A company associated with a prominent Bitcoin investor played a role in drafting legislation designed to support a libertarian-style community in the Caribbean. The law aims to establish a “networked state” framework, granting significant executive authority to the development company overseeing the project.
Local critics have expressed concerns about the legislation, arguing that it concentrates power in the hands of the developer and may undermine traditional governance structures.
**Why this matters**
This legislation represents an innovative approach to governance, blending blockchain principles with local development. However, the concentration of decision-making power raises questions about accountability and the balance between private interests and public oversight in emerging economic zones.
Source: NewsData