Marshall Islands Updates Sovereign (SOV) Crypto Strategy and Sets Sights on 2019 Launch
Cryptocurrency has thrived in the Marshall Islands owing to the relaxed nature of regulatory policies towards digital assets.
The nation is currently working towards creating its own digital currency known as “the Sovereign” (SOV) to take this field to the next level. One of the major crypto players brought on board for this project is Steve Tendon who is well reputable in both the crypto arena and a former Maltese blockchain advisor.
The 2019 Milestone Overview For The SOV Crypto Coin Development
As we begin the year, crypto and blockchain projects have taken up the obligation to provide roadmaps for their projects despite the bearish 2018. SOV team is among those that have so far indicated their direction in 2019; the team has already made two publications in regards to this.
One of the major moves the SOV team plans to make is a shift from targeting standard investors and instead form working collaborations with the big fish in crypto. SOV views this change as part of mitigating the effects of a volatile market since the larger allies will have an interest in the fundamental value and not rely on price action alone.
In addition, the team commented on the importance of various stakeholders for the success of SOV crypto coin. They noted that sovereign nations have a part to play for cryptocurrency markets to thrive in the coming days.
Furthermore, the blockchain network which supports the pioneer sovereign digital currency will have a first mover advantage within the industry. In this light, SOV plans to work with established blockchain networks to create an ecosystem that facilitates the transactions within the Marshall Islands.
The Steve Tendon Factor!
Marshall Islands SOV crypto coin will have the input of various experts before its speculated launch in 2019. According to a Medium post by SOV, the project will accommodate Steve Tendon to better their position.
Steve who currently manages Tameflow & Chainstrategies Consulting is expected to bring along his expertise and experience from advising the Maltese government on Blockchain tech matters.
Some of Steve’s notable achievements was leading the Maltese National Blockchain Task Force. While doing so, he was involved in advising the Ministry of Economy & Prime Ministers’ office on how best the digital ledgers could be integrated with the existing Financial Systems. Steve was able to create a “Blockchain Island” for Malta which later earned him an Award for the contributions made towards the innovation.
Marshall Island’s Vision; Becoming The Crypto Silicon Valley
This small island is looking to create an accommodating environment for crypto & blockchain oriented businesses. The SOV team developers are convinced that the current trajectories show a gradually evolving island that can match Cayman’s Hedge fund potential. Therefore, the nation is not worried about its population stats gave that Cayman island has almost similar figures yet host a good percentage of the world’s hedge funds.
In summary, the developers are focused on creating an ecosystem that is favorable for all types of financial service providers including cryptocurrency start-ups. The target market will be both virtual and physical businesses that will depend on the country’s SOV crypto coin.