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The crypto bros who dream of crowdfunding a new country
BBC News
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9/20/2024
Do you look at the possibility of political turbulence ahead of November’s US presidential election and think: democracy could be in trouble? So does a group of tech entrepreneurs backed by big Silicon Valley money. And they love it.
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00:00
Do you look at the possibility of political turbulence ahead of November's US presidential
00:04
election and think, democracy could be in trouble? So does a group of tech entrepreneurs backed by
00:11
big Silicon Valley money. And they love it. Imagine if you could choose your citizenship
00:16
the same way you choose your gym membership. That's a vision of the not-too-distant future
00:22
put forward by Balaji Srinivasan. Balaji who, like Madonna, is mostly just known by his first
00:29
name is a rock star in the world of crypto. A serial tech entrepreneur and venture capitalist
00:35
who believes that pretty much everything governments currently do, tech can do better.
00:40
I watched Balaji outline his idea last autumn, at a vast conference hall on the outskirts of
00:46
Amsterdam. We start new companies like Google, we start new communities like Facebook, we start new
00:53
currencies like Bitcoin and Ethereum, can we start new countries? He asked, as he ambled on stage,
01:00
dressed in a slightly baggy grey suit and loose tie. He looked less like a rock star,
01:05
more like a middle manager in a corporate accounts department. But don't be fooled,
01:11
Balaji is a former partner at the giant Silicon Valley venture capital firm Andreessen Horowitz.
01:17
He has backers with deep pockets.
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