The bill will be in the form of a physical card equipped with microprocessor.
Manufacturer hardware cryptogamic Tangem, who is based in Switzerland, announced that it will release “the physical blockchain notes,” and that is preparing to launch a national digital currency of the Marshall Islands. About it reported in a press release, informs Rus.Media.
According to the startup, these “blockchain banknotes” will be used for storing national digital currency Sovereign (SOV). It is intended to be alternative means of payment on the territory of the Pacific States and taken along with the U.S. dollar.
For a new means of payment is inherent in the “controlled mechanism of issue and circulation on the territory of the country.” The bill will be in the form of a physical card equipped with microprocessor. Tangem also note that validation of transactions will be instant, and payments without fees and do not require Internet connection.
Plans of the Marshall Islands to produce a national cryptocurrency became known less than a year ago. In the autumn of last year, the international monetary Fund spoke out against plans to issue such payment instrument, citing the unstable economy in the country and its dependence on the United States.