The Republic of San Marino has just signed a Memorandum of Understanding (MoU) with VeChain. According to the agreement, the two will work together to leverage blockchain to incentivize ecological behavior from San Marino’s citizens.
San Marino and VeChain are coming together to use blockchain technology for green sustainability. A Memorandum of Understanding has been signed between the San Marino Secretariat of Industry, Craft, Trade, Labor, Cooperation, and Telecommunications and the VeChain Foundation.
VeChain and San Marino: Building a Greener Future
San Marino hopes to become the first zero-emissions country in the entire world. Overall, the goal is to use blockchain to make San Marino citizens be more environmentally-focused by reducing carbon emission, saving water, and reducing waste. Every citizen who follows a ‘sustainable’ life will be given ‘San Marino Innovation tokens’ which will be based on the VeChainThor blockchain.
Sergio Mottola, President of San Marino Innovation, told reporters that the collaboration is a “clear sign of the attractiveness generation by San Marino in regard to technological innovation.”
A Blockchain Nation
The collaboration comes just one month after San Marino issued a governmental decree on blockchain technology. The decree outlined regulatory policies for tokens and their offerings which have made San Marino one of the few nations in the world to do so.
With the VeChain partnership, San Marino hopes to be one of the leading hubs for blockchain innovation in the world. The country has already attracted many high-profile projects, but the tiny nation hopes to expand on its efforts.
By implementing greater usage of digital infrastructure, the country hopes to also pilot many up-and-coming blockchain projects in the country. If successful, we could see VeChain applied to other ‘green’ initiatives as a way to incentivize sustainability.
Do you believe San Marino’s ecological program with VeChain will ultimately be a success? Could it serve as a model for other nations? Let us know your thoughts in the comments down below.