BITNATION BLOCKCHAIN
Blockchain has been praised as being the most innovative technological development since the internet itself. Every day, we’re learning new ways how we can integrate blockchain technology into contemporary society, making it easier and safer for businesses to send and receive money across the world. But in spite of all of this, blockchain still faces a huge obstacle in its path: its reputation.
Since its inception, the blockchain community has struggled to shake its lawless image. Between 2011 and 2013, Bitcoin was used to buy and sell illegal goods online. And while facilitating illegal transactions is not what Bitcoin was designed for, the uninformed public still associated the world’s first cryptocurrency with the black market.
The unfortunate truth is that the actions of a few have tarnished the image of cryptocurrency, causing uninformed members of the public to view blockchain technology as dishonest or illegal. Some examples of this that have drawn public attention include:
The Bitconnect Crash: A Ponzi scheme marketed as a lending service, Bitconnect went from being worth $2 billion in market value to a total value of $9,200 as it quietly decided to shut down — wiping out life savings for some investors.
The BTC Global Scam: Nearly 30,000 people, mostly from South Africa, Australia, and the United States, were scammed out of $50 million by scammers pretending to be an investment management company.
ICO Scams: There have even been a few cases of fake businesses taking the time to build legitimate websites, create fake employee profiles, and establish an active presence on the internet, all so they can give the appearance of being a legitimate blockchain project so they can attract investors. After their ICO, they vanish without a trace — taking investors’ money with them.
And those are just some of the more publicized scams. There are countless scammers on Twitter, as well as chat apps like Telegram and Twitter, who claim to be blockchain developers who promise you thousands of dollars of free cryptocurrency as long as you send them a small investment of $200 or $300 beforehand.
Generally speaking, there has always been a higher level of volatility in crypto markets. But with recent talks of cracking down on exchanges in China and South Korea, as well as SEC probes into ICOs in the United States, cryptocurrencies have been especially volatile.
The problem with the current business model commonly used in blockchain projects is that it focuses on investors who’re already involved in cryptocurrency. And many of these crypto investors aren’t interested in what these projects can do, but rather how much money they can make buying and selling coins and tokens.
Bitnation believes that the future success of blockchain requires onboarding the people who stand to benefit the most from the various projects. For this reason, they have played a big role in promoting their services to entrepreneurs and traditional business investors that stand to gain the most from its services.
Bitnation offer a range of services in-house or in partnership with other providers:
The Bitnation blockchain Public Notary is being used for a wide range of purposes - marriages, wills, birth certificates, company registration, land titles, freelance agreements, loan agreements, etc;
The Bitnation Refugee Emergency Response (BRER) provides a blockchain ID for stateless people. BRER’s software won the Grand Prix and Award for Best Idea at the UNESCO NETEXPLO 2017;
Partnerships with third party governance service providers such as Exosphere Education Program, SpaceChain’s open source space hardware and software program, resilience.me basic income protocol, and Dragonfly’s physical security service;
Bitnation organized the world’s first Blockchain Marriage and World Citizenship ID, Blockchain Land Title, Birth Certificate and Refugee Emergency ID during 2014 and 2015.
In 2016 Bitnation, recorded the world’s first DBVN Constitution on the Ethereum blockchain and has since set up a resource center for other aspiring DBVN creators.
The Pangea Jurisdiction which has been in development since 2015, and is currently on version 0.3, is built on IPFS, SSB and Ethereum. Two previous iterations have been released in the past, the first one using the Horizon chain, and the second one based on the SSB “gossip” protocol.
The core function of any nation is to protect its citizens and their assets through an enforceable jurisdiction (the practical authority to administer justice within a defined area of responsibility). Security and justice ensure that our assets, including our bodies, are safe from violence and dispossession. Increasingly security and justice are merging as more of our assets become digital.
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