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Jan 12, 2019 04: 19 & nbspUTC
| updated:
Jan 12, 2019 at 04: 19 & nbspUTC
The Republic of Marshall Islands is working with Blockchain expert. Steve Tendon has been advising and assisting the Pacific island nation in issuing its Sovereign (SOV) currency.
The US Dollar, the SOV will be launched with the intention to serve as a legal tender for the debts, public charges, taxes and dues. "According to Dr. Peter Dittus, SOV's Chief Economist, Peter Tendon would be assisting the government "with the drafting and designing of regulations to develop a Blockchain financial services economy out of the Marshall Islands."
Steve Tendon currently holds the position of the Managing Director of Malta-based Blockchain company TameFlow Consulting / ChainStrategies. Blockchain technology into their systems. The company offers services and consultancy to businesses and companies.
The Task Force of Malta – a country that is famously tolerant towards cryptocurrencies Tendon has an in-depth knowledge of the technology and the industry around it . He was appointed to implement the country's Blockchain strategies. Additionally, he also served as the strategic advisor for the Malta government's Ministry of Economy, Investment and Small Business in 2016.
Government officials in Malta reiterated their pride earlier in the month about being a trailblazer for the wider cryptocurrency industry. Leadership by Adrian Delia.
However, Malta has opposition to the ruling party's actions as it was supposedly "silent" when Bitcoin's price was in freefall last year.
RMI's efforts to make the SOV a reality has hit some bumps, however. In November of last year, President Hilda Heine was supposedly "harmed" the national reputation of the country.
By The President, however, survived the vote very narrowly by winning the no-confidence motion by one vote. Despite the setback, Finance Minister Brenson said that the RMI would follow through with its plan to launch the SOV.
However, the IMF has not been too keen to support national cryptocurrencies, advising the Pacific island to not move forward with its plans, because it has been using a cryptocurrency as a second form of legal tender the increase in the US dollar correspondent banking relationship.
Debarun Gupta
Debarun is currently pursuing a Bachelor's Degree in Economics and writing when he is not watching the videos on YouTube.
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