Project to Build the First Cryptocurrency-Based Country
Around 30 billionaires from the technology and cryptocurrency sectors are backing an ambitious project to create what its founders describe as a “microstate” based on cryptocurrencies and blockchain technology, aiming to transform an uninhabited plot of land on the Danube River, between Serbia and Croatia, into a new model of governance and administration.
The idea behind the “Free Republic of Liberland” is to establish the world’s first decentralized, blockchain-based government, alongside an economy built on voluntary taxation and digital currencies. According to its proponents, the project aims to found “the freest country in the world.”
Czech liberal politician Vit Jedlička founded Liberland in 2015, after declaring allegiance to a plot of land known as Gornja Siga, a swampy, uninhabited area located in a border zone disputed between Serbia and Croatia since the Balkan wars of the 1990s.
Jedlička’s vision involves minimizing the role of government, abolishing mandatory taxes, and relying on blockchain technology to manage state institutions, conduct voting, and make decisions.
The project has garnered support from a number of investors and cryptocurrency pioneers, including Justin Sun, founder of the Tron platform, who was elected Prime Minister of Liberland in elections conducted using blockchain technology in October 2024.
Although no country has officially recognized Liberland to date, project organizers state that it currently includes 200 registered companies and more than 1,262 registered citizens, in addition to approximately 804,000 applications for citizenship.
The project is funded through voluntary taxes paid in cryptocurrencies, which are used to finance the development and operation of the island, including a small naval force named “Liberty.”
Liberland also relies on two digital currencies: the Liberland Dollar, used for payments and network fees, and the Liberland Merit, used for voting and passing laws. Both can be purchased using Bitcoin.
To address the lack of services on the island, project organizers established a permanent base called “Ark Village” on the opposite bank of the river, featuring shared rooms, kitchens, and a meeting hall.
Investigative journalist Matt Shea visited the site for the documentary “The Tech Billionaire Takeover,” broadcast on BBC Two, where he met Vit Jedlička, whom supporters refer to as “the President.” Shea also toured a plot of land purchased by the project’s organizers, intended to host a specialized longevity clinic and a health resort.
Jedlička said, “I believe longevity tourism will be one of the most important economic activities, not just cryptocurrencies or artificial intelligence, which we already have in abundance.”
The documentary also featured 35-year-old billionaire Justin Sun, who was elected Prime Minister of Liberland in blockchain-based elections in October 2024.
Sun said, “Liberland represents a bold vision for the future, where innovation, sovereignty, and individual freedom are at the heart of society.”
