Country invaded by Croatia launches two of its own cryptocurrencies

After invading Croatia at the end of September 2023, the country Liberland decided to launch two cryptocurrencies. The intention is to use the new currency for local government solutions.

However, the plans include the coexistence of the new currency with Bitcoin, a digital currency found in Liberland’s national treasury. In other words, the country will continue to use bitcoin as its official currency, but plans to use other digital currencies to issue blockchain services.

In any case, Liberland will still stick to its vision of a bitcoiner country, but the local government has not gone unpunished for criticism of its innovation.

New cryptocurrencies from a country invaded by Croatia arrive to help government services

Last Monday (2), the country Liberland presented its blockchain idea, which comes with a token. The Liberland Merit (LLM) is only sold through the country’s website and is not available from brokers for trading.

The Liberland Dollar (LLC) will be the currency used to conduct transactions on the native blockchain.

With the LLM token, people have access to a means of governance that represents their stake in the state and nationality of the libertarian country. According to a note from the local government, the new coin is inspired by Bitcoin.

“Liberland Blockchain is coming. The Liberland Merit (LLM) is the symbol of governance that represents a stake in the state and nationality of Liberland. Inspired by Bitcoin (BTC), LLM has a fixed maximum supply of 70 million tokens.”

Furthermore, the government has indicated that it is not a security token, which means that whoever buys it will not receive any income from it. This is because the LLM is a board currency that influences the country’s future decisions.

To prevent power concentration among token holders, a mechanism called PolitiPooling will be implemented after the launch of the blockchain itself.

The LLD will serve as protection for the new network launched by the country, which was recently invaded by Croatia.

“Bitcoin and the new Liberland token can coexist,” says the official government profile

Many bitcoin fans were disappointed to see Liberland launch its own token as it avoids using the currency as its main medium in the future. Some even suggested that the local government should abandon the idea, but they explained the situation in a response and stated that both can coexist.

“Liberland is a firm believer in BTC and owns the majority of BTC’s treasury. This blockchain is necessary for all other government functions and services as described. Both can coexist.”

With the advent of new currencies, even in times of controversy, Liberland could become the first country to be governed entirely by a token. However, the micronation is still trying to legitimize itself to its neighbors as it plans its peaceful future.

Source: Live Coins

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