Where does the money come from? Where shall the money use to do? I believe there are more Marshallese residents like I don’t know anything about that. ”
As early as March this year, the Marshall Islands, in the South Pacific sovereign state, had promulgated a law that would issue the world’s first sovereign legal encrypted digital currency——Sovereign (From now on referred to as “SOV”). In according to the report, the sovereign digital currency will circulate along with the USD, and 20-8 votes have passed this resolution in the Marshall Islands National Assembly.
SOV national digital currency will be distributed to citizens in the form of ICO. The President of the Marshall Islands, Hilda C. Heine, said: “The Marshall Islands will invest in climate change, education and green energy, as well as provide health care for those people affected by the U.S. nuclear test. This is a historic moment for our people, and our currency will be used in conjunction with the USD, leading us one step closer to national freedom. ”
Steven and the other supporters who share the common scepticism: “It is a false proposition that SOV national digital money is distributed to the people through ICO. The President’s Minister of Assistance David Paul does not make this clear to his peoples, many of whom, like me, were in the dark. ”
The Marshall Islands SOV National Digital currency will be issued and supported by Israel’s Neema Corporation, which is the incubator of Y Combinator, a well-known business Incubator focused on providing financial block-chain solutions Incubator focused on providing financial block-chain solutions.
David Paul, the Marshall Islands’ Minister of Assistance, said earlier that choosing Yokew, the new block-chain framework was a wise move for SOV digital currency. Because it not only has all the advantages of bitcoin but also is not anonymous. SOV allows 95% of blockchain enthusiasts to use encrypted currency without hiding anything. And each SOV wallet is associated with a real person through a verified government ID and fingerprint.
Eric, Steven’s Israeli colleague, said the problem was: “the first of all, ICO is in connection with 95 per cent of block-chain enthusiasts, thus, apparently more than 95 per cent of the 70,000 citizens who live in the Marshall Islands are not the participants. Since SOV raised ICO funds from 95% of non-Marshallese residents, how does the government ensure that the SOV wallets of other foreign investors can be linked to a real person through the government ID and fingerprint? ”
Some sceptics further pointed that: As far as I concerned, our country does not have the capability and the technology, besides that, Israeli companies provide and encourage SOV through POW means that issue rights of Marshall SOV currency are not under the government’s control, which from raising money to mining. It has nothing to do with Marshallese citizens, who are neither held accountable nor informed of the risks involved. It is hard to imagine how the BTC and ETH raised by Hilda C. Heine and David Paul from digital currency enthusiasts around the world and how the dollars are allocated and used. However, the SOV in exchange for ICO is essentially an external liability. Given POW generate the new SOV, Marshallese Residents are difficult to compete with foreign mining machines by incentive hash power to mining. Most of them can only fishing, and there aren’t have any mining machines in their home to mine SOV. But David Paul has to pay their fish SOV instead of dollars.
From the excitement to the suspicion, the problem is that the government has not figured out what they are doing. STEVEN came to this conclusion after many discussions with the American cryptocurrency enthusiasts.
“This is a historic moment when we are finally issuing and using our currency and circulating with the dollar,” said Hilda C. Heine, Marshall’s president. “This is a further step towards the expression of our national freedom. “
“it was an elaborate traitorous act, and the people living on the island had an inexplicable debt, and so far they didn’t know what had happened, but the bill was passed.” Carl, a Marshall resident who has lived in America for a long time, said that: “ If the United States issues such an SOV, I believe U.S. citizens will take to the streets to protest. This is unimaginable in the United States. ”
Steven and his supporters are hoping to let more Marshallese residents know the truth about the problem through social media, and they hope President Hilda C. Heine can answer these questions.