Liberstad is a city that many won’t have heard of, but it is one that has quietly been embarking on its very own revolution for over two years. Founded on June 1, 2017, in Vest Agder, South Norway as the result of an Indiegogo crowdsourcing campaign, Liberstad doesn’t yet exist in any meaningful capacity, but the founders hope that in the months and years ahead the place will be bustling with residents, living and working according to the libertarian principles of the community…and using the city’s cryptocurrency, City Coin (ticker=CITY), for everything.
Liberstad has declared City Coin (CITY) as the official currency.
All goods and services offered in Liberstad can from today be purchased with City Coin.#Crypto #cryptocurrency #blockchain #ancap #voluntaryism #privatecity #citychain #citycoin pic.twitter.com/sqceesuqyZ
— Liberstad (@liberstad) February 1, 2019
Stake for your Steak
Liberstad, an amalgamation of ‘liberty’ and ‘stad’, meaning ‘city’, aims to be one of an increasing number of ‘smart’ cities around the world – a city that incorporates many elements of technology in everyday life, from waste collection to energy, with the aim of enhancing the quality of life for residents. To this end, Liberstad will utilize a Smart City Platform on which all operations will run, with CITY used as the means of exchange that Liberstad residents will utilize to deliver its services. Everything from employee salaries to entrance to the skate rink (assuming there will be one, after all this is Norway) will be conducted in CITY tokens, with residents able to stake their CITY and earn more, acting very much like the city’s central bank. Non-residents can join in the fun too – anyone anywhere can download the City Hub wallet, buy CITY tokens and begin staking them, knowing that when they visit Liberstad they might be able to afford a beer or two on the house.
Liberstad has Company
Liberstad isn’t the only city with its own cryptocurrency. A rural farming town in South Africa called Orania announced in June that it was planning to launch its own cryptocurrency, the E-Ora, although the principles of Oriana couldn’t be further away from those of Liberstad – Orania is a white supremacist town whose residents are still pursuing the ideal of apartheid, which is about as far away from the ‘anyone’s welcome’ attitude of the Norwegian would-be city. Currently only one exchange, p2pb2b.io, sells CITY, with the price currently resting at around $0.05. However, like any cryptocurrency not pegged to a more stable asset, CITY has the potential to fluctuate wildly, especially when it has such low volume. This could likely spell problems when (or if) the city begins to take off further down the line, although it has the potential to net you a nice house with a scenic view if you play your cards right. Providing it gets built.