More than 800,000 people are hoping to move to a self-proclaimed crypto micronation called ‘Liberland’ that is on a patch of muddy floodplain along the Danube River.
The uninhabited seven-square-kilometre land on the border of Serbia and Croatia was founded by Czech libertarian politician Vit Jedlicka who claimed the territory in 2015.
There, Mr Jedlicka said he founded a new country with the aim of creating a libertarian state founded on the blockchain technology underpinning cryptocurrencies – or, as a haven for crypto billionaires.
According to the self-declared president, the small ‘nation’ has received 804,000 citizenship applications – enticed by the eradication of tax and government regulation. Its motto is: To Live and Let Live.
It comes as the UK faces an exodus in the tech sector after nearly 6,000 entrepreneurs fled the UK in the past two years, with many fleeing to destinations with more forgiving tax regimes, such as Dubai.
The group of 30 tech billionaires are using blockchain – effectively a secure digital ledger – to construct the first decentralised autonomous government and also the world’s ‘freest country’.
The micronation of around 1,200 citizens has its own official language of ‘Liberlandish’, will be holding a congressional election later this month, has its own passports as well as its own navy, known as the ‘Liberty’.
Meanwhile, its ‘administration’ has appointed three ‘legal professionals’ to form a Supreme Court to oversee applications. It added an app will soon be used to fast track applications from those without a criminal record.