With all the advances that we made in the field of technology, it seems that we are lagging behind in governance systems. As the world population keeps booming traditional national governments fail to deal with this pressing matter. Their answer seems to be just more controlling protocols that impede the fundamental rights a state should make a guarantee to each of its citizens. Also, having a central point of government power has also proved to be disastrous through actions that were ultimately against the citizen.
The blockchain technology is not just a system for disrupting the money system; its trustless network can be brought to almost any domain of our socioeconomic spectrum and governance would be a perfect candidate for a long overdue upgrade!
Bit Nation is your Nation!
Through a trustless decentralized system, the team over at Bit Nation proposes the next iteration in the way we organize ourselves by challenging the notion of State or Nation. As a fully holacratic organization, Bit Nation strives to become a fully fledged Decentralized Autonomous Organization or in short a DAO. Whereas traditional governance systems are organized in a top-down hierarchy, a DAO is a fully decentralized organization that runs itself by distributing the responsibility throughout the network. With such a low barrier to entry, anyone can join to create a for-profit or nonprofit endeavor and benefit from the full support of the technological edge that Bit Nation provides.
Users of the network will be able to band together and create Decentralized Borderless Voluntary Nation or a DBVN from the comfort of their phone by installing Bit Nations’ interface application Pangea. If traditionally speaking you are assigned to a state or nation and changing that status is currently a bureaucratic nightmare for all involved parties. DBVNs, however, will encourage an opt-in adherence culture where Nations will compete for citizens with enticing amenities and services. The Bit Nation ecosystem supports the following governances and jurisdiction processes but not limited to:
- Blockchain Marriage
- Birth Certificates
- Refugee Emergency ID
- Security Contracts
- Heir Contracts
Pangea Arbitration Token (PAT)
Based on the popular ERC20 architecture the PAT token will be the monetary incentive of the ecosystem. Professional users will be able to leverage their arbitration skills to solve all kinds of smart contracts on the network. Doing this kind of work on the Bit Nation network will be rewarded with tokens that cannot be directly bought to avoid gamification mechanisms.
LUCY, a state of the art AI system will assign rating tokens to the arbitration professionals with the help of cryptographic algorithms that in their turn can be converted into PAT tokens as the final rewarding system.
In the ICO phase, 34% of the tokens will start to be sold on March 25th, the remaining tokens after the initial sale will be slowly released into a 24 months sale period. 18% is reserved for the founders and core contributors, 14% is reserved for future endeavors and the ecosystem users will earn the rest of the 34%.
Head over to https://bitnation.co to learn more about this revolution!
Yours,
Jack Andrew