ZoneBitcoin EditorialThe Marshall Islands decided to do without American dollars which was then the official currency in force on the island. Why will you tell me? Well, as the title suggests, for a cryptocurrency.
It was news that caused a sensation, but which was not understood by everyone, however. Although it is surprising at first, few people really understand the issue behind it.
The Marshall Islands has 1200 Pacific islands and around 80 inhabitants. It is the very first state in the world that decided to issue a cryptocurrency as a national currency. Yes, yes, I know, we will say that Venezuela's Petro remains the first state cryptocurrency. But, finally, this is different because the Petro has not been recognized by many States. Furthermore, the case of the Marshall Islands is really concrete and let's see right away why.
Marshall Islands launches physical cryptocurrency.
This may seem contradictory, of course. Bank notes and coins will remain, only they will not have as much value as virtual ones. You follow? In fact, it is through a very specific system that these new bank notes will be issued. There will be a kind of bank card, operating on the blockchain where all cryptocurrencies will be recorded. There will no longer be notes and coins but only smart cards working with NFC (contact payment).
This is the company Tango who will organize the entire configuration of these physical digital currencies.
The digital currency will be called the Sovereign (SOV) and will also be indexed to the US dollar as the official state currency.
In the idea; No more fraud, no more theft. All the advantages of cryptocurrencies will then finally be used.
It is not incompatible. The national currency will be digital. It will indeed be the first decentralized cryptocurrency in the world. It will also be the official currency of the Marshall Islands, as the US dollar was previously.
Let us remember that the goal of this whole maneuver is to free ourselves from dependence on dollars. Eh yes!
The Marshall Islands, the pioneer among a long waiting list?
That's what everyone says quietly. In any case, the Tangem company is delighted to have finally been able to try its first model. It is said that the Marshall Islands is the pioneer state and that the list of other countries is coming soon.
Moreover, it is indeed a global trend that States and leaders around the world are frankly interested in.
Thus, the population of the Marshall Islands, with these 70-80,000 inhabitants, will allow us to carry out the experiment that we are all waiting for (let's be honest).
Let's say this could be a good starting point for some African countries looking to find other alternatives to their currencies prone to inflation, as is the case ofArgentina for example.
