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Marshall Islands: pre-sale of the Sovereign

The Marshall Islands want to keep their projects. The national crypto-currency Sovereign, in short SOV, to go to the next step in the pre-sale. Why this step is

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Marshall Islands: pre-sale of the Sovereign

The Marshall Islands want to keep their projects. The national crypto-currency Sovereign, in short SOV, to go to the next step in the pre-sale. Why this step is necessary, said David Paul at the Convention, will Invest: Asia.

Max Halder
16. September 2019BTC$10.155,32 -1.19%part Facebook Twitter LinkedIn xing mail

In the Marshall Islands is already for at least one and a half years, the talk of a national crypto-currency. In Oceania, located island state, has taken the FinTech Pray from Barbados as a consultant on the side. Together, they pursue the Plan, the Marshallese Sovereign (SOV) to introduce. Despite the headwinds, the IMF, and a vote of no confidence against the acting President Hilda Heine, the state maintains with its 50,000 inhabitants to his Plan. On the Invest: Asia underlined Minister, David Paul, now the thought approach and announced a pre-sale of the tokens.

For us, is really the reputation and integrity of our country is at stake. We will have only one attempt [...]. It [the land own crypto-currency project] has to be transparent. It must be inclusive. We need to be with the regulatory authorities, not that we start the project and it's: "you have not done this. You should have to make!“,

said David Paul.

A safer intermediate step

Regardless of the place of origin could be on the new Homepage of the SOV Development Foundation set for the pre-sale register. Bought a so-called Timed Release Monetary Issuance (TRMI), the 1 could be there, soon-to-be 1 in SOV exchanged can be, as soon as the SOV goes live. Between six and 24 months to take. What it's about in this intermediate step, says Paul, follow these steps:

TRMI is basically a kind of Initial Coin Offering [ICO], only a responsible and structured. That is it, really. You have to worry about how to generate liquidity. If you make a TRMI, one is interested in the appetite to the product and its development on the market.

That sounds so after a ICO 2.0, better known as the STO. The difference seems to be that the issued Token will be exchanged after the expiry of a period of time in SOV. Why the IMF with the possible national currency of the SOVs "macroeconomic and financial risks if the integrity," seems understandable. The current country's currency is the US Dollar. For the same reason, the negative Position of the US Department of the Treasury is.

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transparency to open or not: The Republic of the Marshall Islands is not on the Black list the NGO Oxfam, and is oasis one of the 39 tax. Also, the EU has cut the island state in March 2018 from your list. So about the time, when the plans for the Sovereign were known.

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