Amidst a surge in efforts to build innovative libertarian societies, a new investment initiative, the Balaji Fund, has emerged, led by investor Balaji Srinivasan.
Backed by prominent figures like Coinbase CEO Brian Armstrong, AngelList co-founder Naval Ravikant, and venture capitalist Fred Wilson, the fund aims to create “Network States” envisioned as futuristic, tech-driven societies.
Srinivasan, a former Coinbase CTO, intends to seed invest in startup societies and network states, presenting the fund as a means for enthusiastic contributors to participate in this novel venture.
The notion of Network States has been an enduring ideological pursuit for Srinivasan, who has actively promoted the concept through talks, online publications, and conferences, notably advocating for a shift away from centralized states. He perceives Bitcoin as a catalyst for this transformation, envisioning its potential to undermine the control of traditional centralized systems.
“Bitcoin, if it wins, completely changes the world, because it changes the ability of centralized states to do what they’ve been doing,” Srinivisan said in a presentation delivered to a Bitcoin conference in Amsterdam in October.
In Srinivasan’s vision, the Bitcoin-based Network State would embody “internet values” such as openness and peer-to-peer collaboration.
While initially established online, the ultimate objective is to materialize these communities in physical spaces, potentially leading to the creation of new cities with experimental institutions managed by private entities.
