Virtual Nation States
From the Emerging Technologies Blog
by Kevin Coleman
UPDATED MAY 2020 - This blog will appear monthly from now on. Today, all organizations depend on technological innovation in order to sustain their existence. Analysis of emerging technologies and identification of those technologies with the greatest potential is essential to being prepared for upcoming projects. The objective of this blog is to establish future oriented technology analysis and insights. This blog was established to provide program and project managers with information about these emerging technologies. These emerging technologies have far reaching repercussions for program and project managers. This blog will jump-start the learning process and allow program and project managers to become proactive.
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The concept of a 'virtual nation state' has been around for a few years. The concept continued to evolve and believe it or not there are a couple of virtual nation-states in existance today. Just recently, there has been an increase in the number of people flocking to the "BITNATION " a virtual nation state that leverages cryptocurrencies and blockchain.
What happens when someone who is already a citizen living in the United States, Germany, France, Italy or any other country becomes a citizen of a virtual nation-state?
What happens when a business decides it's corporate headquarters is in a virtual nation-state and only transacts business in one or more cryptocurrency?
Would you do business with the virtual company residing in a virtual nation-state and transacting business in cryptocurrencies only?
So many unexplored possibilities that governments and organizations need to be looking at!
Posted on: March 16, 2018 05:59 PM |
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Comments (8)
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Rami Kaibni
Community Champion
Senior Projects Manager | Field & Marten Associates
New Westminster, British Columbia, Canada
That is very interesting ...... I guess we are somehow transferring to a BITNATION ....
Yes eventually most of us will be doing almost everything virtually.
Brian Martin
Chief Project Executive| CONFIDENTIAL
Ca, United States
Now it is really getting interesting
Thank you Kev for bringing an informative subject to light. It's really interesting.
Anish Abraham
Privacy Program Manager| University of Washington
Auburn, Wa, United States
Interesting concept, thanks for sharing.
Sujith Kattathara
Founder, CEO| FreelanceTeams Private Limited
Ernakulam, Kerala, India
Hi Kev
I am not knowledgeable about Virtual nation states, and this is the first that I have come across this phrase - so these are my uninformed thoughts.
I would go back to the definition of a Company - How does one incorporate a Virtual Company? Does any Virtual Nation exist, that offers the capability to incorporate a Company?
Obviously, a company can decide that it would only transact in selected cryptocurrencies. Its success would then depend on the extent of need that exists in the marketplace, for the services or products that the company provides, as well as the free availability of the selected cryptocurrencies amongst the potential users of the offered service/ product.
However, if the company is incorporated in a "real" nation, then it would need to abide by the country's rules & laws, pay taxes as applicable, etc, in the accepted currency of that country. If the Government permits otherwise, they stand to lose out on their expected income. Hence I believe that Governments cannot permit the emergence & successful establishment of virtual nation states.
I have read that the Dark Web deals almost exclusively in bitcoins. But this is to escape attention from the Government on both the currency being exchanged as well as the products & services being sold. Would this be an example of a Virtual Nation state?
Thoughts?
Kevin Coleman
Subject Matter Expert, Author, Speaker and Strategic Advisor| - Insights
Pa, United States
Answers
1. How does one incorporate a Virtual Company? YOU DON'T YOU MAKE YOUR OWN RULES. The Closest thing to a physical aspect is the server(s) the web site sits on and that location. If you look at the dark web it even gets cloudy to say the least.
2. Does any Virtual Nation exist, that offers the capability to incorporate a Company? -
Some immediately point to the group ANONYMOUS as nearly a virtual nation. It really does not fit my mental model thought.
3. However, if the company is incorporated in a "real" nation, then it would need to abide by the country's rules & laws, pay taxes as applicable, etc, in the accepted currency of that country. - Now you have the idea behind the virtual nation -potential power projection, freedom from regulation and laws of traditional countries and other physically constrained and governed areas.
4. Hence I believe that Governments cannot permit the emergence & successful establishment of virtual nation states. - They are way late now that cryptocurrencies add another layer of abstraction and anonymous (not the group/virtual nation) actions they often take to influence the physical world.
5. I have read that the Dark Web deals almost exclusively in bitcoins. - That has and is changing. There are several cryptocurrencies (SOME are exclusive to the Dark Web) in use on the dark web which has many transactions that are currently estimated to be in the tens of billions of USD value.
No definition is appropriate at this point do to the rapid evolution and development of virtual states and cryptocurrencies.
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