I don't see a concrete way for our blockchain or indeed any other blockchain to own land, and therefore "crowdfund territory" which is built into the most basic definition proposed by Mr. Srinivasan.

Yet, I've been thinking about something similar, especially in relation to Hive (more from a "What is Hive?" angle than from proposing a new theoretical concept), and I know many on others here are thinking about the same. So while I didn't coin the term and it's perhaps a slightly different idea, I and others here have been thinking about something you could call a "network state". More central to that idea is the ability to function with collective self governance, being able to fund the basic functions of a state, as well as self sovereignty. If a blockchain network would ever be able to own land (and I'm skeptical that will ever be realistic), that would be a later development on something that is already effectively functioning as something that could be called a "network state".

Recently I have been thinking it's more likely that Hive (or something like it) will come to be intertwined with an existing state, or several of such. The more I think about rule of law as it relates to crypto, the more I think that highly functional crypto governance depends upon a rule of law culture just as much as a highly functional traditional state does. A crypto network is unlikely to obtain the legitimacy to rule over a geographic region, especially because the right to not participate in a crypto community is core to the value system of crypto. However, I think that a network like Hive could start to provide the functions of collective spending (such as public education, road maintenance and such), while it also provides funding to an existing but now minimalist state, which in turn helps to protect property rights which is necessary for good governance (crypto or otherwise) within a geographic area. In this dynamic, if the state started to become hostile to crypto/Hive/property rights, then Hive would stop providing support to it. A relationship somewhat like mitochondria in a cell - two pre-existing forms of life coming together and working as a single unit through a dynamic of mutual self interest.

Another related post of mine, where I tried to define Hivers in the format of a poem

As an aside, Srinivasan follows me on Twitter, but I've never seen him ever mention Hive, despite the fact that it does seem like it's closer to the idea he's been pursuing than anything else out there yet.