By VeChain, the Singapore based blockchain supply chain platform has been doing really good in terms of bringing blockchain technology into mainstream businesses. With the launch of its mainnet, the firm has seen a lot of industrial giants like BMW and Walmart board its public blockchain now termed as VeChain Thor. The team has been exceptionally active and the project is one of the favorites for developers and start-ups looking to develop dApps. This doesn’t end it, according to a local media outlet askanews, VeChain has signed a Memorandum of Understanding (MoU) with the Republic of San Marino.
The MoU was signed between 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 to deploy blockchain technology to incentivize sustainable ecological behaviour from citizens.
Creating an Eco-Friendly environment:
The name of the project is “San Marino Low Carbon ecosystem” as proposed by DNV GL. In collaboration with VeChain, both the bodies aim to create an ecosystem that enables the promotion of “virtuous behavior by citizens” and is aimed at reducing the CO2 emissions. The platform will also promote various eco-friendly practices such as water saving, differentiated collection, and proper waste management. The citizens will be rewarded with a usage token issued by San Marino termed as (San Marino Innovation Token). These tokens can be used to offer various services within the Republic.
Andrea Zafferani, secretary of state for Industry, Crafts and Commerce, Labour, Cooperation and Telecommunications of the Republic of San Marino commented on this event:
“We are particularly proud and proud of this memorandum of understanding, which certifies the Republic of San Marino as an ideal place to experiment, where the blockchain becomes part of everyone’s life, every day. We will give life to a project that will directly involve citizens, rewarding virtuous behaviours, responding to clear needs of the country system such as the reduction of carbon dioxide emissions, water saving, waste management, and the best energy use. We have the ambitious goal of becoming the first zero-impact country.”
Sunny Lu, CEO of VeChain said:
“The main strategic goal of VeChain is to create, through the mass adoption of the blockchain, a positive impact on people’s lives. We are pleased to be working with San Marino and DNVGL in creating a low carbon ecosystem and in launching the San Marino Innovation token, the initiative is significant and unique in its kind. We are happy to be part of this great change and honored that San Marino Innovation considers VechainThor as a technological infrastructure capable of supporting the ecosystem. This national initiative represents a great goal for VeChain, and for the entire global blockchain community.”
This is one of the most innovative applications of blockchain technology as it targets two goals at once, the mass adoption of blockchain and the creation of an Eco-friendly society. Projects like this are the ones that will be the game-changer in the not so distant future.
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