BITNATION – General
BITNATION IS A COLLABORATIVE PLATFORM FOR DO-IT-YOURSELF GOVERNANCE
Bitnation provides the same services traditional governments provide, from dispute resolution and insurance to security and much more – but in a geographically unbound, decentralized, and voluntary way. Bitnation is powered by Bitcoin 2.0 blockchain technology – a cryptographically secured public ledger distributed amongst all of its users.
As we like to say – Bitnation: Blockchains, Not Borders.
Governance 2.0 is …
BITNATION does not care where in the world you are from, where you live, or what passport you hold. Everyone has the right to enjoy, high-end, competitive governance services.
BITNATION operates on the Blockchain – a cryptographically secured public ledger distributed amongst all of its millions of users around the world, to ensure peer-to-peer autonomy.
BITNATION is dedicated to the open source philosophy, and provides a platform for users to develop their own governance functions, or fork the code and create a brand new governance system.
PACKAGES – more info coming soon
LAW – ID SYSTEM | DISPUTE RESOLUTION | MARRIAGE & DIVORCE | CORPORATE INCORPORATION | LAND REGISTRY | BIRTH & DEATH CERTIFICATES | CHILDCARE CONTRACTS
INSURANCE – Mutual Insurance: HEALTHCARE | UNEMPLOYMENT | PENSIONS
SOCIAL SERVICES – EDUCATION
SECURITY – PEER-TO-PEER PROTECTION | INDIVIDUAL SECURITY | CONTRACT ENFORCEMENT
DIPLOMACY – ADVOCACY | CRISIS NEGOTIATIONS
STOCK DILUTION: There will be no new emissions of stock, hence current stock can never be diluted. See the shareholder contract terms and conditions for details.
FUND USAGE: All funds raised during the crowdsale of the initial 10% stock will go solely to start-up costs (see appendix for detailed start-up budget).
DISPUTE RESOLUTION: All contracts will be publicly administrated through the blockchain, and all conflicts will be arbitrated publicly.
OPEN SOURCE DATA: All code used will be open source code, shared on GitHub for the community to use, improve, and fork.
TRANSPARENCY: All financial documentation will be shared with the equity holders and the community of interest. All budgets are public.
ACCESS: We provide access to all the equity holders – as well as the public in general – to core team members and the community of interest.
BITNATION OFFERS A LOT OF DIFFERENT SERVICES – WHY IS THAT?
For three reasons:
- Service aggregation is one of the core value added of a government – it offers simplicity through package services. Additionally, identity, contract and resolution services are much more valuable together than as individual applications.
- Scale enables lower cost, it allows us to share talent and marketing resources for increased efficiency; negotiate bulk prices from on the-ground consultants, contractors and service providers, and cost-effectively automate the interweaving system.
- To promote the concept that full scale governance service providers can be geographically unbound, decentralized, and voluntary.
IS XBNX A CURRENCY?
No, XBNX is not a currency. XBNX represent BITNATION’s corporate equity – just like if you owned equity shares in a LLC – which pay dividends on the corporate profit. However, BITNATION uses the Blockchain technology to create and distribute equity in a similar way to Bitcoin and other crypto currencies. It’s called cryptoequity, you can read more about it here.
IS BITNATION A COMPANY?
Bitnation is a Distributed Organisation incorporated on the Bitcoin blockchain. Read more about DOs and DAO here.
IS THE BITCOIN BLOCKCHAIN SECURE?
Nothing is 100% secure, and some have made credible cases about future risks in securing the Bitcoin blockchain. To mitigate the risk of Blockchain related problems we will use different blockchains for different projects – as new competitors with compelling and useful features arrive to market – and we will have several blockchain agnostic projects.
WILL CONTRACTS DONE THROUGH THE BITNATION PLATFORM BE RECOGNISED BY GOVERNMENTS?
Recognition will grow organically over time, in tandem with mainstream adoption. When Bitcoin was first invented, it wasn’t recognized as a currency, until a significant amount of people started using it as a currency – the same is likely to apply in the case of BITNATION – although the recognition may be quicker since there are already a significant percentage of contracts and disputes being arbitrated by private courts around the world.
WHAT’S BITNATION’S CONNECTION TO CRYPTOCURRENCIES?
BITNATION is incorporated with the same technology cryptocurrencies use – the Blockchain technology. BITNATION also accepts cryptocurrencies for its services, and pays expenses such as salaries and dividends in cryptocurrencies.
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