Republic of San Marino launches blockchain partnership to encourage sustainable ecological behavior

A Memorandum of Understanding (MoU) was recently signed by the Republic of San Marino and VeChain, a blockchain firm, to launch a project involving the distributed ledger technology. This new initiative is intended to encourage the adoption of sustainable and environmentally friendly practices in the region.

Part of the larger goal of achieving zero-emissions, this project is meant to promote such practices as reducing carbon gas release, waste reduction, and saving on water, local news outlet AskANews reports.

In order to incentivize sustainable ecological behavior, citizens will be rewarded with San Marino Innovation Tokens, which will be issued using VeChainThor Blockchain. Citizens would be able to use these tokens to access various services offered in the region.

The Secretary of State Secretary of State for Industry, Crafts and Commerce, Labor, Cooperation and Telecommunications, Andrea Zafferani addressed the matter, espousing their pride at the initiative.

"We are particularly proud and proud of this memorandum of understanding, which certifies the Republic of San Marino as an ideal place to experiment, where the blockchain becomes part of everyone's life, every day. We will give life to a project that will directly involve citizens, rewarding virtuous behaviors, responding to clear needs of the country system such as the reduction of carbon dioxide emissions, water saving, waste management and the best energy use. We have the ambitious goal of becoming the first zero-impact country,” Zafferani said in a translated statement.

San Marino Innovation president, Sergio Mottola also weighed in on the matter, Cointelegraph reports. He said that the signing of the MoU represents “a clear sign of the attractiveness generated by San Marino in regard to technological innovation: these are real projects that will soon provide tangible results.”

The Republic of San Marino has also shown considerable warmth towards blockchain and the various businesses that come along with it. In fact, Nicola Selva and Michele Muratori, the country’s captains regent had signed a government decree on blockchain technology for businesses in June. The decree covers regulations that address tokenization and many other aspects of the technology.