Advertisements
ICO

Bitnation – Decentralized Jurisdiction Through Blockchain Technology

What are the limits of what blockchain can be used for?

If you have been reading any news in the latest year, or even just been browsing the internet, you are sure to at least have heard of blockchain technology. Most people in the world don’t know what it really is or how it works, but the general consensus is that it has the ability to completely change many aspects of the modern life and especially the economy.  You might even have heard people say that blockchain will change the entire world in a way that most people can’t even comprehend. This would mean that the limits of what blockchain technology can be used for are almost endless. But can blockchain really have as big of an impact on our lives as some people make it sound like? well, it actually could. There are constantly being started new projects who are trying to apply the technology to new sectors of the modern world. One of those projects who is trying to create something huge and revolutionary with blockchain technology is Bitnation, a decentralized and borderless nation. This is a whole new take on the concept of nations where individuals are able to voluntarily become part of a nation, independent of location. All jurisdiction activities related to being a citizen of a nation can be solved directly with other citizens of one’s nation through Bitnation’s app, Pangea.

map grey.png

Source: Bitnation Litepaper

Can blockchain nations even exist?

The concept Bitnation has come up with is definitely very different to the current jurisdiction- and nation system. But Bitnation has proven that legal processes can be executed on blockchain technology, Bitnation notably hosted a blockchain wedding back in 2014, but maybe even more impressive, issued the first blockchain birth certificate, world citizenship, and refugee emergency ID. This proves that establishing a worldwide society with legal documentation stored on a blockchain truly is possible, and just like some people have preached in the media, this would be a more fair and secure system for everyone, as documents would be interchangeable. A current issue in blockchain based social platforms is that voting power is heavily affected by the funds or popularity an individual has. A single user can completely control what goes to the top without anyone having a chance to intervene. Bitnation has identified this problem and has come up with a solution so the Pangene app doesn’t have a problem similar to this, where money and popularity affect results. Because Pangene is a jurisdiction platform, it is essential that rewards are purely based on results and performance, which is why users are rewarded with a non-tradeable reputation token when successfully resolving an issue on the platform or completing contracts. Users will then, later on, be rewarded with tradeable ERC20 tokens, the PAT token.

2018-04-19 14_43_17-Bitnation Pangea - Welcome to the Internet of Sovereignty - YouTube.png

Source: https://www.youtube.com/watch?v=CL4eM9JyL08&ab_channel=BitnationPangeaPirates

Token sale

To fund their project, Bitnation is raising funds through an initial coin offering (ICO), selling their ERC20 token PAT. PAT tokens are going to be an essential component of the Bitnation platform, as it rewards citizens who have gained a good reputation through fairly completing tasks and resolving issues.

When

The token sale started the 25h of March

The token sale ends the 24th of April

Price

22 PAT = 1 USD (Bonuses apply to different phases)

Supply

  • Total amount of tokens minted is 42,000,000,000 PAT
  • A maximum of 4,200,000,000 PAT will be for sale during the ICO
  • Hard cap is 30,000,000 USD

Team

Bitnation has a vast team full of talent in different fields, these are just some of the members of the Bitnation project.

2018-04-19 15_17_03-Bitnation Pangea _ Your Blockchain Jurisdiction

Source: https://tse.bitnation.co/

To view the entire team, learn more about them and their advisors, visit the official website at: https://tse.bitnation.co/ or learn more by reading their whitepaper here.

Roadmap

2018-04-19 15_23_41-BITNATION Pangea Whitepaper 2018.pdf - Adobe Acrobat Reader DC.png

Source: Bitnation Whitepaper

Video

Learn more

If you find this project interesting and wish to learn more about it or their token sale, you can visit the following links below and read their whitepaper. To keep yourself up to date on the project, you can follow their social media accounts also linked below.

Website: https://tse.bitnation.co/

Whitepaper: https://github.com/Bit-Nation/Pangea-Docs/raw/master/BITNATION%20Pangea%20Whitepaper%202018.pdf

ANN Thread: https://bitcointalk.org/index.php?topic=2290580

Bounty Thread: https://bitcointalk.org/index.php?topic=3081168.0

Telegram: https://t.me/PangeaBitnation

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

 

My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1855321;sa=summary

 

 

useacoin.com is not a financial advisor and does not provide legal or financial advice. Always do your own research and invest responsibly.

 

Advertisements

2 comments on “Bitnation – Decentralized Jurisdiction Through Blockchain Technology

  1. ThaKingDude

    Do you think this is profit in future? How much you invest sir

  2. Useacoin

    Hello, unfortunately, no one can guarantee profits of any project, but usually, the value of a token is affected by the success of the project behind it. So if the project does well in the future, there is a chance that the value of the token follows, again this is not guaranteed.

    To your second question, I can’t disclose any investments made by myself 😛 But I do wish you the best of luck if you do decide to get the token once it hits the market 🙂

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: