First they created new currencies, and now crypto bros have an even wilder ambition: to make new countries.
In today's "chaotic world" of "geopolitical clashes, wars and an increasingly digital economy", this "sounds more realistic than ever before", said Forbes.
"Here's how it would work", said the BBC. "Communities form – on the internet initially – around a set of shared interests or values. Then they acquire land, becoming physical 'countries' with their own laws."
The entities would "exist alongside existing nation states and, eventually, replace them altogether". This would allow people to choose their nationality, "like you choose your broadband provider", and "become a citizen of the franchised cyber statelet of your choice".
These new states would be "formed on the basis of shared ideas, interests and goals", and they "are not merely theoretical constructs", added Forbes. "They represent a practical reimagining of how communities can organise and govern themselves in the digital age."
The idea is being powered by a "cultish tech movement that ultimately seeks to end countries as we know them", said The New Republic, and "decentralise governance in the same way that crypto seeks to decentralise finance". The ambitious plan would see "typically cash-strapped countries cede land to tech bros who want to play a real-life version of SimCity".
Existing projects are "at different stages of development and still face unique challenges", said Forbes, but "their collective efforts signify a growing interest in redefining governance in the digital era".
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