Liberland, the other country with crypto as its official currency

Although El Salvador made headlines in 2021 for being the first country to make Bitcoin legal tender, it may not be the first state to adopt cryptocurrency as its official currency. Liberland, a self-proclaimed European micronation, has had its own cryptocurrency since 2019.

But what is Liberland?

On the banks of the Danube, between the borders of Serbia and Croatia, lies a stretch of uninhabited territory, which sparked a disagreement between the two countries in 1947, which was put on hold and then forgotten.

Almost half a century later, after the dissolution of Yugoslavia in 1992, these desert-like and swampy lands were without owners. Each country stuck to its positions, since the piece of territory belonged to the other, two European citizens seized the opportunity that presented itself. Based on the legal concept of Terra Nullius (close to no man’s land), Czech politician Vít Jedlička and his companion Jana Markovičová subsequently claimed the region.

On April 13, 2015, they proclaimed the Free Republic of Liberland and waved the flag that same day. According to an old concept, the first person to discover and claim an area would probably become the owner.

The development of one of the smallest states in Europe

“Big” at just 7 square km, this new micronation has come a long way since its inception. A constitution and a president soon followed his proclamation, but his success didn’t stop there.

In international law, three elements are necessary for the formation of a state: a territory, a population and international recognition. Liberland has had its territory since 2015 and the very recent history of this new country has attracted a large number of curious people. Indeed, the Republic of Liberland has already thousand citizens, and above all more than half a million applications for citizenship.

Based on these first two successes, she has yet to face the biggest challenge: international recognition.

To do this, he had to form a government. Liberland has managed to have as many as 70 diplomatic representatives from all over the world. And that’s not all; Liberland has been recognized as a sovereign state by other micronations such as the Kingdom of Enclava, the Principality of Sealand, the Kingdom of North Sudan as well as Somaliland.

A wind of modernity blows over the territory of Liberland, but long forgotten

Liberland’s goal is to create a tax-free nation where freedom will be aggravated, a desire to be ahead of its time is therefore essential.

One of the sovereign powers of a state is to mint its own currency. In addition, Liberland has opted for a digital currency as its official currency since 2019† If Liberland accepts all currencies, government or digital, it is: Earnings Cryptocurrency (LLM) what is the official currency of this republic.

The Liberland Merit is available on the Altilly exchange platform. It resides on the Bitcoin Cash blockchain and uses Simple Ledger Protocol (SLP) technology. So far, only 1 million merits have been encoded, but more may be added in the future. With a price close to dollars, the LLM’s market cap is currently around $1.1 million.

In addition to being a cryptocurrency, as a digital token, Merit allows its holders to use it to vote or voice their opinion, like shares in a company.

So, in addition to apparently winning El Salvador over digital currencies, would Liberland be modern enough to offer a new society system? Crypto Democracy? Decentralized Democracy? The Blockchain Republic.

Everything is new in this country, so why not explore their token voting system to review the basics of how a state works? We often talk about decentralization in politics; here it would take on a whole new meaning with a more distant stadium in sight.

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