"A big idea to emerge with the digital economy is the "network state". Popularised in a book by former Coinbase chief technology officer Balaji Srinivasan, it posits that modern technology makes it possible to create virtual countries based on electronically connected humans, superior to traditional ones based on geography. On Friday, would-be virtual citizens gathered in Singapore (and online) for the third Network State Conference, bringing together those "interested in founding, funding and finding new communities"."
"The speaker who came closest to bridging the gap between network state fantasies and the real world was Noah Smith, of the Noahpinion blog. Pointing out two main theoretical problems with network states - they would struggle to provide public goods, from parks to defence, or to coexist alongside physical states - he proposed a joined-up system of "network cities", each ringfenced inside a traditional physical nation state."
"Smith envisages a sort of 2.0 version of the Hanseatic League - a loose but powerful medieval network of trading cities - with echoes of when Hong Kong was (briefly) a freer, market-oriented system-within-a-system after its return to Chinese rule. Rather than wishing away existing countries, Smith argues that a more practical approach for startup nation founders would be to encourage every country to host an independent network city, where digital nomads could gather to experiment with different ways of living and self-government."
Modern technology enables proposals for 'network states'—virtual countries of electronically connected people claiming superiority over geography-based nations. Advocates, largely crypto enthusiasts, convened in Singapore to explore founding and funding such communities and themes like competitive government, digital nomadism and legalising innovation. Major figures in cryptocurrency and venture capital participated. Two key theoretical problems are providing public goods and coexisting with physical states. A practical alternative proposes 'network cities' ringfenced inside existing nations as experimental zones for digital nomads and new governance models, inspired by the Hanseatic League and Hong Kong's freer system; for-profit Próspera's troubles illustrate real-world difficulty.
Read at The Observer
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