Governments are indeed the backbone of a nation. The development of a nation primarily depends on the success of its governance. But are the governments actually working for the people? Isn't the traditional governance becoming a bit bogus. The so called democratic governments seems to be a mask to cover their actual dictatorship. The right to people is coined only in the democracy. It seems that the time has arrived for a new governance methodology.
Blockchain is indeed a revolutionary technology with no doubt. Their use cases are not limited, but presently blockchain is used mainly with business purposes. Can blockchain be applied to real life issues? Can blockchain change the way of governance? Yes is the answer, take a look at Bitnation.
Bitnation is trying to build the worlds first Decentralised Borderless Voluntary Nation (DBVN). Bitnation can be referred to as a platform for Do It Yourself governance. It aims to provide better governance services compared to present ones. The project proposes a unique idea which seems pretty much interesting. Bitnation makes you eligible to become a world citizen along with a variety of features. Its main goal is to become a Decentralised Autonomous Organisation (DAO) where each and every citizen can take part in the governance procedure.
Traditional governance methodologies are becoming worser and they needs a change. Governance 2.0 represents an alternative model for global governance where it lacks a centralised decision making power. The power lies within the citizens with no discrimination. These emergent structures are observed to be highly efficient.
Pangea is bitnation's decentralised jurisdiction platform application. It represents a Borderless nation similar to the Pangea supercontinent that existed 335 million years ago. The Pangea application allows anyone to create or become citizens of a Borderless nation. Citizens of a DBVN can agree on contracts and resolve disputes with each other.
The Pangea Arbitration Token is an ERC20 token built on native Ethereum blockchain. The PAT tokens powers the Pangea platform and is designed specifically to reward the successful execution of contractual agreement on the platform. PAT is an arbitration currency which is mainly focused on performance. The PAT tokens will have a total fixed supply of 42Billion.
The PAT tokensale started on March 25th and will run until April 25th. The tokensale has a hardcap of 30 million$ with no necessary softcap. The sale operates on a reverse auction model in which the token price reduces at a fixed rate towards the end.
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