The Marshall Islands goes crypto

[TimeTeller]

The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

They are not the first country that implements that, so far none of them had a good success but I want them to succeed so we will have a good model on how a country can properly implement this, anyway, they have a small number they can do it if the authorities can properly do it.

I believe the success rate for a very small community is high.
It's easy to manage such kind of community rather than a big one.
They need to start small, and they can easily alter the business model if it is not working on them.
I'm hoping that the government will not charge high taxes or if possible, no taxes at all.
Let's see on how far they will achieve success when they integrate crypto in their daily lives.

[hummer113]

In small steps there is a good trend, I hope that the cryptocurrency will become popular.

[Nisharawal]

The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

This is really a good news and I am really happy for the Marshall islands people who are really taking the cryptocurrency in a big positive manner. I think this type of moves will automatically create belief in common people and it will give them enough trust and belief on the Cryptocurrency market by which everyone will start taking some steps towards Cryptocurrency investments. I hope many countries will start thinking and take positive steps similar to the citizens of the Marshall Islands.

[Parodium]

Glad to see even very small countries opening up to cryptocurrency, I guess the old saying governments move slow isn't as apparent there as the governments are a lot smaller and hence the interconnectedness and flow of information is probably a lot better. I doubt it will fruitful as they are still a relatively unknown country probably just pulling off a publicity stunt, but it's nice to see in any case.

[sam53]

Seem like this is a good news for cryptocurrency world but this country need to be able to control their token as long as possible to be not taken advantages by crimes to commit guilty like money laundering or drugs trafficking . Seem like this country is trying to take the risk to make a big change in the whole world .

[chocopapaya]

Really interesting.
I've seen that the countries that have been the most interested in crypto have been developing or impoverished nations.
But, then again you have Russia and UAE who are crazy to become the world's crypto capitals.

Of course, I wish them the best of luck, but my impression is that it won't have much of an impact.
After all, if there are only 53,000 citizens, then your potential user base is incredibly small.
Most of these small countries use a stronger foreign currency or peg their currency to the us dollar.
I wonder if a situation will arise where the Sovereign will be pegged to Tether or something.
That would be crazy meta, a crypto tied to a crypto that is tied to the USD.

Of course in this case, Tether would be terrible because it actually isn't backed by usd at all...

[leviathon]

The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

Not surprised, soon even more will follow. The people who are looking to the future knows that there is no way that cash will survive for much longer, the future is cryptocurrencies, and the countries that are taking the lead now will be the ones with the strongest cryptos when the rest of the world finally catches up and starts to make use of cryptos.

[Razick]

Good news for cryptos when looking at it. With news like this coming out and people seeing that more and more governments are starting to accept cryptos, it will wake people to the fact that cryptos are here to stay, they can either get in with the moving train now or get left behind. This is really good news which will have nothing but positive impact on the market in the days to come.

[terible.hunter]

If this is really true, then this is very cool news, but now I can not believe it, because I do not understand how it is possible today if the SEC and similar organizations can not accept the many details that could allow it to be done.

[Buttonluck]

Great news. I wish good luck to this project. It is necessary to urge all developing countries to introduce in their countries. This will help increase the capitalization of the crypto market.

[CryptoGosu]

Good news. Already many countries are friendly towards crypto-currencies. When crypto-currencies are popular in all countries of the world, then Bitcoin will be able to become a means of payment.

[RistirP]

Its good! Already many countries are friendly to cryptocurrencies. In my opinion, they will soon launch their own coin.

[kevingreen]

The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

This and other informations are all clear evidence that cryptocurrency is gaining ground and that this technology has come to stay.

[doedz]

Maybe it's also there evenly for technology including fiber cable i = optics for the internet.
Given that the Marshal Islands are very far off the coast and that is also good news for cryptocurrency.

[Siren]

The small nation of about 53,000 people is located in the middle of the Pacific Ocean is quietly working on a project that could have a major impact on how cryptocurrency is treated by both investors and government actors .

The Marshall Islands is launching its own national cryptocurrency token named the Sovereign, or SOV, which will be legal tender for citizens and businesses on the island and worldwide.  To know more, join the SOV official Telegram group: https://t.me/officialsov

Source: https://thefreenewsman.com/the-marshall-islands-goes-crypto/518037/

With 53,000 population i might say this is not a big impact in crypto community since even if they use as legal tender but the place is tol far from civilization of being island

But lets be hopeful that this would bring to their economy good effect and not like Venezuela,instead its better to be like japan in which they are using bitcoin as legal tender considering that Yen is a good currency