Tron Founder Justin Sun Elected Prime Minister of Liberland
On October 6, Tron founder Justin Sun was elected Prime Minister of the micronation Liberland, following the results of a blockchain-based election. In addition to Sun, entrepreneur Evan Luthra, journalist Jillian Godsi, former Croatian politician Ivan Pernar, and computer scientist Dorian Stern Vukotić were elected to the nation’s Congress.
Reports indicate that Sun's election is largely due to his extensive background in blockchain, which aligns with the technological vision of Liberland. The election process itself was algorithmically driven and transparent, as confirmed by a spokesperson for the nation:
"The election process, governed by a simple rulebook, was fully algorithmic and provides transparency. This system uniquely addresses concerns over election results—an issue that still plagues many nations relying on traditional methods. We aim to set a groundbreaking example of what could soon become common practice."
What is Liberland?
Liberland, officially known as the Free Republic of Liberland, is a micronation founded by Czech politician and activist Vít Jedlička in 2015. Jedlička began a campaign claiming a piece of uninhabited floodplain on the Croatian side of the Danube River as Liberland’s territory. The nation was born out of an unresolved border dispute between Croatia and Serbia, which left a strip of land west of the Danube unclaimed.
In 2018, The Telegraph reported that half a million people had applied for Liberland citizenship, including 5,500 applicants from the UK. At the time, the micronation accepted Bitcoin, Ethereum, and Bitcoin Cash for its financial operations and donations. Jedlička stated that the nation remained debt-free with minimal operating costs, and saw no issue in holding digital currencies:
"I spent a few years of my life working as a financial market analyst, which gave me a pretty good understanding of the system we live in. I first discovered Bitcoin in 2010, but I wish I had paid more attention to it when it was cheaper."
Liberland’s Bitcoin Economy and Collaboration with Payment Providers
Liberland claims to have 1,000 citizens with minimal infrastructure. Currently, 99% of its reserves are held in Bitcoin. The nation is building a Bitcoin-centered economy, with a state reserve fund invested in the digital asset.
"Liberland is building a BTC-centric economy and aims to collaborate with BTC-based payment infrastructure providers. We are setting up a state reserve fund in BTC, which is open to investors during the pre-seed round."
This Bitcoin-focused strategy aligns with the long-term plans of El Salvador, which declared Bitcoin legal tender in 2021. El Salvador is currently building a "Bitcoin City," a tax-free crypto haven powered by geothermal energy from a nearby volcano.
At the time of writing, Bitcoin was trading at $60,789, marking a 0.4% decrease over the last 24 hours.
