One thing we’ve been keeping an eye on with ethereum price analysis is the Initial Coin Offering asset charts. ICO value tell you a lot about how successful ethereum has become over the cryptocurrency’s rival, bitcoin.
What’s worth mentioning is that 3/4 of all ICO assets now go into an ethereum platform. Many ethereum price analysis experts predict all ICO’s will soon become associated entirely with ethereum.
This is newsworthy on its own. However, talk has just begun about an ethereum-based ICO called Bitnation that’s going to help speed up blockchain usage on a world scale.
When Does Bitnation Release This Year?
You’re starting to see a lot of startup ICO’s become a major trend after being only niche for a number of years. This summer, two major ICO’s are going to release, and Bitnation is one generating the most buzz.
Reportedly, the above currency releases this July with a major goal behind it. The founders are somewhat of crypto-anarchists who believe in creating virtual governments over states. They want to create decentralized public services and allow the world to do safe transactions without obstructions.
As co-founder Tori Lane explains in International Business Times:
“Bitnation allows any person in the world to become a self-sovereign ‘World Citizen’ on the blockchain cheaply, quickly and securely, with the Bitnation World Citizenship ID.”
Using Bitnation for Smart Contracts
A smart contract allows the ability to do a normal business contract digitally with more privacy and equal transparency. Ethereum price analysis shows ethereum being the major building blocks of smart contracts lately. When Bitnation goes live, they plan to build on this further.
The cryptocurrency being developed goes by the name Pangea Arbitration Token, or PAT for short. Used as an in-app token, it’s designed to provide a proof-of-reputation for digital citizens, including enabling smart contracts in or among other countries.
While it’s still up in the air on what the value of this could become, it’s using ethereum to help change the world in how financial transactions occur. It’s basically allowing people to take action on their own and funnel money into places where it’s needed without worry about slowdowns from protracted intermediaries.