Crypto billionaire and Tron founder Justin Sun will take up his new role as Prime Minister of Liberland, also known as the Free Republic of Liberland. Liberland is a self-declared micronation located on the western bank of the Danube, 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 possible reason for Justin Sun’s election as Prime Minister is his expertise in blockchain technology and its alignment with the country’s current technological vision.
Liberland’s Bitcoin-powered blockchain economy
According to the reportLiberland is the first country in the world to adopt Bitcoin (BTC), the world’s largest cryptocurrency, as its official currency. While the government operates on a decentralized online platform and allows citizens to participate directly.
This micronation uses blockchain-based systems for their elections to maintain the transparency and accuracy of the voting process. A recent report quoted:
“Liberland is building a BTC-centric economy and is seeking collaboration with BTC-based payment infrastructure providers. We are establishing a state reserve fund in BTC, which will be open to investors during the pre-seed round.”
Why Justin Sun?
For this reason, the country prefers big crypto personalities like Justin Sun, who have the potential to make huge contributions to blockchain technology and projects that could benefit the country in the future. However, Sun is also known for his role as Grenada’s representative to the WTO, where he previously served.
Credit : coinpedia.org
