Crypto-currency will be the official currency of the Marshal Islands
This country which includes more than 1,200 islands in the Pacific ocean adopted Wednesday a law declaring the officiality of its digital currency, called Sovereign (SOV), to quickly replace the dollar American, used until then. The Republic of the Marshall Islands, an island country located in the center of the central Pacific ocean, should become the first sovereign nation to issue a crypto-currency as legal tender and official reports the International Business Times. The Parliament of this group of more than 1,200 islands, with a population of approximately 50,000 inhabitants, adopted Wednesday a law declaring its digital currency, called Sovereign (SOV), as its new official currency. It should enter into circulation later this year. Neema, a start-up based in Israel which facilitates international money transfers via an application, will develop the underlying technology of the new crypto-currency. "SOV is a big issue, because so far, all the crypto-currencies were i...