Harnessing Blockchain Technology To Create DIY Governance 2.0

In the world of Bitcoin and digital currencies, we need far more collaboration from all involved parties in order to gain more mainstream attention and adoption. While we have seen several partnerships being created as of late, the most significant to date might be the one between Bitnation, the Blocknet and Horizon.

The power of the blockchain is vastly underestimated by traditional institutions around the world, as they feel that all of this transparency is not beneficial to the world’s population. However, a lot of people both inside and outside of the Bitcoin space seem to think otherwise, and this partnership is just one of the examples of what can be achieved.

A voluntary form of governance may sound like an idea that is destined to fail, but because of its borderless and decentralized nature, the outcome may differ. Let’s face it, the current infrastructure benefits only a certain percentage of the global population, and is proving to be a pain in the neck for billions of people all around the world. It may be hard for us living in the Western world to imagine, but there are still many places in the world where you can not prove your identity, legally own your house or even get economic protection.

Blockchain technology has evolved over the past six years, and various developers and companies are looking at ways to use this protocol for storing data, creating records, smart contracts and even proof of ownership. All that is needed to take things to the next level is the creation of a comprehensible platform to deliver this technology to the everyday person.

BitNation is a well-known name in the world of digital currency, as they are the world’s first virtual nation providing actual governance services. Several BitNation Ambassadors can be found around the world, and they are all very passionate about the project. In fact, the beta version of the BitNation platform [called BitNation Pangea] will launch this month, although an exact date has not been confirmed yet.

You may remember the BitNation name from events such as the world’s first Blockchain Marriage and the world’s first World Citizen ID on the blockchain.

“Bitnation is a revolutionary idea, an idea which we believe will radically change the world for the better. However, being the first in the world to challenge the nation state construct head-on through providing better services using blockchain technology, it is not always easy to implement. It’s a broad and bold vision. Hence, partnering with Horizon and the Blocknet provides a very solid foundation — they’re organizations we believe in and have the deepest respect for. They give us amazing technology and a group of wonderful individuals to work with. We have been working together for some time now, and I’ve always been struck by the professionalism of Horizon and the Blocknet – they’re very solid people, with clear and consistent values, and a high level of integrity.”

  • Susanne Tarkowski Tempelhof, BitNation CEO

Horizon is a digital currency project striving to bridge the gap between blockchain technology and the real world by using a reputation system. While blockchain technology offers a lot of options in regards to digital goods and assets changing hands, the story is a bit different for physical goods and assets. As a result, practical applicability remains an issue.

However, that problem will be sorted by the Horizon developers, as they weave blockchains into the non-digital world by using algorithmic reputation scoring. The main goal of this reputation system is to incentivize people to honor blockchain-based agreements, otherwise their reputation will take a big hit.

“The entire Horizon team has looked forward to working alongside the Bitnation team because they embody the spirit of the decentralization movement. The focus of both Horizon and Bitnation has been to develop decentralized and innovative technology that allows people to break away from conventional services, and cut the middleman out of the picture. While working together to accomplish these goals with some of the most committed and talented developers, and communities behind them, we look forward to strengthening our partnership and delivering the most disruptive, user friendly and decentralized products and services possible.”

  • Nick Cote, Horizon CEO

You also have to keep in mind there is a bridge between one blockchain and the next, as these chains are not designed to communicate with one another directly. This is where the BlockNet comes in, as their developers can network various blockchains together in order to avoid “blockchain bloat”. Furthermore, the BlockNet offers technology of one chain being delivered as a service of nodes on any other chain – effectively creating an “Internet of blockchains”.

“Bitnation is a groundbreaking concept, and we’re very excited to provide a platform for it to be developed upon. Horizon too is a powerful Blocknet-enabled project with the highest node count of all cryptocurrencies, except Bitcoin. We believe that the Blocknet, by enabling open ended inter-chain services, unlocks the full potential of blockchain-based technology. With Bitnation, Horizon, and the Blocknet working together, the potential is truly vast. The sky’s the limit.”

  • Arlyn Culwick, BlockNet Core Team

Source : Press Release via email

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