Republic of San Marino signs MoU with VeChain Blockchain platform

3 min read

The Republic of San Marino has signed a Memorandum of Understanding (MoU) with the VeChain blockchain application platform. According to the agreement, the two entities intend to use blockchain technology to encourage sustainable ecological behavior of citizens, the local news agency asked askanews on July 22.

The MoU was signed between San Marino Secretariat of Industry, Craft, Trade, Labor, Cooperation and Telecommunications, Republic of San Marino Innovation Institute S.p.A, DNV GL Business Assurance Group AS Management System Certification, and VeChain Foundation Limited.

"Becoming the first zero emission country in the world"

The collaboration is part of the San Marino strategy to create and promote an ecosystem of technological innovation and to enable digital transformation. The Parties will work together to encourage citizens to adopt more environmentally friendly behaviors that reduce carbon dioxide emissions, save water and reduce waste.

The program would reward citizens with so-called San Marino Innovation Tokens issued by San Marino Innovation, which can then be used to access services offered within the Republic. The underlying blockchain technology of the token is based on VeChainThor Blockchain. Secretary Andrea Zafferani said:

“We will bring to life a project that will directly involve citizens and reward their sustainable behavior, while also meeting the country's requirements for reducing CO2 emissions, saving water, and processing and managing waste. Our ambitious goal is to become the first emission-free country in the world. "

Sergio Mottola, president of San Marino Innovation, emphasized that the program "is a clear sign of San Marino's attractiveness with regard to technological innovation: these are real projects that will soon produce tangible results."

The MoU comes after a government decree on blockchain technology for companies by the Captain Regent of the Republic of San Marino, Nicola Selva and Michele Muratori in June.

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Don Bradman

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