{"id":273339,"date":"2020-09-11T22:41:25","date_gmt":"2020-09-12T02:41:25","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=273339"},"modified":"2021-09-11T06:46:56","modified_gmt":"2021-09-11T10:46:56","slug":"sov-foundation-announces-crypto-as-official-legal-tender-of-marshall-islands","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sov-foundation-announces-crypto-as-official-legal-tender-of-marshall-islands","title":{"rendered":"SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands"},"content":{"rendered":"<p>The SOV Foundation, a nonprofit based in the Marshall Islands, plans to launch a &#8220;public auction of rights&#8221; to its asset, the SOV, and make it the &#8220;official legal tender&#8221; of the islands. It has also announced its economic and technical advisors as well as they prep for this.<\/p>\n<p>This is being done with the goal of improving the decentralized finance space (DeFi). This board is as follows:<\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<p dir=\"ltr\">Dr. Peter Dittus, Chairman of the SOV Development Foundation&#8217;s advisory committee. Previously he was the Secretary General of the Bank for International Settlements (BIS);<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Prof. Silvio Micali, Turing Award winner and founder of\u00a0<a href=\"https:\/\/www.algorand.com\/\">Algorand<\/a>, an open source, permissionless, proof-of-stake blockchain protocol that provides the underlying technology of SOV blockchain;<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Luis Ubinas, Former President of America\u2019s second largest foundation, the Ford Foundation and\u00a0was previously a Senior Partner at McKinsey &amp; Company. Ubinas was also a member of the Advisory Committee for Trade Policy and Negotiations for the Obama Administration;<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Prof. Mihaela Ulieru, International Relations and Business Development.<a href=\"https:\/\/www.weforum.org\/agenda\/authors\/mihaela-ulieru\/\">\u00a0Ulieru<\/a>\u00a0is President of the IMPACT Institute for the Digital Economy and an expert with the World Economic Forum&#8217;s Global Agenda Council on Data-Driven Development, advising governments, and organizations on emerging technologies;<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Steve Tendon, Blockchain and Regulatory Strategy advisor.\u00a0<a href=\"https:\/\/mt.linkedin.com\/in\/tendon\">Tendon<\/a>\u00a0is the architect of the Blockchain Strategy of the Republic of Malta;<\/p>\n<\/li>\n<li>\n<p dir=\"ltr\">Patri Friedman, Special Economic Zone advisor.\u00a0<a href=\"https:\/\/en.wikipedia.org\/wiki\/Patri_Friedman\">Friedman<\/a>\u00a0is the General Partner at Pronomos Capital, a Silicon Valley VC firm specializing in progressive Special Economic Zone projects. Patri is also the founder of the Seasteading movement and advises many innovative governance focused organizations.<\/p>\n<\/li>\n<\/ul>\n<p>Speaking on the matter is Peter Dittus, the Chairman of the SOV Development Foundation, who said:<\/p>\n<blockquote><p>\u201cThe SOV Development Foundation has assembled a dream team of professionals in blockchain and finance to finally relieve the broken fiat banking system of its problems. We\u2019re honored to work together and bring the vision of true decentralized global finance to life.\u201d<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The SOV Foundation, a nonprofit based in the Marshall Islands, plans to launch a &#8220;public auction of rights&#8221; to its asset, the SOV, and make <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/sov-foundation-announces-crypto-as-official-legal-tender-of-marshall-islands\" title=\"SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands\">[&#8230;]<\/a><\/div>","protected":false},"author":1722,"featured_media":109551,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[5357,11397],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.8 (Yoast SEO v21.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"The SOV Foundation, a nonprofit based in the Marshall Islands, plans to launch a \u201cpublic auction of rights\u201d to its asset, the SOV.\" \/>\n<meta name=\"robots\" content=\"max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands\" \/>\n<meta property=\"og:description\" content=\"The SOV Foundation, a nonprofit based in the Marshall Islands, plans to launch a \u201cpublic auction of rights\u201d to its asset, the SOV.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-12T02:41:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-11T10:46:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2018\/03\/pxhere-marshall-islands-beach.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Max Moeller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@maxemole\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Max Moeller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339\"},\"author\":{\"name\":\"Max Moeller\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/40e2bb7ce5197525f89f809b68ffe13f\"},\"headline\":\"SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands\",\"datePublished\":\"2020-09-12T02:41:25+00:00\",\"dateModified\":\"2021-09-11T10:46:56+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339\"},\"wordCount\":334,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"keywords\":[\"blockchain\",\"SOV\"],\"articleSection\":[\"Breaking Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/273339\",\"name\":\"SOV Foundation Announces Crypto as Official Legal Tender of Marshall Islands - 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