VeChain (VET) and Republic of San Marino sign an MoU
|- VeChain will develop a utility token called the “San Marino Innovation Token,” to incentivize their citizens.
- The citizens will be rewarded to act in an environmentally sustainable manner.
VeChain and the Republic of San Marino have signed an MoU (Memorandum of Understanding). The partnership will leverage the blockchain technology to incentivize the citizens to behave in an ecologically sustainable manner.
The parties involved in this MoU were - San Marino Secretariat of Industry, Craft, Trade, Labor, Cooperation and Telecommunications, Republic of San Marino Innovation Institute S.p.A, management systems certification body DNV GL Business Assurance Group AS, and VeChain Foundation Limited.
VeChain will develop a utility token called the “San Marino Innovation Token,” which will reward citizens for engaging in environmentally responsible practices such as water conservation, proper waste management, etc.
Andrea Zafferani, Secretary of State for Industry, Crafts and Commerce, Labor, Cooperation and Telecommunications of the Republic of San Marino, expressed his excitement over the partnership stating:
“We will give life to an initiative that will directly involve citizens, rewarding ecological behaviors, responding to clear needs of the country system such as the reduction of carbon dioxide emissions, energy conservation, and waste management. We have the ambition of becoming the first zero-impact nation.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.