 2018, which will mark the third anniversary of Liberland’s creation, is the set date for Liberland to distribute its own coin Merit.
To receive Merit, citizens will have to pay taxes to the nation for which they will get Merit. In return, you are being granted a stake in Liberland.
About the taxes, Jedlicka explains: “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.”
The state budget will involve about a dozen cryptocurrencies. But, the financial operations of the nation will run on BTC, BCH, and ETH. Jedlicka is currently advertising its project by meeting up with people to extend the same in Central America and Africa.
It is important to note however that about 100 people have been arrested since Liberland came into existence in 2015. This definitely puts a damper on the situation.
The quest to know whether Liberland is a scam or not is an issue of concern for many.
4 years have not passed since it was announced that a Libertarian, virtual currency will be created. However, till now, there hasn’t been any considerable progress on this project, which definitely puts a question mark on this project. Moreover, with the land being a disputed one and Croatia and Serbia blockading the place, it seems like a really far-fetched dream to build something substantial there.