Innovative project Joseon pioneers concept of blockchain-based state inspired by medieval Korean dynasty
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Joseon is among the most eccentric attempts to build a fair, inclusive and transparent nation-state on blockchain-powered digital rails. It positioned itself as the successor to the Korean monarchy from the 14th century.
Joseon fuels concept of digital nation-state with blockchain, here’s how
Introduced in 2023, Joseon is the first-ever legally recognized cyber nation-state, fully operational on distributed ledger technology, and an unmatched experiment in the segment of digital governance.
This all-encompassing integration of blockchain demonstrates Joseon’s commitment to using technology for the greater good of society and every member for the long haul. For the entire Web3 segment, it is an exemplary model of how blockchain can be utilized beyond economic transactions, offering a secure, transparent and equitable digital economy. This is future-focused governance, prioritizing the rights and well-being of digital citizens.
The nation’s approach to digital identity, governance and currency is poised to be a beacon for others in the crypto space, showing what’s possible when innovation meets practical application.
According to the Code of National Governance, the digital nation-state of Joseon recognizes all languages as its national languages and all religions as official ones. Per its statement, the country is operated by Direct Democracy Constitutional Monarchy, an eccentric hybrid form of rule:
Joseon is the non-territorial successor state to the Joseon Empire which was founded in 1392 (…) Religion: All, as per freedom of religion, as promulgated in Chapter II #2 of the Code of National Governance; Government: Direct Democratic Constitutional Monarchy.
Since its launch, Joseon has managed to gain official recognition by Antigua and Barbuda, a U.N. member state. The two countries agreed on bilateral investment, cultural, sports and scientific programs, as well as on investment initiatives of various types. At the same time, Joseon makes no claim to any territory on the Korean Peninsula and seeks friendly relations with those who now live in and govern dominions once considered to be under the imperium of the Joseon Empire.
The legal design of Joseon reveals a unique institutional architecture. It is a realm not bound by geographical demarcations but by digital dominions. The essence of sovereignty here is not tethered to land – as nation-states traditionally are – but sprawls across cyberspace, a concept that is as intriguing as it is revolutionary.
It also replaces the traditional concept of citizenship by denizenship, centered on a personal interest corporation called a “denizen”; it paves the way for synergy between physical and cyber identities, unlocking opportunities for a new social narrative where reputations are fungible.
This model offers a glimpse into a future where digital citizenship and financial operations transcend traditional boundaries, fostering a globally interconnected and efficient digital world.
Introducing Joseon ID, new-gen digital identification tool
At the heart of Joseon’s blockchain infrastructure is something truly groundbreaking: the Joseon Denizenship program and its robust digital ID system. This is not just an overhaul of the traditional identification methods; it is a complete reimagination. By integrating Joseon IDs into their KYC processes, leading cryptocurrency exchanges like Biconomy and LATOKEN are not just adapting to a new system – they are embracing a visionary concept.
This concept leverages cutting-edge technology to redefine digital identity for the blockchain era, setting unprecedented standards in security, transparency and efficiency. It is a game-changer due to the legal structure of Joseon Denizenship, especially for the millions who could be marginalized otherwise.
Joseon’s JSM token makes it to mainstream crypto exchanges
The project’s tokenomic design is centered on Joseon’s Mun (JSM), which is an official legal tender in the country. The integration of Joseon Mun across various exchanges is a significant milestone, but its true essence lies in its status as an unbannable cryptocurrency.
As a digital currency issued by a sovereign state, Joseon Mun is redefining the boundaries between state sovereignty and blockchain innovation. This unique position in the crypto marketplace underscores Joseon’s pioneering role in shaping the global cryptocurrency landscape.
Mun cryptocurrency is a backbone of its financial system and a pivotal element of its remittance and legal tender frameworks. Mun is a fiat-like “unbannable” currency that caters to a plethora of use cases.
As covered by U.Today previously, Joseon’s enthusiasts were invited to revolutionary token sale campaigns in Q4, 2023.
Also, in mid-October 2023, Joseon was promoted as a forgiving and flexible jurisdiction for cryptocurrency businesses from across the globe.
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