The Marshall Islands SOV: Over the last decade, the crypto world had many achievements, and it rightfully claimed its title as the replacement of fiat money. One of the main highlights of this process is definitely RMI’s parliament decision to issue a crypto legal tender, known as SOV GLOBAL.
The consequences of such an act are tremendous on many scales: On the world itself, on the financial world and its many systems, platforms and currencies, on the political level and presentation of RMI and on almost any “serious” field out there. On this article, the focus will be placed on the “Home turf”, AKA the crypto world, with an emphasis on Ethereum.
Ethereum is one of the most known digital currencies today, holding a market value of over 400$ per coin, a value that places it amongst the 5 strongest cryptocurrencies today. And as the SOV GLOBAL currency will gain momentum, the Ethereum network will go on a similar route and growth. As a matter of fact, the SOV coin may be the key for ETH’s (Ethereum’s surnames) next step in its evolution. How?
Credibility: Using ETH’s platform for such a complex operation sends out a clear message: ETH’s tools, technology, security and platform provide the base needed for handle such delicate matters. A decision like that marked ETH as a platform that you can trust – And in our world, trust is a rare and desired product.
Popularity: Everyone who will read a bit further into the project will also get a look at its foundation, and will quickly remember the name ETH. It doesn’t matter if the readers will know the name beforehand, the effect is similar: Recognition with the name. Who wouldn’t want such PR?
Further Projects: The crypto world gets new projects on a daily basis, and those projects are always looking for someone to rely on. The combination of the previous aspects gives them a direction to look for, which is of course, using the ETH solution and creating a cycle of many others who will gladly join the wagon.
When we take all of that into consideration, we notice that one action can affect a series of actions for an (Theoretically) unlimited time after. The echo that came from the issue of the SOV coin will definitely be heard for years to come – And that’s how an idea grows: By acceptance. The key for evolving the cryptoworld is gaining consensus, and the first step was taken by SOV GLOBAL.