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The plan of the Marshall Islands to issue a sovereign cryptocurrency, dubbed the "Sovereign" (SOV), seems to be progressing, with the ocean nation announcing that it will work alongside Steve Tendon, a former adviser to the Maltese Prime Minister's Office on of blockchain, in the development of virtual currency.
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The Sovereign Cryptomurrency group of the Marshall Islands revises the strategy for 2019
<img class = "alignright size-medium wp-image-275232″ title=”Marshall Islands updates the 2019 roadmap for the sovereign cryptocurrency” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1071291464-1-300×201.jpg” alt=”Marshall Islands Updates 2019 Roadmap for Sovereign Cryptocurrency "width =" 300 "height =" 201 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1071291464-1-300×201.jpg 300w , https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1071291464-1-768×515.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2019/01/ shutterstock_1071291464-1-696×466.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1071291464-1-627×420.jpg 627w, https://news.bitcoin.com/wp- content / upload / 2019/01 / shutterstock_1071291464-1.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>The team working to launch Malta's early national cryptocurrency has published two documents that try to articulate the project roadmap for the new year.
Regarding the ongoing cryptocurrency bear trend, the SOV team states that it is shifting its strategy from "attracting standard investors" to "forging partnerships with powerful allies who are interested in seeing that sovereign cryptic money succeed".
Further elaborating, the team expects sovereign countries to "play an important role in the future of cryptographic markets", adding that "the blockchain that facilitates the first sovereign encrypted money will be well positioned to reach market dominance". As such, the SOV team will try to establish partnerships with "a handful of those powerful and well-capitalized blockchain platforms" to "provide a solid foundation for a coalition around the Marshall Islands". The team also tried to reaffirm its commitment to launch the SOV in 2019.
Marshall Islands work with Steve Tendon to launch SOV
<img class = "alignright size-medium wp-image-275240″ title=”Marshall Islands updates the 2019 roadmap for the sovereign cryptocurrency” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_724967377-300×150.jpg” alt=”Marshall Islands Updates 2019 Roadmap for Sovereign Cryptocurrency "width =" 300 "height =" 150 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_724967377-300×150.jpg 300w, https : //news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_724967377-768×384.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_724967377-696×348. jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_724967377-840×420.jpg 840w, https://news.bitcoin.com/wp-content/uploads/2019/01/ shutterstock_724967377.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>In an article recently published by the SOV's official Medium Account, the project announced that it would collaborate with Steve Tendon to develop and launch the Sovereign. Tendon is the CEO of the consulting firms Chainstrategies and Tameflow Consulting and is the former strategic advisor to the Ministry of Economy of Malta.
While working with the Ministry of Economics, Tendon was credited with developing the Blockchain Island strategy in Malta and the National Blockchain Strategy. Subsequently, Tendon was appointed Head of Strategy at the National Blockchain Task Force in Malta, where he advised Financial Services, Digital Economy and Innovation of the Prime Minister in the implementation of technology policy. of the distributed ledger.
To recognize its services, Tendon was awarded the "Exceptional Contribution to Blockchain Island" by Malta Blockchain in 2018.
Marshall Islands tries to become the Cayman Islands of Crypto
<img class = "alignright size-medium wp-image-275247″ title=”Marshall Islands updates the 2019 roadmap for the sovereign cryptocurrency” src=”https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1033893571-1-300×175.jpg” alt=”Marshall Islands Updates 2019 Roadmap for Sovereign Cryptocurrency "width =" 300 "height =" 175 "srcset =" https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1033893571-1-300×175.jpg 300w , https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1033893571-1-768×448.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2019/01/ shutterstock_1033893571-1-696×406.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2019/01/shutterstock_1033893571-1-720×420.jpg 720w, https://news.bitcoin.com/wp- content / upload / 2019/01 / shutterstock_1033893571-1.jpg 1000w "sizes =" (maximum width: 300px) 100vw, 300px”/>According to the team, the developers of the project "imagine that the Marshall Islands evolve in a similar way to the Cayman Islands", a territory that currently incorporates "75% of the world hedge funds" despite having a small population that is comparable to that of the Islands Marshall.
The SOV team claims to try to develop a similar economic "ecosystem" in the Marshall Islands, which they hope will "attract new and existing banks, exchanges and startups to operate physically and virtually from the Marshall Islands and grow a new industry there with a friendly regulatory framework and inviting, served with a native sovereign cryptocurrency ".
Do you think the Marshall Islands will be able to become the first nation to issue a sovereign cryptocurrency? Share your thoughts in the comments section below!
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