Lately, I've been writing about this platform called Bitnation. Bitnation is a decentralized borderless Virtual Nation (DBVN) platform. Bitnation's vision is "The Internet of Sovereignty". It aims to achieve this with its revolutionary Jurisdiction infrastructure called Pangea.
Think of Pangea as a virtual world where people can sign up to be citizens and create or join nations that they like. These nations will be made up of people with similar goals and ideals who voluntarily came together to live as one in a virtual world.
Pangea offers peer to peer smart contracts, a quantum level encryption and is built on a framework called Panthalassa. Pangea is accessible via its mobile app. As users (citizens) participate by completing tasks or acting as arbitrators, they are rewarded by the system. The Pangea Oracle algorithm and the data extrapolating bot Lucy decide how much reputation points a citizen earns per task. The entire ecosystem is blockchain agnostic, but currently runs on the Ethereum blockchain.
Panthalassa functions as a mesh network and is designed to be delay tolerant. This means each node can hold a copy of a file until it has sufficient network to broadcast it to the network. The "mesh network" means nodes can leverage the internet connection of other nodes on the network allowing nodes to function with poor connectivity or no internet at all.
Now each state or nation on Pangea must be governed by rules and regulations (Constitution if you will). Rather than pushing penalties on defaulters, on Pangea dispute resolution and working in accordance with the constitution is rewarded.
Rewards are provided in the form of reputation, scores or ratings which Citizens, Arbitrators, Governance Services Providers, Nations, Smart Contracts and Codes of Law accumulate and which can be searched by others on the platform.
whitepaper
Pangea achieves this by using feedback mechanisms to rate every component in the system
· Every smart contract has a rating. This functions as a standard of sorts for quality control.
· Every entity on Pangea (including humans, AI and code) has a reputation score.
· Every citizen will have followable lists.
Much like how people follow each other on social media, or follow someone who inspires them or posts quality content, Citizens will be able to follow and rate each other. They can do the same for Arbitrators, Nations or Holons and Smart Contracts as well and each will be rewarded with non-tradeable tokens based on performance. When enough reputation is acquired, an entity will be rewarded with tradable Pangea Arbitration Tokens (PAT).
A good example of a reward system would be the Steemit platform where users get rewarded for quality content via upvotes.
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The Pangea custom token PAT is released by the Bitnation DBVN. AN autonomous and ever-evolving agent Lucy oversees this distribution. Lucy is a bot written with a complex smart contract that has a "learning" ability and over time Lucy will evolve into the Pangea Exocortex containing all Pangea's external memory. A computational oracle ensures that the PAT distribution is decentralized and secure.
In accordance with the freedom of choice ethic on the Pangea, citizens are not limited to spending only PAT but can choose which currencies they prefer to receive and pay for services. Right now privacy-centric currencies are being supported in the Pangea wallet. These include DASH, Monero and Zcash.
As explained earlier, when citizens complete tasks they receive non-tradable tokens called Proof-of-Agreement tokens(POA). These non-tradable tokens are pretty much IOUS that accumulate and get internally cashed in/swapped automatically for PAT when they reach a certain threshold.
POAs are non-tradable to prevent user reputations being bought or sold. This means citizens must actually put in the effort to do well or be useful in the society in order to gain reputation. The system rewards successful contract creation, dispute resolution, and contract execution. It doesn't reward monetary holdings or popularity.
Every citizen on Pangea has a unique and searchable identifier, which can also be referred to as a public key. Every smart contract created on the platform will also have a contract ID. These identifiers will be stored in the Bitnation external contract registry on IPFS.
For every action a citizen takes on Pangea, the citizen automatically signs the action with his/her unique signature/identifier. This enables the internal mechanisms such as Lucy and the Oracle to allocate reputation points and also gives transparency to the system.
According to the Bitnation whitepaper, in the near future citizens will be able to choose to add external verification methods such as social media verification, uploaded utility bills, or government-issued identification documents. Bitnation is also looking to integrate identification systems like Civic or Uport.
Bitnation is really making huge strides in decentralizing the world. By focusing at the top of societal hierarchy (governance) Bitnation is effectively stimulating a world of community-consensus governance which will cater more to the needs of the citizens than any model of governance in play today.
In the next article, we will look at the Pangea Arbitration Token (PAT) and its many uses on the Pangea platform.
If you would like to be a part of this wonderful project or need more information about them feel free to drop a comment and I'll do my best to answer your questions. You can also check them out yourself by following any of the links below.
Bitnation Website - https://tse.bitnation.co/
BitNation Blog https://blog.bitnation.co/
Bitnation Constitution - https://github.com/Bit-Nation/BITNATION-Constitution
Bitnation Social Media
Bitnation Github | Bitnation Twitter | Bitnation Angel
Bitnation Telegram | Bitnation Facebook | Bitnation Steemit
DISCLAIMER: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. You can lose all of your money by not investing wisely. The above information is for educational and awareness purposes only. Kindly Endeavor to DO YOUR OWN RESEARCH.