The ISO 3166-1 standard most of us use when making an application (see for example this related question) is useful, especially for the unification of country codes.
But some country names, for political and diplomatic reasons, are a little too verbose for the purpose of a practical application like Stack Overflow.
I think some names could be simplified, which would make the lists more readable. For example :
Bolivia, Plurinational State of => Bolivia
Holy See (Vatican City State) => Vatican
Taiwan, Province of China => Taiwan
We're already used to acronyms and other simplifications which let us communicate more easily when no ambiguity is possible.