Nomadia - Designing A Purely Digital Nation
It's been a big year for crypto-currencies. Anyone who "got in" around January, wether in ETC, BTC or most any of the other popular ICO's or crypto-currencies (that were not scams) made some serious returns without much effort. Myself and most of my family (everyone who participated) did really well.
After visiting multiple countries in Eastern Europe this summer where crypto-currencies were all-the-rage (mostly in Kiev, Ukraine), watching bitcoin hit $6,000, learning about Estonia's more than serious e-Residency program, I wanted to venture further into the possibilities that digital decentralization offers us.
To note, not everyone investing in crypto-currencies at the moment do so for the same reasons. Some are driven purely by seeking ROI, others by the technology, others for fundraising, others for anonymity, and many others for purely political reasons. If you'd like to get a good quick lesson on blockchain and the history of Bitcoin - watch "Banking on Bitcoin" on Netflix. You'll get a glimpse of why the 2008 housing crisis actually played a big part in the rise of BTC and why banks, government institutions, and many other players are on the edge of their seat deliberating their next move on the matter.
The possibilities are endless. The consequences for the status-quo are also potentially endless. Decentralization of currencies could theoretically lead to a more fair world. One can imagine why that isn't always a good thing for certain players.
Taking It A Step Further
Nowadays, nearly anyone can put together a well-designed white paper, create a new currency and make some money on an ICO. Many liken it to the dot-com boom. You'll see a lot of new, seemingly interesting platforms and coins in the coming years, some of them having more merit than others. As crypto becomes more of a "fad," the more we'll begin to see stale, ripped-off concepts that aren't really helping move the needle anymore.
Recognizing this to be an already occurring pattern, I thought it would be fun to stretch the possibilities of this new trend to new territory. Hence our over-indulgence in designing a new theoretical country. We even put together a mini constitution, automated the monetary fund & banking at-large (The Treasury), came up with some bad-ass branding tools, and put together a plan of action.
During a time of rampant political corruption, nationalistic uprisings around the globe, borders shutting down, walls being built, migrant crisis's occurring around the planet - Nomadia is an idealists dream come true. It's a borderless nation that theoretically works. It's citizens' wealth proportionately augment by helping out other citizens. It's not communism, it automatically rules out crony-capitalism, and it encourages investment in its people to all of its people.
Decentralization of Banking
This is one of the most radical and interesting concepts, in my opinion, of the Nomadia project. We've heard about the decentralization of currencies. That's huge. I've already touched on the potential for the elimination of direct meddling of your wealth by government institutions.
With peer-to-peer lending already on the rise, why not use blockchain to automate banking at-large?
Who needs 'em anymore?
Think about it, and let me know your thoughts.