- VeChain becomes a founding member of the first blockchain consortium of the Republic of San Marino to introduce new technology in the country.
- With the consortium, the regulations as well as the adaptation of the Blockchain in the state will be advanced.
VeChain signed a memorandum of understanding with DNV GL and several other partners last September to establish a sustainable ecosystem based on a blockchain that will reduce CO2 emissions and protect the environment of the Republic of San Marino. The small republic has recognized the chances of blockchain at an early stage and is looking for possible applications in practice.
VeChain becomes a founding member of the blockchain consortium
A few hours ago, the San Marino Innovation Institute announced the start of a new consortium that will promote the use and development of blockchain in the country. The founding members are: Renato Grottola, director of digital transformation of DNG VL and member of the steering committee of the VeChain Foundation , Vincenzo Di Nicola, adviser to the government of San Marino in the blockchain sector and Sara Noggler, founder of polyhedra.
The working group is coordinated by Alessandro Rossi, vice-president of the Institute. The new research group is called "Cryptovalues Consortium" and was founded with the aim of promoting a regulatory framework for adaptation in the blockchain. Among other things, the regulation of already existing cryptocurrency exchanges is also on the agenda.
The consortium's initiatives are designed to promote ideas and visions and to attract investors internationally. In addition, San Marino's competitiveness in the blockchain sector has yet to be developed and promoted. Finally, cooperation with other institutions and the exploration of possible synergistic effects should be encouraged.
The first meeting should take place until the end of this month and lay the groundwork for the development of the new blockchain hub in Europe. Andrea Medri, CEO of one of the largest crypto exchanges in Europe, "The Rock Trading", is also a member of the founding advisory board and is looking forward to announcing the opportunities and potential of Blockchain with professional partners.
The potential of VeChain recognized by many institutions
Jackson Fu, co-founder of CREAM, an incubator for blockchain companies, explained in detail why VeChain is one of the most valuable projects in the cryptography industry. According to Fu, VeChain can solve several fundamental problems in the industry, which no other crypto project has been able to put into production.
In addition, the Shanghai Municipal Commission for the Economy and Information Technology recently recognized the great potential of VeChain and described it as one of the most innovative companies in the blockchain industry. The German government points out in a study that VeChain's technology can be classified as an industry leader in many areas.
