San Marino’s Government Signs MoU With VeChain

By Prashant Jha

Blockchain platform VeChain and the Republic of San Marino have signed an MoU (Memorandum of Understanding) recently, with the agreement geared towards having the two entities try and make use of blockchain tech for the incentivization of ecologically sustainable behaviour from the citizens. This new development was reported by a local news outlet on the 22nd of July.

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 were the parties that were involved in sealing the deal and signing the MoU.

The goal of this MoU, especially for the Republic of San Marino, is “to become the first zero-emissions country in the world.” The decision is a reflection of San Marino’s recent decision to encourage a technologically innovative ecosystem and pave the way for a digital transformation of the country. The parties intend to partner in a way that promotes sustainable and responsible behaviour among citizens. Such environmentally conscious attitudes can bring down the existing levels of carbonic acid gas emissions, wastage of water and waste generation.

As a part of this program, citizens who are able to stick to ecologically sustainable forms of behaviour, will be rewarded with San Marino Innovation Tokens. These tokens can then be used to make use of services in the country. The token will be supported by a blockchain that is based in the VeChain Thor network.

Secretary Andrea Zafferani commented:

“We will give life to a project that will directly engage citizens and reward their sustainable behavior, while also meeting the country’s demands in regards to CO2 emissions reduction, water saving and waste disposal and management. Our ambitious goal is to become the first zero-emissions country in the world.”

Sergio Mottola, President of San Marino Innovation, emphasized that the program is, “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.”