Liberland is located on a 7 sq km sandbank between Croatia and Serbia. The country has a flag, a coat of arms, a hymn and even a provisional government. Half a million people have applied for citizenship in Liberland despite non-stop police persecution - around 100 Liberlandians have been arrested since the proclamation of Liberland.
“The objective of the founders of the new state is to build a country where honest people can prosper without being oppressed by governments making their lives unpleasant through the burden of unnecessary restrictions and taxes,” the official statement of the founders said. It seems Bitcoin has been specially created to tailor to Liberland’s needs - or, rather, Bitcoin put the idea to create Liberland into its founders’ heads? The new means of payment that enables successfully avoiding numerous limitations of fiat money is the official currency of Liberland alongside Bitcoin Cash and Ethereum, while the state budget is distributed among almost a dozen cryptocurrencies.
According to Vit Jedlicka, Liberland is planning to outcompete the existing states in the design of their internal system. The country is planning to start distributing its own cryptocurrency, Merit, in April, which will match the third anniversary since its establishment. Merit will be given to those who pay tax, hence, all donors will receive a stake in the country. Liberland does not have obligatory taxes, people pay as much as they want. Vit Jedlicka says that they want to make sure that positive decisions are made by those who have contributed to the creation of the country. In addition, Liberland’s legal system is expected to run on blockchain.
Vit Jedlicka is not worried about the volatility of cryptocurrencies. He says the nation has no debt and low running costs. Moreover, he is thinking about establishing more Liberlands all over the world and is considering candidates in Africa and Central America. He advises those willing to join Liberland to wait until early spring - that is when their social and cultural life starts to flourish, he says. Liberlandians will be able to occupy boats and houseboats parked in Liberland waters, he suggests.
Vit Jedlicka is confident that Bitcoin and other cryptocurrencies will replace the banking sector within 10-15 years. He says that the technology can have as profound impact on governments as it has already made on financial institutions, and Liberland will become the basic model for change.