The Marshall Islands are, as their identify implies, a sequence of islands floating round within the Pacific Ocean. Well-known for his or her rip-off brokerages, shark sanctuary and US army nuclear bomb assessments, the small nation has additionally fallen beneath the blockchain highlight after it introduced again in February of 2018 that it could be launching a nationwide cryptocurrency.
Known as Sovereign (SOV), the cryptocurrency has but to be launched. When it does go dwell, nevertheless, the Marshall Islands is prone to grow to be the primary nation on the earth to have changed its fiat foreign money with cryptocurrency.
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And on Friday, the nation issued a press release, by way of SOV’s Medium running a blog account, saying that cryptocurrency and blockchain advisor Steve Tendon will probably be becoming a member of the nation’s efforts in direction of growing their very own cryptocurrency.
In response to SOV’s assertion, Tendon will probably be advising and aiding the Marshall Islands authorities with “the drafting, design, and issuance of their new cryptocurrency.”
From Malta to the Marshall Islands
Tendon, who seems to reside in Malta, is the Founder and President of the Blockchain Malta Affiliation. He additionally heads up ChainStrategies, a blockchain consultancy agency, and acts as Chief Know-how Officer for FinTech agency Anticipay.
It’s going to additionally not be the primary time that Tendon has labored in an advisory function to a authorities. From 2017 to 2018, he was a Strategic Advisor to Malta’s Prime Minister because the island nation’s authorities set about attracting blockchain corporations to its shores.
Nor will Tendon be the one notable adviser to the SOV venture. The venture’s Chief Economist is Peter Dittus who was previously Secretary Common of the Financial institution for Worldwide Settlements.
“Steve is among the foremost consultants in blockchain know-how and rules,” Dittus stated. “[He] will help with the drafting and designing of rules to develop a blockchain monetary providers economic system out of the Marshall Islands.”