Liberland: Bitcoin ‘Is Truly the Base of Our Economy’

Bitcoin.com had a chance to discuss some topics with the Liberland president Vít Jedlička concerning the many topics the micronation faces, the citizens use of Bitcoin and goals the group has for Liberland’s future.

Also read: The Digital Revolution Increases Sovereignty

The Free Republic of Liberland is a self-proclaimed micronation founded in April 13, 2015. The proclamation of the state’s independence was initiated by the Czech libertarian political activist, Vít Jedlička.

Located between Croatia and Serbia on the western bank of the Danube river, the tiny nation has brought about many discussions concerning micronations and secessions. Jedlička and Liberland’s citizens are strong proponents of free markets, and the use of the decentralized cryptocurrency Bitcoin are included among many other non-traditional beliefs.

“Bitcoin.com is supportive of Liberland both philosophically and financially,” and hopes the movement continues to be successful, Bitcoin angel investor, Roger Ver, said.

The Free Republic of Liberland Continues to Progress

Bitcoin.com (BC): Can you tell our readers about Liberland and how it’s going there?

Vít Jedlička (VJ): It is doing great! There is permanent settlement group working on preparing everything on moving in. They control territory now. Very soon you will be able to see beautiful drone pictures. We have now seventy-five representative offices around the world. I’m just flying back from Malta where we will have a very strong presence. Our legal system is close to completion, and I am proud it will be most libertarian one on this planet. We appreciate today’s approach of Croatia which strictly protects our borders we hope to develop a very friendly relationship with the new government that will be formed in September. We are extremely grateful for the support that Bitcoin.com and Roger Ver gave to Liberland. We hope that many more important supporters will have the courage to step out and will help Liberland to move forward.

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Loyyal Creates Blockchain-Style ‘Internet of Loyalty’ in Dubai

Dubai is set to host the world’s first blockchain loyalty program with the launch of Loyyal, an umbrella scheme aimed at uniting many rewards programs under one banner. In concert with the Dubai national government, Loyyal will use an “unbundled” blockchain to provide value transfer between loyalty scheme participants. This project hopes to unite Dubai’s many existing schemes under one roof. In doing so, the company will create a network concept known as the “Internet of Loyalty.” “Loyyal is a universal platform built for the loyalty rewards industry on blockchain and smart contract technology,” Loyyal CEO Gregory Simon said in an interview with PYMNTS.com. “We are applying the blockchain technology to pull together the entire loyalty industry, which is highly fragmented for the government of Dubai.” Loyyal has been given the blessing of the government, which is actively involved in blockchain research itself. Earlier this year, it formed the Global Blockchain Council, which aimed to explore possibilities for blockchain technology usage across Dubai’s infrastructure, in both “financial and non-financial” sectors. Simon suggested an umbrella loyalty scheme to attract tourists to culturally important sites, as well as a longer-term goal of including incentives for local residents. Points earned while visiting museums and other attractions can be spent with various partners, allowing users to bypass the difficulties posed by the current patchwork of multiple private schemes. “The consumer downloads a wallet or the embedded wallet within the app or the point of sale device, and the points issuer gives permission for the specific wallet to do what has been agreed,” Simon continued. “The points issuer retains complete control over everything.” Loyyal will not attempt to run off a full blockchain, Bitcoin or otherwise. Instead, the program will harness smart contract capabilities in its own “attracted value consensus protocol,” or ABCD. Blockchain to Play a Role in Future Dubai Growth? Dubai finds itself at the center of a Middle Eastern optimism set to provide an ideal environment for fintech in the next few years and beyond. A report by consultants Booze Allen Hamilton earlier this month highlighted the “rapid changes” afoot in the Middle East and North Africa, noting blockchain’s potential to “help remove the security concerns often raised by organizations to justify their unwillingness to reveal information, while encouraging the adoption of data-sharing incentives and fostering a community-based ecosystem that can determine the value of data over time.” Dubai’s GDP, meanwhile, is forecast to grow by $5.5 billion by 2018 from what the report calls “digitization.” What do you think about the Internet of Loyalty and the Dubai government’s ideas? Let us know in the comments section below!