Marshall Islands recruit Steve Tendon
Former Strategic Advisor on Malta’s National Blockchain Strategy hired to help the Marshall Islands issue official cryptocurrency
In a bid to issue an official cryptocurrency, the Marshall Islands has recruited Steve Tendon, Managing Director of TameFlow Consulting / Chain Strategies, and Strategic Advisor for the Ministry of Economy, Investment and Small Business of the Maltese Government back in 2016, where he helped develop and implement Malta’s National Blockchain Strategy.
The Marshall Islands has been focusing its efforts on successfully issuing an official cryptocurrency as a means of moving away from over reliance of the US Dollar and optimising financial services – a move that faced some opposition and pressure from the United States and the IMF. President Hilda Heine was subject to a so far unsuccessful no confidence motion from senators back in November 2018.
The new Sovereign (SOV) was created by presidential degree and will enter circulation alongside the US Dollar as an official currency.
Mr Tendon’s previous experience makes him a good fit for the role, with Dr. Peter Dittus, former Secretary General of the Bank for International Settlements saying that Tendon’s support may be crucial for the Islands to meet their goal.
“With Steve working alongside Neema, we are growing closer ever day to support the Marshall Islands with issuing the first digital legal tender and launching a financial services economy around it.”
The government of the Marshall Islands also commented that “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.”