Asgardia is a proposed nation based in outer space. The concept is aimed at creating a new framework for how space activities are regulated and owned, ensuring that the future of space is peaceful and done for the benefit of humankind.
The nation proposal was announced on October 12, 2016 by Igor Ashurbeyli, the founder of the Aerospace International Research Centre (Vienna), and Chairman of UNESCOs science of space committee. The initiatives website is currently requesting people to register for citizenship with the aim of applying to the United Nations for recognition as a state. The technical details remain vague.
The organization plans to crowd-source a satellite with an undisclosed payload and launch it in 2017. There are also currently competitions to create the states flag, insignia and national anthem. On 8th November 2016, a number of flag designs are put up for vote, although submissions are still possible.
The country will be governed by 12 ministries. These will be science; space; youth and education; integration; information and communication; foreign affairs; trade and commerce; finance; safety and security; justice; and a 12th ministry to be chosen suggested by Asgardias Facebook community. Acting ministers are to be appointed by Ashurbeyli until the first elections, which are planned for June 2017.
At midnight on October 31, 2016 UTC/GMT, registration on the website was put temporarily on hold, until further details were announced by Igor Ashurbeyli on November 12, 2016. All applications made after that point are put on a waiting list.

The essence of Asgardia is peace in space, and the prevention of Earths conflicts being transferred into space.

— Igor Ashurbeyli, founder of Asgardia
Projects web site - Asgardia
Source: https://en.wikipedia.org/wiki/Asgardia_(nation)