Bitnation's June 8 Pangea Upgrade: XPAT Compatibility
At the center of Bitnation’s vision for decentralized, peer-to-peer governance is its Pangea smartphone app. Prior to the phase 2 token sale which completed on April 25 the Pangea app was released to the Google Play Store and on iOS Test Flight with basic functionality that allowed users to hold ETH in the app's Ethereum wallet, create and join Nations and chat with other Citizens. Using this iteration of the app Bitnation Citizens have thus far created over 150 different Nations.
Since the culmination of the phase 2 token sale Bitnation’s team has been busy distributing its XPAT token far and wide in preparation for the next major upgrade to the Pangea app scheduled for June 8. One key addition to the app in the coming upgrade will be XPAT compatibility.
The XPAT Token
The XPAT token is the essence of what powers Bitnation's reputation system. As Pangea users engage in and successfully complete contracts with other users they accrue non-tradable reputation tokens (Proof of Agreement, Proof of Nomic, and Proof of Collective). As these non-tradable reputation tokens are accrued, Bitnation's "Lucy" A.I. entity will award XPAT tokens which can be transferred outside of Pangea and exchanged for other cryptocurrencies like bitcoin and ether in the broader cryptocurrency ecosystem.
This mechanism provides a means of monetizing Bitnation's reputation system while obstructing users from selling or transferring their accrued reputation. Aside from its ability to be exchanged for other cryptocurrencies, XPAT can also be used among other cryptocurrencies to pay for services within Nations on the Pangea platform.
This system allows a Citizen to earn an income from his or her contribution to his or her Nation's economic and governance model as quantified and qualified by other Citizens with whom that Citizen has completed transactions as well as by Lucy. This sort of reputation system is going to redefine what we consider to be money by shifting the concept of money and financial exchange away from something arbitrarily defined by Nation States' central banks and towards a representation of tangible contributions to communities around the globe.
XPAT Distribution Into Pilot Use Cases
With the addition of XPAT compatibility to the Pangea app, the Bitnation team and its ambassador network will be able to expedite the adoption of Pangea in communities worldwide.
Bitnation ambassadors have been holding meetups in their respective communities for many months already in an effort to prepare people for Pangea adoption. Bitnation ambassadors will now be able to distribute nominal amounts of XPAT tokens to attendees at Bitnation meetups as a means of achieving widespread distribution and of demonstrating how people can begin to build Nations and execute transactions and contracts between Citizens.
The Bitnation team is working on organizing a "Nation Incubator" program. This program will establish direct communication between our engineering team and our end users to ensure that we are building Pangea to meet the specific needs of our users. The incubated Nations will receive assistance in developing decentralized applications to meet their needs as well as a quantity of XPAT tokens to begin using the app. This program will be explained in greater detail in a future post.
The addition of XPAT compatibility to the Pangea app and the aforementioned means of distribution into use case scenarios are essential and exciting milestones in the evolution of Bitnation's Pangea app as Bitnation and our Citizens continue to work towards the ultimate vision for a world of voluntary, peer-to-peer Nations co-creating their world, their way.