Liberland, A Free Republic Sovereign State, Uses Only Cryptocurrency
It seems that every country in the world is broken. And, unfortunately, it is almost impossible to weed out problems plaguing each and every country. One man, however, has come up with a viable idea of creating the ideal country – start one!
Liberland is one of the newest countries in the world – it is barely three years old. It is also the third smallest country after the Vatican and Monaco – it seats on land measuring approximately 7,000 square feet.
Liberland was formed on 13 April 2015 by Vit Jedlicka. Jedlicka took advantage of the fact that the land was officially designated a no-man’s land after a bitter land dispute between Croatia and Serbia. When fighting over boundary locations, Serbia and Croatia both abandoned a small piece of land located on the west bank of the Danube River.
Welcoming To All
Since Liberland is not claimed by any country or organization in the world, it remains an open space where anyone can move in and be among the pioneers of a new country. That said, however, Vit Jedlicka and his associates who are working towards establishing the new country have set certain requirements for anyone seeking to become a citizen:
- You must have not fled from your previous country due to criminal offenses.
- You must have respect for the private ownership of other citizens.
- You must have respect for other people regardless of factors such as race, gender, sexual orientation, and religion, among others.
Applying to become a citizen of Liberland is easy and quick – simply fill out the online application form available.
Liberland’s Own Cryptocurrency – Merit
Liberland hopes to be a country like any other but, of course without the vices that are plaguing most countries. One of the vital factors in the development and running of any country is a form of currency. For Liberland, this will be Merit, a cryptocurrency.
Merit will be used for virtually all transactions on the land. However, the country’s budget is currently supported by about a dozen cryptocurrencies. What’s more, the country currently accepts only Bitcoin, Bitcoin Cash, and Ethereum to fund its running. In return, citizens and donors receive Merit to run their transactions.
Merit is still in the making, and it will be officially launched in April 2018. It will run on the latest blockchain technology to prevent any shortcomings currently associated with other cryptocurrencies.
The Current and Future States of Liberland and Merit
Liberland is still new considering that it was founded in 2015. Vit Jedlicka says that Croatian police patrol the land regularly and may at times apprehend visitors. That said, this does not put off visitors as the land receives over 100 visitors every day. What’s more, Jedlicka and his associates are awaiting exoneration from the Croatian Constitutional Court regarding the matter.
Merit will be one of the most promising cryptocurrencies not only for citizens of Liberland but also for speculative investors. Vit Jedlicka is a professional and an experienced financial analyst, and he plans to design the best cryptocurrency that can withstand uncertainties in the financial sector.