Private Cities Emerge — Is It A Sign Of Global Decentralization Coming?
Mysterious Norway as an area for experiments
Have you ever heard about Liberstad? If not, here is a summary: Liberstad is a recently launched experiment, a private city located in Norway. Liberstad is situated on 15 hectares of land purchased by investors in April 2017 and founded in June 2017, about 45 minutes from Kristiansand, Norway’s fifth largest city. According to the website of a first private city of Norway, the first 100 people who purchased the land of Liberstad come from 25 different countries, and 80% of sales were made using Bitcoin.
Private currency for a private city. What's next?
Liberstad has already signed an agreement with City Chain Labs blockchain company to introduce City Coin (CITY) to become its official currency. People will be able to use CITY to "pay for anything ranging from haircuts, a dozen local eggs or an artisan loaf of bread," as it is stated in the press release.Along with the fact that CITY would become the official currency of Liberstad, a partnership with City Chain Labs will boost the city’s voluntaristic ideas further — thanks to City Hub, a plug-in for applications or browsers on the blockchain. It will allow citizens to manage their identities, property, and automobiles, as well as "create city-wide initiatives or vote on existing ones." The voting system in the City Hub will be implemented in the Liberstad Incubator Program and “allow investors to vote on suggested applications to the incubator program.”
City Hub also has a function of wallets where citizens can receive passive income in the form of CITY. Everyone who works in the city even can get their salaries in tokens. Liberstad is supplied with 10 mln CITY; the city will also receive 200,000 CITY on a monthly basis. Also, the Liberstad Exchange has been created, where one can trade cryptocurrency.
So what’s the next step? The private city plans to allow the purchase of land with City Chain coin. It is entirely possible that the list of proposals will be updated regularly — the city is to be inhabited by initiative people.
Do private smart cities have a future?
If you think in a way like “Well, this is Norway, a highly developed country, they can experiment with anything,” then you would be surprised to learn that specific prototypes of private cities have long existed in the USA and even in India. The cities of Gurgaon and Jadshampur are an interesting example — the story in the New York Times presented it back in 2015, two years before the Liberstad was founded.
Image courtesy of Invest in Blockchain
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