It seems like everywhere you look on the internet there's a new crypto popping up. Quite frankly I think the market is already too saturated. It's no surprise that investor confidence is wavering a bit this Q4 of 2018. A friend of mine recently asked me "So how do we separate the gold nuggets from the chaff?"
My response was a reference to an old saying
Every quality and sincere project will always have visible track record of milestones and achievements. Sure a snazzy whitepaper may get investors blood racing with anticipation but it's really the progress report that will make them to decide to double down and tell a friend.
In my last few articles, I shared my discovery of a wonderful governance-focused platform called Bitnation.
So what is Bitnation? If you weren't aware, Bitnation is the world's first Borderless Decentralized Voluntary Nation (BVDN).
As the name implies, Bitnation is not limited to any particular geographical location but aims to serve all ethnicities and categories of people from around the world. Bitnation allows people to join its platform as citizens. They can either join a community with ideals that match their own (a nation) or they can create their own nation. All DBVNs are joined voluntarily. DBVN is free from all and any manner of discrimination, force, slavery, persecution, intimidation, reprisals and any other negative effect or influence one party may exert on another.
Anything can be the basis of a "nation". It could be a shared language or culture, shared love for sports, political theology or even the love of food, music or art.
Bitnation is a mobile-centered platform. Users join by registering on the Bitnation app called Pangea.
Pangea can best be described as Jurisdiction software. It is a jurisdiction in the sense that "Pangea" is coined from the supercontinent that once consisted of all the continents put together.
On Pangea, users (citizens) can interact with the world and interact with each other through the use of smart contracts. The Bitnation Project is blockchain agnostic, but for now it runs on the Ethereum blockchain.
By creating and executing smart contracts, users gain reputation points/sub-tokens. Citizens can also serve as arbitrators in disputes and earn tokens for successfully resolving the issues. These reputation sub-tokens are merely an indication of the value the network has of a particular user so they cannot be traded or exchanged from user to user. Ultimately, a computational network Oracle and a learning bot called Lucy use these sub-token values as parameters to award citizens with actual tradable tokens called PAT(Pangea Arbitration Token).
There are three different types of sub-tokens each earned in a different way.
Proof of Agreement (POA) - This is earned by citizens when they create or execute a smart contract. Each smart contract has its own score/rating attached to it.
Proof of Collective (POC) - This is earned by entire DBVNs, user groups or governance services that are created on Pangea. Every person (citizen), code or smart contract has a unique Identifier attached to them and so pretty much everything on Pangea gets rated. Yes, you read that right, even the legal codes. Proof of Collective is for rating the systems in place to see if the citizens are satisfied with the type of governance the nation is running.
Proof of Nomic (PON) - This is earned by the laws, codes and smart contracts. Yes, when people use any of them the citizens can rate them. That way the creator of the smart contract gets feedback on how robust the smart contract is and gains reputation as a good smart contract creator, or loses reputation if there is a large amount of downvotes.
The Pangea Arbitration Token is used to reward all 3 of these reputation sub-tokens. Remember the allocation and distribution of the PAT is done by the Oracle and Lucy bot.
So what stands out about Bitnation?
Well, quite a bit.
1. Decentralized Nations
Bitnation puts power and freedom back in the hands of the masses as it should be. On Pangea you can exist as a whole new citizen absent bias or persecution.
2. Working and Live Nation
The Bitnation Project isn't offering a make-believe existence such as the Second Life game. No, Bitnation is actually working with governments to establish legal jurisdiction. Bitnation testimonials show that Bitnation has been able to provide the platform for recognized and VALID weddings, birth certificates and even Land Titles.
3. Mesh Network
Bitnation's Pangea was designed on the Panthalassa framework. One of the major advantages of this is that Panthalassa is a Delay Tolerant Network. This means even in the scenario of a weak or intermittent internet connection user data or operations are not lost, but simply wait till the connection is strong enough to broadcast. Mesh networks also allow users to piggy-back off other peoples (nodes) connections over a wide area. This is best applicable in remote locations where only few nodes such as Broadcast towers or routers may have access to internet. Bitnation is primed to be accessible by the entire world.
4. Blockchain Agnostic
Personally, I'm not a fan of the Ethereum network. It's slow, non-scalable and allows pretty much anyone to create a token on it. This is why I love the fact that Bitnation doesn't depend on it. The new Pangea 0.3 frontend is a mobile first chat application with embedded Ethereum smart contract functionalities (and the ability to switch between other blockchains). Bitnation's Pangea is designed to work on different blockchains with great progress already being made for the integration of Bitcoin, EOS and Tezos.
5. Holons
A key governance hurdle that Bitnation has jumped is the ability to create Holons on Pangea. A Holon is a unit (group or nation) that can exist on its own, or as part of a bigger unit (Pangea ecosystem). This is the very basis on which the freedom on governance works.
6. Peer to Peer Contracts
Bitnations allows citizens to interact and even trade in a trustless manner using smart contracts. I outlined a few user case scenarios with Bitnation..
7. Roadmap
How do you know a working project? Simply by their viable achievements over time. Bitnation was created in 2014 and since then have been actively working to evolve the Pangea Jurisdiction. Let's look at how far they have come and what they plan to accomplish in the future.
As we can see Bitnation has a fully focused and competent team and their platform has so much to offer. It won't be a bad idea to check out the Pangea for yourself
If you would like to be a part of this wonderful project or need more information about them feel free to drop a comment and I'll do my best to answer your questions. You can also check them out yourself by following any of the links below.
Bitnation Website - https://tse.bitnation.co/
BitNation Blog https://blog.bitnation.co/
Bitnation Constitution - https://github.com/Bit-Nation/BITNATION-Constitution
Bitnation Social Media
Bitnation Telegram | Bitnation Facebook | Bitnation Steemit
DISCLAIMER: The information contained within this post shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. You can lose all of your money by not investing wisely. The above information is for educational and awareness purposes only. Kindly Endeavor to DO YOUR OWN RESEARCH.