Introduction— Of Bitnation.co

The advent of blockchain technology and the unique decentralization that is associated with it has embedded itself into many global systems that thrive on a central base of operation. However, the government, which indisputably is the most significant centralized system in human history, has yet to taste the goodies known as decentralization—and that is precisely what Bitnation is out to change.

Before we critically analyze how Bitnation brings decentralization to government system through the use of blockchain technology, it is imperative that we know how they do it—and it is straightforward. Just like most other decentralization systems, Bitnation developing a control or power shift from the states of a nation down to the citizens of that nation.

Understanding the historical perspective of the Bitnation governance 2.0

If you are looking for the world’s first virtual nation based on the innovative foundation of decentralized blockchain technology, you have found it—Bitnation.

Like every other nation listed, Bitnation has its currency, together with Its Ethereum, offering bitcoin-denominated debit cards for its citizens through the services of Wirex platform.

It was in 2014 Bitnation launched its services, and raised an initial sum ranging more than $100, 000 USD in seed funding. A couple of cryptocurrency individuals were responsible for the foundation of the project, which was aimed at transforming people’s perception towards administration and governments in the future.

Susanne Tarkowski Tempelhof and James Fennell Tempelhof are one of the founding founders. Erik Vollstadt, Spanish, is responsible for marketing for Bitnation while Arlyn Culwick is a core member of Blocknet.

The Bitnation Governance 2.0

The Bitnation functionality has been able to spot and is enforcing an alternative model of governance where they will operate in complex systems, even without being a centralized form of authority or decision-making body. At the same time, the platform has, through existing agreements between individuals and many entities, developed efficient patterns. And how are they accomplishing that? It’s through The Pangea Project: the Internet Of Sovereignty.

The Pangea Project & the Pangea Jurisdiction

By the Pangea Project—the Internet of Sovereignty, Bitnation is creating the world’s first and foremost Decentralized Borderless Voluntary Nation (DBVN). And that isn’t all. Bitnation is also creating the Pangea Jurisdiction that will serve as communication software for Voluntary Nations. Apart from acting as a Jurisdiction for DBVNs, it also serves a means of building other DBVNs while providing users with governance services.

How does it work?

The Pangea Jurisdiction allows citizens of Bitnation to engage in peer-to-peer agreements, resolved disputes from DBVNs through arbitration and the use of Code of Law created by them only. It also enables them to access governance service.

Bitnation offers world citizen ID’s and public notary services for those who join the framework. Everyone is provided constant education regarding the cryptocurrency economy and the blockchain technology. Anyone can receive basic income and financial security through the cryptocurrency mining. Bitnation have many ambassadors spread globally who promotes the services to millions of people.

This brings us to the use of Bitcoin Debit Card.

Using the bitcoin debit card enable citizens to free themselves from the rigorous control of their government, coupled with the unlimited ability to spend cryptocurrencies offline and online for the purchase and payment of goods and services.

But nation's bitcoin debit cards are available through Wirex platform, and there is no significant difference regarding the associated services in comparison to the original Wirex card.

Additionally, Visa card and Master Card issued are available in USD, GBP, and EUR currencies. Customers can choose virtual cards to physical plastic cards, which will arrive within 8 weeks of demand, depending on the location where the order was made. As for the Wirex cards, they are available and accessible to more than 130 nationalities worldwide. The price of shipping is included in the original cost of the cards. Also, it is possible for clients to make use of the wallet using their smartphone apps in the iOS Store and Android Google Play Store.

For clients who do not wish to disclose their identity, it is possible for them to buy an anonymous card. In this case, however, the spending threshold that applies is lower compared to those obtained after verification. For clients to be able to verify their identity, they have to provide their identification documents containing a three months newer photo and proof of residence. Typically, the verification process varies from 7 to 10 working days, a time during which the bank is validating the details provided. Wirex platform handles all data supplied to it according to international banking rules to ensure the customer’s data are kept protected.

The Pangea Arbitration Token (PAT) and Its Function

• PAT is the most critical segment of the Pangea ecosystem

• They have been designed as a way of rewarding seamless and smooth implementation of P2P contracts on the platform

• The token is not a primary currency, but one that is designed to be tradable only on cryptocurrency powered exchanges

• Presently, PAT complies with ERC20, together with distributed Ethererum smart contracts.

• The system also offers three sub-tokens which are; Prove of Collective token, Prove of Agreement taken and Prove of Nomic token

• Although this sub-tokens are non-tradable reputation tokens, they effectively powered the ecosystem

• They form reputation contracts for individual users on Pangea

• Citizens are allowed to build and complete contracts and solving disputes that are attached to the contracts

• After a successful completion of the requirements, users are rewarded with reputations

The Pangea ICO Adventure

To make such a token-base incentive successful, a broad distribution of the PAT needs to be carried out. And so began the sale of the Pangea token.

The PAT sale period is broken into three phases, for which a total 14.28 billion PAT, ranging about 34% of total tokens, would be sold.

The starting phase is a presale that ended in December 2017. The next phase started on the 25th of March, 2018, the month that saw public auction of PAT ranging 7.%, including a hard cap of $27.3 million. As for the third phase, the release process is a bit slow. Under this phase, the tokens that weren’t sold initially would be sold within the next 24 months on different exchanges. It will amount to 14.28 billion PAT that would have been traded off by April.

Conclusion

Bitnation.co is undertaking and doing something unique and innovative that other decentralized platforms have never comprehended before now. Given the PAT token and the Pangea Jurisdiction, Bitnation is creating the first DBVN. The Bitnation.co platform is developing a revolutionary shift in paradigm that has the potential of shaking the very core of global government as we know it.

Learn more about Bitnation:

Website:https://bitnation.co

Telegram:https://t.me/PangeaBitnation

Twitter:https://twitter.com/@MyBitnation

Facebook:https://www.facebook.com/MyBitnation

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