Blockchain technology and the decentralization that comes with it has infiltrated many global systems that on normally operate a centralized manner. However, the government, which is probably the largest centralized system has not yet tasted the bliss called decentralization, but BitNation is here to change that.
Before we go deep into how BitNation is using blockchain to bring decentralization to the government system, what they do is simple – just like other decentralized platforms, they are creating a power or control shift from the states of a nation to the citizens themselves.
BitNation has been able to identify an alternative model of governance where despite there being no centralized form of decision making or authority, will be able to operate in complex systems, and at the same time have efficient patterns developed from the agreement of many entities or individuals. And how are they doing it?
The Pangea Project: The Internet of Sovereignty
BitNation is creating the world’s first Decentralized Borderless Voluntary Nation (DBVN), but that’s not all; it is developing the Pangea Jurisdiction which is a communication software for Voluntary Nations. This software acts not only as a jurisdiction for DBVNs but also as a medium where other DVBNs can be built, and access to governance services can be given.
The Pangea Token
The Pangea jurisdiction uses the Ethereum blockchain as a medium for the peer-to-peer development of Voluntary Nations, where sincere agreements can be made and arbitrated. The backend of Pangea is in the form of a mesh network that can be programmed to create a communication pod with other blockchain platforms to create and complete smart contracts. On the other hand, the front end of Pangea is developed in the form of an instinctive mobile chat application.
Now, this is where a utility token comes into play. On the Pangea platform, smart contracts, arbitrators, and users are rewarded for building reputations, resolving disputes attached to a contract, and for completing a smart deal using the Pangea Arbitration Token (PAT).
The Pangea ICO Journey
For a token-based incentive like that of the Pangea platform to be successful, a wide distribution of the PAT needs to be done. And so began the Pangea Token sale journey.
The token sale period has been divided into three phases, during which a total of 14.28 billion PAT, amounting to 34% of total tokens, will be sold.
The first phase is a presale which was completed in December 2017, the second phase which starts by March 25th, 2018, is a one-month public auction with up to 7.3% supply of PAT and a hard cap of $27.3M. While the third phase is a slow release where the unsold tokens will be sold on different exchanges over the next 24 months, with a total of 14.28 billion PAT being sold by April 2020.
BitNation is doing something other decentralized platforms have never done before. With the Pangea jurisdiction and the PAT token, they are developing the first Decentralized Borderless Voluntary Nation (DBVN). The platform is creating a paradigm shift that might shake the very core of global governments.
Find out more on http://www.bitnation.co/