{"id":70956,"date":"2019-03-16T12:14:52","date_gmt":"2019-03-16T12:14:52","guid":{"rendered":"https:\/\/www.edristi.in\/?p=70956"},"modified":"2019-03-16T12:15:00","modified_gmt":"2019-03-16T12:15:00","slug":"digital-currency-sov","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/digital-currency-sov\/","title":{"rendered":"Digital Currency SOV"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Question: Which country announced to release its digital currency named SOV in 2019? <\/strong><br>(a) Seychelles  <br>(b) Paraguay <br>(c) Nicaragua <br>(d) Marshall Islands <br><strong>Answer: (d) <br>Related facts: <\/strong><\/p>\n\n\n\n<ul><li>The\n<strong>Marshall Islands<\/strong>, an island country\nand associated state of United States is planning to launch its <strong>own digital currency<\/strong> in 2019.<\/li><li>The\ncurrency will be known as <strong>SOV (Sovereign)<\/strong>\nwhose <strong>legal tender<\/strong> status has been\napproved by the Parliament of the country.<\/li><li>This\nwill be circulated as a legal tender <strong>along\nwith US Dollar<\/strong>, the official currency of Marshall Islands.<\/li><li><strong>Israel-based company Neema<\/strong> is partnering with the&nbsp;Marshall\nIslands government to develop this currency. They are working through a huge\namount of US regulatory concerns as well as the technological and logistical\nside of issuing the SOV using&nbsp;<strong>blockchain\ntechnology.<\/strong><\/li>\n<script async=\"\" src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-7086827700842303\" data-ad-slot=\"2662621974\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n<li><strong>SOV<\/strong> will be issued to the public\nthrough an <strong>initial coin offering.<\/strong> It\nis a financing strategy very prevalent among startups for raising funds for\ntheir projects.<\/li><li><strong>Marshall Islands passed\nlegislation in 2018<\/strong>\nfor developing a digital currency as legal tender. This was criticized by the\nInternational Monetary Fund, the U.S. Treasury Department and bank officials in\nthe Marshall Islands for negative impacts on existing banks and can also lead\nto massive money laundering abuses as reported in digital currencies.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Marshall Islands:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Officially known\nas <strong>The Republic of Marshall Islands\n(RMI),<\/strong> Marshall Island is a small island with\na population of nearly 55,000 is situated in Central Pacific Ocean. The\ncountry is part of the larger island group of Micronesia.<\/li><li><strong>Majuro\n<\/strong>is the capital of Marshall Islands. The\nPresident of Marshall Islands is <strong>Hilda\nHeine, <\/strong>she the<strong> eighth <\/strong>President\nof the country. <strong>US Dollar<\/strong> is the\nofficial currency.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Links:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.reuters.com\/article\/us-crypto-currencies-marshall-islands\/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD\" target=\"_blank\">https:\/\/www.reuters.com\/article\/us-crypto-currencies-marshall-islands\/marshall-islands-to-issue-own-sovereign-cryptocurrency-idUSKCN1GC2UD<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www.business-standard.com\/article\/pti-stories\/marshall-islands-to-launch-digital-currency-this-year-119030900117_1.html\" target=\"_blank\">https:\/\/www.business-standard.com\/article\/pti-stories\/marshall-islands-to-launch-digital-currency-this-year-119030900117_1.html<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/en.wikipedia.org\/wiki\/Marshall_Islands\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">https:\/\/en.wikipedia.org\/wiki\/Marshall_Islands<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: Which country announced to release its digital currency named SOV in 2019? (a) Seychelles (b) Paraguay (c) Nicaragua (d) Marshall Islands Answer: (d) Related facts: The Marshall Islands, an island country and associated state of United States is planning to launch its own digital currency in 2019. The currency will be known as SOV [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":70957,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1089],"tags":[2338],"class_list":["post-70956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-enew","tag-economics"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/70956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=70956"}],"version-history":[{"count":0,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/70956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/70957"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=70956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=70956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=70956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}