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RMI Announces Blockchain Expert to Assist with Issuance of SOV

RMI Announces Blockchain Expert to Assist with Issuance of SOV

MAJURO, Marshall Islands–(BUSINESS WIRE)–The Republic of the Marshall Islands today announced that blockchain
expert Steve Tendon is advising and assisting the country with the
drafting, design, and issuance of SOV,
the digital legal tender of the Marshall Islands, and the economy
spawning around it.

“With Steve working alongside Neema, we are growing closer every day to
support the Marshall Islands with issuing the first digital legal tender
and launching a financial services economy around it,” Chief Economist
for SOV, Dr. Peter Dittus said. Dr. Dittus is the former Secretary
General of the Bank for International Settlements (BIS).

The Marshall Islands is working to issue its own digital currency in
order to address the environmental and financial challenges they face as
a small and vulnerable island economy in the Pacific. By opening their
islands to the entire blockchain economy, the Marshall Islands plans to
become a crypto-financial powerhouse, connecting blockchain with
mainstream banking services.

“Steve is one of the foremost experts in blockchain technology and
regulations,” Dr. Dittus said. “Steve will assist with the drafting and
designing of regulations to develop a blockchain financial services
economy out of the Marshall Islands,” Dittus added.

The SOV is the world’s first decentralized digital currency to be legal
tender of a sovereign nation. Once issued the SOV will join the U.S.
dollar as the official money, or legal tender of the Republic of the
Marshall Islands (RMI).

Based on blockchain technology, the SOV is a decentralized digital
currency that allows fast and cheap global transactions while preventing
abuse by bad actors.

More on Steve Tendon:

Steve Tendon is the Managing Director of TameFlow
Consulting/ChainStrategies (https://chainstrategies.com),
a consulting firm that provides research, analysis, and strategy
development for businesses that need to adopt or transition to
blockchain technologies.

A senior executive management consultant, adviser, speaker, and author,
Steve’s research and consulting work focuses on the use of emerging
technologies — in particular blockchain technologies — to improve
business performance.

In 2016, Steve was the strategic adviser for the Ministry of Economy,
Investment and Small Business (MEIB) of the Maltese Government, and
developed the vision of the “Blockchain Island” and designed Malta’s
National Blockchain Strategy (unanimously approved by the Cabinet of
Ministers in April, 2017). Subsequently, he was appointed as the
Strategy Lead to Malta’s National Blockchain Task Force, advising the
Financial Services, Digital Economy and Innovation (FSDEI) Office of the
Prime Minister on implementing the country’s blockchain strategy.

Published at Thu, 10 Jan 2019 17:27:00 +0000