Is Bitnation the Future of Economy?

The internet has now become an essential part of our daily lives and an endless source of knowledge and information. In addition, the amazing progress of technology allowed us to always have a gadget nearby, whether it is a smartphone or a laptop. Of course, now the Internet is accessible from all of them. And thus people became inseparable from their machines and a bit hopeless when there’s no Internet.

However, it was inevitable. The Internet provided such commodities for our kind, that it seems almost silly that we wouldn’t take advantage of it whenever we could.

The future looks quite digital.

In this article, you will read about cryptocurrency and the rising star that is Bitnation.

About Cryptocurrency

Today, cryptocurrency is already in use. To clarify, cryptocurrency is a virtual currency system which allows transactions and exchange, just like with the common currency and banking system we all know. There are currently 45 active cryptocurrencies, with Bitcoin being the most well-known. Next in popularity is Ethereum, which I’ll mention a bit later. The concept of cryptocurrencies is growing in users every day, so it’s not too far-fetched to say that it does have a bright future.

Next, I’d like to introduce you to Bitnation.

About Bitnation

Bitnation was founded in 2014 by Susanne Tarkowski Tempelhof. Its goal is to create a new ‘world’, to oversimplify it. The name of their network is ‘Pangea’. The idea came from the supercontinent Pangea. That’s where people lived over 300 million years ago, way before the tectonic plates shifted into the seven continents we know today. Bitnation consists of DBVM – Decentralised Borderless Voluntary Nations and any member of Bitnation can create them!

When you join, you can become a World Citizen, an Ambassador, or an Ally… There is even an option to create a Consulate and bring people together to work. A Consulate can be wherever- an office, your home – wherever you want, basically. An Embassy is a place where people can live together. You can also get an ID or a marriage license! Can you believe that?!

About PAT

Bitnation has a contract with Ethereum, which I mentioned earlier. Ethereum is a computing platform that also allows users to hold cryptocurrency. The cryptocurrency that Bitnation uses is PAT, that is Pangea Arbitration Token. It’s based on your performance rather than power and popularity. So, when Bitnation citizens perform well (complete a contract, for instance), they get rewarded with a Token. Citizens can maintain a good reputation, for which they will also get incentives. In other words, good effort is rewarded well.

Final thoughts

Nobody can deny that this concept is very interesting and appealing. In 2017, Bitnation won UNESCO’s Netexplo Award. Besides that, Vice, Wall Street Journal and other reputable newspapers and magazines had also written about Bitnation in a positive manner. It seems as though this platform will grow in size over time. After all, it does already have over 2000 citizens.

Thirty years ago, we couldn’t have even imagined how the internet would evolve. With such prompt advancement in technology, it’s easy to envision cryptocurrency being in standard use. Who knows, maybe thirty years from now, we’ll all be citizens of new Pangea and buy our groceries with PAT!

Links of interest:

Website: https://bitnation.co/

Telegram: https://t.me/PangeaBitnation

Announcement Thread: https://bitcointalk.org/Bitnation

SHARE