- VeChain has partnered with the Republic of San Marino
- The partnership will give incentive tokens to citizens for eco-friendly practices
Two things that are poised to be part of the global economy in the near future are eco-friendly practices as well as blockchain technology and the two have been merged by the Republic of San Marino as it was announced on July 22 that they have signed a memorandum of understanding with VeChain. According to the report, the partnership between the two will help to create an incentive for citizens to practice sustainable ecological behaviors.
This is not the first time that blockchain is being used for sustainable energy practices as it was previously used with IOTA and the distribution of energy from a grid. This is also one of the recent notable developments at Vechain as they have recently announced a fee subsidy for D’app developer.s
Blockchain and the ecosystem of the future
The memorandum of understanding in question involves several organizations such as the San Marino Secretariat of Industry, Craft, Trade, Labor, Cooperation and Telecommunications, Republic of San Marino Innovation Institute S.p.A, DNV GL Business Assurance Group AS, and VeChain Foundation Limited.
The Republic of San Marino has a very ambitious plan to sustain an ecosystem that involves both technological innovation and digital transformation as well as plans to become the first zero-emissions country in the world. To achieve this, they intend to use this partnership to encourage citizens to adopt environmentally friendly behaviors that will reduce waste, save water and also reduce carbon acid gas emissions.
San Marino to build on top of Vechain
As a result of this partnership, citizens will be given San Marino innovation tokens are issued by the San Marino innovation and this can be used to access various services and benefits within the country. VeChain comes in as the blockchain technology that the token will make use of will be based on their Thor blockchain. Secretary Andrea Zafferani:
“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.”