Blockchain Consultancy Firm Chief Hired to Help Launch Sovereign (SOV)

Francisco Memoria

The Marshall Islands, a small country in the Pacific Ocean, has recently revealed that it hired Steve Tendon, the head of blockchain consultancy firm ChainStrategies, as its cryptocurrency advisor.

Notably the country has announced last year that it’s looking to launch its own national cryptocurrency called Sovereign (SOV). Tendon is set to help it develop Sovereign, and assist its government with “the drafting, design, and issuance of their new cryptocurrency.”

Tendon is notably the founder and President of the Blockchain Malta Association, and acts as a Chief Technology Officer at Anticipay, a fintech firm. In the past, he was a Strategic Advisor to Malta’s Prime Minister, when the nation was focusing on attracting blockchain and cryptocurrency-related companies.

Its efforts worked, as it attracted some of the most prominent in the industry, including leading cryptocurrency exchanges like Binance and OKEx, which was named “crypto exchange of the year” at its cryptocurrency conference.

Tendon isn’t, however, the only notable adviser Sovereign will have. The cryptocurrency’s Chief Economist is Peter Dittus, according to a post on SOV’s Medium blog, the former Secretary General of the Bank for International Settlements.

Dittus was quoted as saying:

Steve is one of the foremost experts in blockchain technology and regulations. [He] will assist with the drafting and designing of regulations to develop a blockchain financial services economy out of the Marshall Islands.

Per the blog post, the Marshall Islands are looking to evolve “in a similar way to the Cayman Islands,” a territory that it claims incorporates “5% of the world’s hedge funds despite having a similar population to the Marshall Islands.”

Notably, as CryptoGlobe covered, the International Monetary Fund (IMF) has warned the nation not to launch the cryptocurrency as second form of legal tender (along with the USD). Per the IMF, the issuance of a decentralized cryptocurrency as a second legal tender would “increase macroeconomic and financial integrity risks, and elevate the risk of losing the last U.S. dollar correspondent banking relationship.”

Early Bitcoiner Donates 50 BTC to Grin, Sparking Satoshi Nakamoto Rumors

The Grin General Fund has recently received an anonymous 50 BTC donations from an early bitcoin adopter, a move that sparked rumors it could’ve been Satoshi Nakamoto.

Grin is a privacy-focused cryptocurrency that aims to empower anyone to transact and save money without fearing external control or oppression. One of its developers, Daniel Lehnberg, recently revealed the project received a 50 BTC donation from an address that stored the coins since they were mined.

A look at the data on the blockchain shows the address mined the 50 BTC back in December of 2010, when block rewards were still of 50 BTC and when the cryptocurrency was worth very little.  The only transactions the address have are the one receiving the coinbase rewards in December 2010, and the donation to Grin this month.

Analyzing the data Litecoin creator Charlie Lee said on Telegram the donation came from Bitcoin’s creator Satoshi Nakamoto. Lee later on clarified his comment was a joke, but rumors started flying, setting the crypto community abuzz.

Lehnberg revealed in his post that he managed to interact briefly with the donor, who chose to remain anonymous. The donor said he wouldn’t judge how the funds, currently worth around $429,240, would be spent and assured him the project was going great and that it “feels like 2009/2010 again.”

The donor reportedly added:

It’s wonderful that we have GRIN now, our motives are not economical! It’s about the technology and the protocol. Please put it to good use for the development of GRIN … We saw your work and your ethics towards the project and your interest free work. This is what we are honouring right now with these donations so that you can work freely on GRIN. Without economic dependencies.

The donor added that hopefully they judged right and “time will tell.” It’s worth pointing out that blockchain data also shows that at the time of the transaction, December of 2010, the number of unique addresses on the Bitcoin network grew from 500 to 600.

One unique address if often associated with one user, although anyone can, of course, create multiple unique addresses. As the donor mentioned it “feels like 2009/2010” wit’s possible they got into Bitcoin the year it was created, 2009.

If so, blockchain data shows the number of unique addresses grew to 100 that year, which could still mean there are 100 potential candidates, one of them being Satoshi Nakamoto himself.

Featured image by André François McKenzie on Unsplash.