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The impact of cryptocurrencies is no longer surprising as more and more people are investing in digital coins. At the same time, the appearance of Bitcoin in 2008 turned the whole world upside down. While a lot of people initially looked at the idea of cryptocurrency with suspicion, right now there are plenty of them who are investing in different types of coins and making money.
The emergence of cryptocurrencies has led to numerous ideas, including creating cities that are completely private and offer citizens a possibility to conduct payments via Bitcoin. One of such examples is Liberstad in Norway, which managed to attract the attention of numerous people around the world. As surprising as it may seem, considering the modern situation in the world, Liberstad can live up to the expectations of numerous residents and prove doubters wrong. Let’s have a closer look at Liberstad and how the decentralized city is actually like.
Liberstad – Paradise for Crypto Enthusiasts
A “private” city has emerged in southern Norway, supporting cryptocurrencies and attracting investors from all over the world. It is called Liberstad. The land here can be bought for cryptocurrency.
Liberstad City is a Capitalist Anarchy, where you can buy land with one of 27 supported cryptocurrencies. Liberstad is attracting more and more people from all over the world. According to the project website, 112 people have already received land in this city, and another 500 investors are on the waiting list, they are from 28 different countries.
The cost of land in Liberstad is about USD 9400 for 10 acres and USD 47,000 for 50 acres (5000 m2).
This project, as indicated on its official website, will become “a voluntary private company that offers protection of the quality of life, freedom and property”, and its organizers confirm that this is a commercial prototype, in which the components are already known and only offered to the market, which seems very attractive to investors.
John Holmsland and Sondre Biellas, the main proponents of the project, bought the farm for this purpose in the summer of 2017 and are posting the progress of the project on the website and on social media. The idea for Lieberstad is inspired by Atlantic Station, a fairly similar idea found in Atlanta, Georgia. The plans include the creation of a private police, fire brigade and water supply for the residents of this city, followed by other services.
The founders of Liberstad are only asking for private property rights. However, they may be in serious trouble as some Norwegian officials and politicians disagree with what they are proposing, and it is possible that court decisions may emerge later, implying, among the possible consequences, from fiscal sanctions to final closings.
The law is the law and you cannot act outside of it. The Labor Party member believes that the people of Liberstad are somehow dependent on the rest of society, so he argues that someone can come and settle there, but it is unrealistic to establish a “state within a state.”
However, Liberstad is not the only instance of such a concept. There are several examples in the world, one of them is the Free Republic of Liberland, located between Croatia and Serbia. Another example is the Seasteading Institute’s plan to create a floating city in the Pacific Ocean as a permanent autonomous settlement.
Ideas About Launching a Cryptocurrency
It is worth noting that until now the local crown and bitcoin were actively circulating in this city. Moreover, according to the full program: bitcoin pays not only for current purchases, but also for houses with land. For an allotment of 100 square meters, it is enough to pay 35 thousand Norwegian kroner (approximately $ 4000) or the equivalent in bitcoin.
Lieerstad is a unique project in itself, some call it an artificial city. Its founder is John Toralf Holmsland. All land in the city is privately owned and public services are provided by private individuals on a voluntary basis. There have already been 500 requests for the purchase of land in Liberstad and 120 have already booked plots.
With the launch of CITY, Holmsland said, all visitors to Liberstad will be using the city grid platform through a municipal app. The token will operate on the Smart City blockchain platform. It employs a Proof-of-Stake (PoS) consensus method that allows block validators to earn tokens for their work, although their selection is based on the current supply of tokens in their wallet.