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Author Topic: Marshall Island will be using crypto as its legal tender  (Read 103 times)
kimmy724
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March 04, 2018, 02:00:05 AM
 #1

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

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March 04, 2018, 06:36:04 AM
 #2

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

https://www.reuters.com/article/us-crypto-currencies-marshall-islands/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD

This will help to spread crypto popularity but it is just a fiat-based crypto which requires users to identify themselves, so I don't think many people on this forum will be buying it.

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March 04, 2018, 11:54:54 AM
 #3



This can be opening the same path of opportunity for other small island countries to also introduce their own national cryptocurrencies which can partly replace their traditional fiat money in circulation. All I am wishing is that they will integrate their government-backed cryptocurrency to Bitcoin and other coins already in the market. The success here in Marshall Island can be a model for other nations to follow. Good luck to them!

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March 04, 2018, 12:17:05 PM
 #4



This can be opening the same path of opportunity for other small island countries to also introduce their own national cryptocurrencies which can partly replace their traditional fiat money in circulation. All I am wishing is that they will integrate their government-backed cryptocurrency to Bitcoin and other coins already in the market. The success here in Marshall Island can be a model for other nations to follow. Good luck to them!
This is a historic moment for the Marshall Island Government, because the Marshall government has finally issued and used its own crypto along with the dollar, this is another step towards realizing the freedom of the Marshall community

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March 04, 2018, 12:53:51 PM
 #5

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

A great move for a Government of Marshall Island to adopt this kind of technology so they can help its people increase the quality of their life that can help also their economy to grow. Although this is just a small action I still believe that this is a great start of a great future.

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March 04, 2018, 02:37:06 PM
 #6

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.
“This is a historic moment for our people, finally issuing and using our own currency, alongside the USD. It is another step of manifesting our national liberty,” said R.M.I. President Hilda C. Heine in a media release. (Source: https://futurism.com/marshall-islands-crypto-official-currency/ )

The words of the President make it very clear that how positive and proud of his decision. And franly saying this kind of decision is really gonna act as a game changer im the history of this place. Kudos to the government for such an amazing decision!

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March 04, 2018, 06:40:23 PM
 #7

Its good to hear that and happy to know that even small places are trying to adopt cryptocurrency technology which can help them move ahead. I hope many more countries will finally support this thing so they can also experience a great blockchain tecgnology.

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March 04, 2018, 06:47:24 PM
 #8

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.
Despite of the fact that they are a pretty small country it will be interesting to see how their economy will work on a cryptocurrency. As the crypto will be of the government. I think there might not be that kind of a anonymity in it but there still will be huge price increases in the country moreover it will be interesting to see how they regulate the money supply in their country.


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March 04, 2018, 06:53:32 PM
Merited by mrcash02 (1)
 #9

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.
Despite of the fact that they are a pretty small country it will be interesting to see how their economy will work on a cryptocurrency. As the crypto will be of the government. I think there might not be that kind of a anonymity in it but there still will be huge price increases in the country moreover it will be interesting to see how they regulate the money supply in their country.
I can confidently say that this idea is doomed to failure. It is impossible to create an unregulated economy in the country. If the cryptocurrency of this state is monopolistically created by the government, it will be an electronic Fiat. The main difference between cryptocurrencies and Fiat is decentralization.


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March 04, 2018, 07:27:47 PM
 #10

Marshall Island will become dream island for crypto lovers!
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March 04, 2018, 07:28:22 PM
 #11

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

https://www.reuters.com/article/us-crypto-currencies-marshall-islands/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD

This will help to spread crypto popularity but it is just a fiat-based crypto which requires users to identify themselves, so I don't think many people on this forum will be buying it.
It is a great move to have the country use its own currency, it definitely will give them a sense of pride and parliament has already approved to make it legal tender which looks like all is going as planned but will this project be open to every one of us or this will be strictly open to the Marshall Islands’ 24 municipalities  Huh

Wishing the Marshall Islands the best and hope they have a successful ICO to show other countries that cryptocurrencies are the future.


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March 04, 2018, 08:03:16 PM
 #12

Marshall Island will become dream island for crypto lovers!

Well I hope it will continue, considering cryptocurrency as a legal tender is not that easy. This is a good decision for the Marshall Island to adopt cryptocurrency and hope many countries will follow and do the same thing.

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March 04, 2018, 08:11:12 PM
 #13

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

https://www.reuters.com/article/us-crypto-currencies-marshall-islands/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD

This will help to spread crypto popularity but it is just a fiat-based crypto which requires users to identify themselves, so I don't think many people on this forum will be buying it.

It's true, why would people invest in a Crypto-Currency's ICO that is centralized by a country's government? And I think not only on this forum, but in general.

And that one of the goals is: "to solve the anonymity problem that has plagued bitcoin and precluded its mainstream adoption".

They would have more success by adopting Bitcoin and using USD simultaneously. I believe a local Crypto-Currency like that won't have much impact, between this and virtual Dollar transactions there isn't difference and Dollar is stronger, better.

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March 05, 2018, 12:04:17 AM
 #14

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

https://www.reuters.com/article/us-crypto-currencies-marshall-islands/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD

This will help to spread crypto popularity but it is just a fiat-based crypto which requires users to identify themselves, so I don't think many people on this forum will be buying it.
If the users anonymity will be useless then i think most people will not really going to buy it since it requires their personal information. Bitcoin was designed to be anonymous to every users transactions but if the people will like it that way it is up to them. Government may want this transparency due to most of the people's illegal actions.

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March 05, 2018, 12:49:19 AM
 #15

How can I complain in this one, at least this historical event can be an experimental opportunity for others to follow or not. We must support, even in not making negative feedback about it for now as it isn’t an easy decision that this government is taking. We should not pre-judge them and the future laws within the policy. It is our chance to prove how effective blockchain technology in one economy, technically.

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March 05, 2018, 05:00:58 AM
 #16

The main difference between cryptocurrencies and Fiat is decentralization.

That's arguable. Ripple is considered a cryptocurrency, and it's also centralized. There's Tether as well. What they all have in common is the cryptography aspect, which is where the term came from. I'd say centralization makes for a bad crypto, but it's crypto nonetheless.

Also, I don't think they're launching it to attract investors anyway; they don't have their own currency, and they want one. Their crypto is likely fully for utility purposes, which I support.

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March 05, 2018, 12:54:23 PM
 #17

Government of Marshall island is now gearing up for crypto currency as its legal tender. Currently using US Dollar as its main currency , it will be shifting to use cryptos and later this year will have an ICO for its national currency.

https://www.reuters.com/article/us-crypto-currencies-marshall-islands/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD

This will help to spread crypto popularity but it is just a fiat-based crypto which requires users to identify themselves, so I don't think many people on this forum will be buying it.

It's true, why would people invest in a Crypto-Currency's ICO that is centralized by a country's government? And I think not only on this forum, but in general.

And that one of the goals is: "to solve the anonymity problem that has plagued bitcoin and precluded its mainstream adoption".

They would have more success by adopting Bitcoin and using USD simultaneously. I believe a local Crypto-Currency like that won't have much impact, between this and virtual Dollar transactions there isn't difference and Dollar is stronger, better.

A fiat-based cryptocurrency would allow the government to have more control over it since crypto is generally decentralized. It may discouraging to have that kind of aspect because most prefer crypto for it's decentralization aspect. The anonymity of crypto is going to be a threat for the government and a comprise would be adopting it as fiat-based. That way, it would still be under their control. In a way, it's still going to be beneficial for those in Marshall Island because they would be able to utilize cryptos.

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March 05, 2018, 04:23:46 PM
 #18

I think its  a way of manifesting there national liberty and thats all there is to it.
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March 06, 2018, 10:03:22 AM
 #19

Great move. Another country will pick the fruit of crypto and help Bitcoin as well.
This is the true power of cryptocurrency.
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March 06, 2018, 06:00:20 PM
 #20

The popularity of the cryptocurrency does not give rest to anyone. I think that all States will try to use the popularity of cryptocurrency for their own purposes. But I do not believe in the success of such projects. The aim of States is to make us slaves. The purpose of bitcoin is to make us free.


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........... BY SPORTS
..............CASTRTM





[FORBES] Backed by Former NBA Commissioner
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══════════════════════════════DAVID STERN





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NOW LIVE!

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