PRESS RELEASE

Bitnation: Power to the people!

Without a doubt, every citizen of this world is sovereign and has the right to self-determination. With the ever-growing global population, however, this is getting harder and harder to guarantee. We currently rely on archaic jurisdiction and governance models that have taken us so far but, with the new social issues and dilemmas, we must create a new version of what we call Nations.

Bitnation: decentralizing governance

Through their Pangea software, Bitnation has created the first free global market for governance services. With the help of blockchain technology, Pangea allows users to develop Decentralized Borderless Voluntary Nations (DVBNs) that people can opt-in and out of.

In Bitnation’s vision, the sovereignty and freedom of movement is transferred from a state level back to the citizen. Thanks to Smart Contracts, anyone can create a DVBN with a set-out a constitution to offer services and attract Citizens. Citizens of this bold new world will be able to choose any number of service providers to create a framework tailored to their needs!

More than a good idea

Bitnation has a long history of developing working software and they recently ramped up their development team to build Pangea. Unlike many ICOs which take place at a concept stage, Bitnation has already released an early version of the Pangea software (currently v.0.3.3) as a smartphone app you can download from the Google Pay and IOS stores.

Alongside creating a wallet and profile, the core of the app is their Nation registry which writes directly to the Ethereum blockchain and a mesh-network chat function. The technology behind these seemingly simple tools is incredibly detailed and the technically-minded are encouraged to read through their 42-page whitepaper to understand it in-depth.

PAT (Pangea Arbitration Token) utility tokens

Smart Contract creators, arbitration professionals, and legal experts will be able to leverage their expertise on the network by providing services and advice around creating contracts and resolving disputes within the jurisdiction.

These service providers along with users who create and complete contracts on Pangea will accumulate a reputation score and Bitnation’s state- of-the-art AI system will distribute tradable PAT tokens as a reward for good performance. Key performance indicators and cryptographical algorithms are set in place to avoid and deter any game of the system and ensure reputation is more than a popularity contest.

Joining the ICO

The total number of PAT tokens issued will be 42 billion. Bitnation will be selling a total of 34% of the tokens during a three-phase sale process. On the 25th of March, 7.3% of the tokens will be sold during a one-month public crowdsale. To buy PAT, send ETH to the official contract address found on the official token sale page (https://tse.bitnation.co) after 4pm CET on 25/03/2018 – please send from a wallet capable of receiving ERC20 tokens back to the same address (e.g. MEW).

Conclusion

Having the underlying infrastructure already in place to pull off such a grand idea is undoubtedly a good sign and a genuine opportunity for anyone looking to join this movement!

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