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Liberland And The Marshall Islands Are Creating Their Own Cryptocurrencies

Liberland, a micronation inhabiting disputed land between Serbia and Croatia, was the first country to introduce plans of a national cryptocurrency in 2016.

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By Vaugh Hoisington | Liberland

In the wake of Venezuela’s initial coin offering (ICO) of the Petro, and Venezuelan President Nicolas Maduro’s latest announcement of plans to release a Petro gold token that would be backed by precious metals instead of oil, a lot more publicity has been given to the proposed cryptocurrencies of other countries.

Liberland, a micronation inhabiting disputed land between Serbia and Croatia, was the first country to introduce plans of a national cryptocurrency in 2016.

Albeit the Free Republic of Liberland has not released their security token, the merit, Liberland President Vít Jedlička recently attended Polycon18, “the world’s first crypto event dedicated to securities tokens,” to meet industry leaders and presumably talk to them about his nation and the merit. Liberland has also stated that it “will be the first country to launch its own security token.”

The official website states that donations to Liberland will be rewarded with their USD value in merits, as they are intended to be an award for those that assist the country.

Merits will begin issuance and distribution to donors on Liberland’s third anniversary, April 13.

The Marshall Islands passed the Sovereign Currency Act, in order to create their own cryptocurrency.

In a very different approach to the anonymity most cryptocurrencies embrace, the Marshall Islands opposes any obscurities and would require users to disclose their identity.

The Republic of the Marshall Islands’ plans to keep half of the 24 million SOV tokens, with the other half going to Neema, an Israeli company.

As an attempt to raise money for the islands’ budget, the Minister in Assistance to the President David Paul expressed that “ten percent of our proceeds from the ICO will be directed towards a Green Climate Fund, to help [the Marshall Islands] fight the effects of global warming, coming from the burn of fossil fuel by the large industrial nations, and hurting the small Island Nations the most.” Along with climate change efforts, revenues are also outlined for use to support “green energy, healthcare for those still affected by the US nuclear tests, and education.”

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