Close Menu
    X (Twitter)
    Blockchain Journal
    • News
      • Blockchain News
      • Bitcoin News
      • Ethereum News
      • NFT
      • DeFi News
      • Polkadot News
      • Chainlink News
      • Ripple News
      • Cardano News
      • EOS News
      • Litecoin News
      • Monero News
      • Stellar News
      • Tron News
      • Press Releases
      • Opinion
      • Sponsored
    • Price Analisys
    • Learn Crypto
    • Contact
    • bandera
    Facebook X (Twitter) Instagram
    Blockchain Journal
    Home » Marshall Islands launches national blockchain currency

    Marshall Islands launches national blockchain currency

    0
    By BlockchainJournal on September 4, 2019 News
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Marshall Islands, a state located in Micronesia, announced the launch of a currency based on innovative technology. This initiative has matured in the republic amid the desire to achieve independence in monetary policy in such a way as to preserve the values characteristic of the Marshall Islands.

    The republic’s intention to introduce a national digital currency became known last year, when the law “On Sovereign Currency” was adopted, where it announced plans to create a blockchain currency. The Marshall Islands received the status of an independent state in 1979, however, so far they have used the US dollar as the official currency for all payment transactions.

    The state authorities draw attention to the fact that the intention to launch another legal tender, which is also based on the blockchain, is supported by the belief that any decisions based on centralization will not work in a country where the population is a little more than 50 thousand people who live on more than 1 thousand islands scattered in the Pacific Ocean.

    The technology that underlies the currency is reported to allow the country to automate most processes, as well as reduce costs associated with existing payment systems. This decision will also allow the state to take an active part in the fight against money laundering and the financing of terrorism.

    It is known that the issue of the blockchain currency of the Marshall Islands will be limited, the inflation rate will be fixed at 4% per year. This decision is due to the instability of fiat funds, the public no longer trusts traditional banks, so the state authorities decided to approach the blockchain currency with responsibility, not considering it as a kind of unlimited resource.

    blockchain CDBC Featured USD Work
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    BlockchainJournal

    Related Posts

    Hyperliquid’s USDH stablecoin call sparks fairness and governance debate

    September 5, 20253 Mins Read

    SharpLink to explore staking part of its $3.6 billion ETH treasury on Linea

    September 5, 20253 Mins Read

    Strategy Inc.’s path to the S&P 500 faces committee discretion, extreme volatility, and Bitcoin-dependent results

    September 5, 20253 Mins Read

    Coinbase accelerates toward a majority of AI-generated code amid a global trend

    September 5, 20253 Mins Read

    World Liberty Financial Blocks Justin Sun’s Wallet Amid WLFI Controversy

    September 5, 20253 Mins Read

    SEC bets on a pro-crypto agenda with a series of rulemakings on digital assets

    September 5, 20252 Mins Read

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    © 2025 Blockchain Journal

    Type above and press Enter to search. Press Esc to cancel.

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.