BitNation

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BitNation is a decentralized governance platform that provides individuals with common government services ranging from identity (proof-of-existence), voting, business registration, insurance, and dispute resolution. BitNation is built on top of the Bitcoin blockchain and uses Bitcoin as the currency for paying for these services.

An example where BitNation could be used is in land and ownership disputes, which have been known to lead to a great deal of violence and war in third world countries, where parts of the land are not officially governed or controlled by authorities. BitNation and its members can make use of the blockchain technology to record and identify their land ownership based on its global coordinates, which can be obtained through a GPS device. This is an extremely easy and cost-effective process when compared to our current systems. This can then be used to obtain a loan, and also stops a person from selling the same land to multiple people, a physical world example of a double-spend that the blockchain and its trailing consensus help prevent.

Furthermore, there is great news for business owners, especially in parts of the world where such a process can take up to 3 months. A superfluous timeframe for a task that has with the help of our digital connection is shortened down to a few minutes at a fraction of the traditional cost. If you imagine the difference this could make a person’s life when seeking a way to support their family or take on a new opportunity, you may see the huge positive impact this will have on our lives.

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