The world's first decentralized blockchain state Decenturion was established in May 2018 and first presented during the Consensus 2018 conference in New York. Since that time, blockchain states have started to pop up here and there, luring citizens with utopian promises.
If you’ve ever thought of acquiring a digital, virtual citizenship, there are a couple of new options on the table – a ‘Decenturion’ and a ‘Soviet Land’ on the blockchain, among others. True, ‘crypto passports’ often come with coin offerings that you might not necessarily be interested in, but the blockchain republics also promise social justice, new or forgotten models of governance, voting rights for every citizen.
The Idea Of The Project
The blockchain-based “Soviet Land” has been recently proclaimed in the Russian Federation, the successor of the Soviet Union which was dissolved in 1991. Almost three decades later, many Russians regret the loss of the safety and security of the Soviet era as political freedom didn’t bring economic prosperity for all.
The State will have its own cryptocurrency – Soviet Land Crypto Rubl (SLCR) – accepted by all institutes businesses and residents of Soviet Land and used without limitation for international settlements and payments between legal entities and individuals. Moreover, the creators of this digital version of the USSR promise to compensate people for their outstanding USSR deposits in Sberbank in the national cryptocurrency adjusted for inflation.
Founders of Soviet Land promise citizens to return their USSR deposits in Sberbank. The pay off will be performed in the national digital currency, taking into consideration inflation.
According to Soviet Land’s creator, Andrey Milenin, the state aims to provide its citizens with the opportunity to restore social justice and participate in government. However, in an ironic twist, Milenin claims the blockchain USSR will be based on a “centralized system of individual government.”