Ir Sovereign ec (SOV) is the determinant of the island government's creation of a presidential decree and that the nation will travel with the US dollar as its official currency.
After the presidential decree was ratified, the US and the International Monetary Fund continued to oppose the pressure and a group of people in the parliament attempted to turn the US currency into the only national currency accepted in the country.
However, the project still continues. In order to ensure the fulfillment of the objectives, the government signed a contract with Mr. Steve Tendon, General Manager of TameFlow Consulting / ChainStrategies. The purpose of this contract is blockchain to utilize technical consultancy and development strategies to promote the use of technologies.
Marshall Island Trusts in Tendon's Successful Experience
According to a Press Release, former Secretary-General of the International Bank of International Settlements (BIS). Peter Dittus, Mr. Tendon's support can be very important for the Marshall Islands to achieve the official crypto target needed:
”With Steve working with Neema, we are growing every day to help support the Marshall Islands in releasing the first digital national currency and launching a financial services economy around it.“
Steve TendonHis involvement and experience were crucial for the Maltese government to become a blockchain island. In 2016, the Government of Malta was a strategic consultant to develop Malta's National Block Chain Strategy for the Ministry of Economy, Investment and Small Enterprises (MEIB). He then worked as a consultant for the Office of the Financial Services, Digital Economy and Innovation (FSDEI) Office on issues related to the implementation of the Blockchain Strategy in Malta.
The Marshall Islands government, aware of the results of Malta's experience, has given Tendon some critical responsibilities:
"Steve, Blockchain technology and one of the leading experts in regulations. It will help draft and design regulations to develop a blockchain financial services economy to Marshall Islands. O
Source: ethereumworldnews