The Republic of San Marino and blockchain-backed app platform VeChain recently finalized a Memorandum of Agreement (MoU). The involved parties agreed to utilize blockchain-powered technology to encourage sustainable environmental behavior from San Marino residents.
Report from Askanews
Local news site Askanews reported that the Memorandum was made between VeChain Foundation Limited, the San Marino Secretariat of Industry, Cooperation, and Telecommunications, the country’s Innovation Institute, and DNV GL Business Assurance Group AS, a management certification firm.
The agreement is part of the country’s strategy to develop and promote a system of innovation and to usher in digital transformation. The group will collaborate in encouraging citizens to embrace a more environmentally-friendly conduct to help lower carbonic-acid based gas emissions, reduce waste, and save water.
Incentives Through Tokens
Part of the country’s strategy is to give incentives to its citizens via the San Marino Innovation Tokens. These will be issued by the San Marino Innovation Group and which will also be tapped to access services extended in the Republic.
Meanwhile, the Innovation Tokens will be using blockchain tech founded on the VeChain Thor Blockchain system.
Andrea Zafferani on the Topic
Andrea Zafferani, San Marino’s Secretary, said the Republic’s blockchain project will engage its citizens and incentivize sustainable behavior. He also explained that it will help with the country’s aims regarding saving water, waste management and disposal, and the reduction of CO2 emissions.
According to Zafferani, San Marino wants to become the first country to have zero-emissions.
Meanwhile, the president of San Marino Innovation, Sergio Mottola, claimed the program proves how attractive the country is in terms of innovation. He also emphasized that the projects they have in the pipeline are real and will soon have concrete results.