The post Justin Sun Becomes Prime Minister of World’s First Bitcoin-Driven Nation appeared first on Coinpedia Fintech News
Crypto billionaire and Tron founder Justin Sun is set to take on his new role as Prime Minister of Liberland, also known as the Free Republic of Liberland. Liberland is a self-declared micro-nation located on the western bank of the Danube River, between Croatia and Serbia.
Prime Minister Justin Sun
In addition to Justin Sun becoming Prime Minister, entrepreneur Evan Luthra and Journalist Jillian Godsil were also elected to Congress. According to the data, this micronation was founded on April 13, 2015, by Czech politician Vit Jedlicka.
However, the potential reason for electing Justin Sun as Prime Minister is his expertise in blockchain technology and its alignment with the country’s current technological vision.
Liberland’s Bitcoin-Driven Blockchain Economy
According to the report, Liberland is the first country in the world to adopt Bitcoin (BTC), the world’s biggest cryptocurrency, as its official currency. Whereas, the government operates on a decentralized online platform and allows the citizens to participate directly.
This micronation uses blockchain-based systems for their elections to maintain transparency and accuracy in the voting process. In a recent report, it was cited,
“Liberland is building a BTC-centric economy and seeks collaborations with BTC-based payment infrastructure providers. We are establishing a State Reserve Fund in BTC, open to investors during its pre-seed round.”
Why Justin Sun?
For this reason, the country prefers to have major crypto personalities like Justin Sun, who have the potential to make a huge contribution to blockchain technology and projects that could benefit the nation in the future. However, Sun is also known for his role as Grenada’s representative to the WTO, where he served earlier.
