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Norwegian Liberstad plans to use Bitcoin as primary currency

Bitcoin will become a main currency in Liberstad, a new libertarian settlement in southern Norway. This is reported by Bitcoin.com.

Norwegian Liberstad plans to use Bitcoin as primary currency

Bitcoin will become a main currency in Liberstad, a new libertarian settlement in southern Norway. This is reported by Bitcoin.com.

The objective of Liberstad is to create tax-free city for libertarians who respect the non-aggression principle and private property rights. The team seeks to establish a fully closed city where all land is privately owned and all public services are provided by private individuals on a voluntary basis.

The project’s organizers accept bitcoin along with Norwegian kroner, for land and plan to make it the city’s primary currency.

ʺOur long-term and overall goal is to one day make Liberstad an autonomous city-state with its own economy much like Hong Kong, Singapore or even Monaco, but without politics, taxes and politicians,ʺ the general manager of the company John Holmesland said.

Liberstad uses Bitpay for Bitcoin transactions. Companies, which want to accept Norwegian kroner as payment, will have to work in the Norwegian legal field and pay the relevant taxes.

There will be basic city services such as kindergartens, schools, hospitals, retirement homes, private security service, garbage collection, arbitrary courts, and insurance companies in Liberstad. According to Holmesland, “the services will be provided by companies that operate on the domestic market or are free from taxes and coercion to voluntary organizations”.

He also noted that his company had received more than 500 inquiries and 63 people had paid the deposit so far.

ʺThere are now 63 people who have reserved a total of 10,5 hectares of land in Liberstad. These are people who have paid the security deposit and signed the purchasing agreement. This leaves 4,5 hectares left that we need to sell before we can proceed with the purchase of the main property,ʺ Holmesland said.

Source: forklog.com

  • March 22, 2017 12:45 PM MSK
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