Marshall Islands Inspired by Block.One’s work
It has been almost a year since the Republic of the Marshall Islands (RMI) unveiled the development of its national digital currency dubbed Sovereign (SOV). The cryptocurrency is set to tackle some issues the RMI struggles with, including high costs of remittances. A crypto legal tender could purportedly create a situation where the solution to costly remittance is “baked into” the monetary system itself.
Examining SOV’s white paper, Cointelegraph noticed that it hints at a Delegate Proof of Stake (DPoS) system that is probably derived from EOS, specifically when it comes to block production. Cointelegraph reached out to Jim Wagner, co-founder and CTO of SFB Technologies, the company behind the development of SOV’s blockchain infrastructure, to comment on whether SOV’s system is based on the EOS software developed by Block.One.
Wagner confirmed that SOV is currently under active development internally, and that the cryptocurrency’s design not only has similarities to EOS, but is in fact inspired by the work of Block.One. He also said that their chain is completely independent, but declined to comment on interoperability or partnerships.
