/ Ultima / 2019/01 / Marshall-isole-dice-blockchain-experts-is-advice-national-crypto-issue /
Steve Tendon, a Blockchain expert, is providing advice and assistance to the Republic of the Marshall Islands (RMI) on the issue of Sovereign cryptocurrency (SOV) for the Pacific nation, according to a press release.
The MRI officials intend to launch the SOV as "legal tender currency of the islands for all debts, public burdens, taxes and fees". The cryptocurrency would join the US dollar as the official currency for the RMI.
The chief economist of the SOV, the dott. Peter Dittus, indicated that Tendon would assist "with drafting and planning regulations to develop a blockchain economy of financial services outside the Marshall Islands".
Currently, Tendon is the CEO of TameFlow Consulting / ChainStrategies, a company that offers strategic research and development to entities wishing to adopt or switch to the blockchain.
An expert national blockchain strategist
The press release found that Tendon was appointed Strategic Lead to the National Blockchain Task Force of Malta. He was instructed to advise officials on the implementation of the country's blockchain strategy.
Government officials in Malta have reiterated their pride at the start of the month of being a pioneer for the broader cryptocurrency industry. The management said the government would work on initiatives to give more peace of mind and protection to encryption, rejecting the comments of opposition leader Adrian Delia.
According to the Independent, Delia said the government remained silent while the bitcoin price slid down, despite being self-proclaimed "the Bitcoin island".
Tendon was also a strategic advisor to the Ministry of Economics, Investment and Small Businesses of the Government of Malta in 2016.
Political turbulence in the Marshall Islands Over The Sovereign
Efforts to bring the SOV into reality have been addressed by harsh criticism. In November, CryptoGlobe covered the political developments surrounding President Hilda Heine and her drive to launch the SOV. Eight members of the presumed national senate, President Heine, have harmed their national reputation by supporting the SOV and have put it to a vote of no confidence.
President Heine managed to overcome the storm, surviving the vote of no confidence with just one vote. After the decision, Finance Minister Brenson Wase said that the RMI would continue the SOV launch plans.
The nation's cryptocurrency plan also attracted the attention of the International Monetary Fund (IMF), which advised the Pacific nation not to go ahead with the launch of the Sovereign.
According to the International Monetary Fund, the use of cryptocurrency as a second form of legal tender would be problematic because "it would increase the risks of macroeconomic and financial integrity and increase the risk of losing the last corresponding banking relationship in US dollars".