As a next step toward responsible decentralization of the Algorand network, Silvio Micali and Jing Chen share a proposal for further decentralizing Algorand Governance

Marshall Islands

Government / Public Sector, Digital Assets, Stablecoins

About Marshall Islands SOV

The Republic of the Marshall Islands is nation embracing future technology, With a vision for an open financial system that harnesses the benefits of blockchain technology, the Marshall Islands is the first country to adopt a national digital currency. The digital currency, known as the SOV, will circulate alongside the US dollar and help the Marshall Islands efficiently operate in the global economy.

How the Marshall Islands is using Algorand

Algorand was selected to power the first national digital currency for SOV because it has the best functionality required to issue, manage, and distribute the SOV on a global level. Additionally, the Algorand protocol was chosen for its speed, scalability, security and its ability to effectively implement required compliance controls and the transaction finality needed for a national digital currency.

Marshall Islands to Power World’s First National Digital Currency with Algorand and SFB Technologies

Latest News

March 3, 2020
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CoinDesk

Algorand Blockchain Chosen as Underlying Tech for Marshall Islands' Digital Currency

March 2, 2020
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CoinTelegraph

Marshall Islands’ Sovereign Digital Currency Will Be Based on Algorand

March 3, 2020
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The Block

Marshall Islands' digital currency will be built on Algorand blockchain

Inside the Marshall Islands’ New Cryptocurrency: The SOV

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