A brand new country named Free Republic of Liberland has established in Europe. The new state will adopt Bitcoin, or another Bitcoin-based currency, as its national currency. The state was officially founded on April 13th, 2015.
The new state is located on an area of about 6 sq. km between Serbia and Croatia. The establishment of Liberland was announced by Vít Jedlička, member of Free Citizens Party (Czechia). He also became the first president of the republic.
“To live and let live” is the official motto of the new state. The state already has its own national flag, coat of arms, and official website and Wikipedia page.
“The preparatory committee granted powers to the president to inform the neighbouring countries, as well as UN and the rest of the world, of emergence of a new state via diplomatic notes. The objective of the founders of the new state is to build a country where honest people can prosper without being oppressed by governments making their lives unpleasant through the burden of unnecessary restrictions and taxes. Our ideals are Monaco, Liechtenstein and Hong Kong, Jedlička said.
The official acceptance of Bitcoin will not only allow the new country to avoid spending money on launching of state typography, but also will prevent a lot of funds being spent in designing and producing the banknotes and protection means. Moreover, in case Liberland succeeds, it could make a major contribution to the practical understanding of Bitcoin and blockchain technology,