Republic of San Marino to become next Blockchain center
San Marino is ideally placed to become an innovator with this type of technology. We are not interested in short term or opportunistic policies to take advantage of the speculation surrounding today's cryptocurrency world. Rather, we are intrigued by the revolution implicit in the underlying technology: the Blockchain - which we expect to bring an impact on the global economy greater than what the internet has.
San Marino Innovation official announcement
Ambitious plans were unveiled today that will enable San Marino to become one of the leading blockchain (decentralized ledger technology) hubs in the world.
San Marino Innovation, the Republic of San Marino Innovation Institute, has confirmed the creation of a joint venture with Estonian-based Polybius, which provides for the incorporation of a new company under San Marino law aimed at developing a first of its kind blockchain ecosystem. Olympus Advisors, led by Samir Mastaki, played an instrumental role in harnessing this partnership.
Work will begin immediately on the drafting of an all-encompassing legislative framework for the blockchain industry, capitalizing on the unique intent of the Republic to become a reliable and proactive legislative partner for the industry.
The joint venture will also enable San Marino to harness Polybius’ Digital ID technology to create new and world leading identity mechanisms for authentication and verification. A move driven by ongoing European personal and private data management initiatives.
World leading blockchain ecosystem
“We are the world's oldest Republic and we are proud to begin a transformation lead by technology. We believe this partnership will have an significant impact on the economy, growing the innovation sector which is at the core of our development strategy” said Andrea Zafferani, Secretary of State for Economic Development. “The Republic will also acquire a state of art set of regulations to become a world-leading blockchain hub.”
“San Marino is ideally placed to become an innovator with this type of technology” said Sergio Mottola, Executive Chairman of San Marino Innovation. “We are not interested in short term or opportunistic policies to take advantage of the speculation surrounding today’s cryptocurrency world. Rather, we are intrigued by the revolution implicit in the underlying technology: the "blockchain", which we expect to bring an impact on the global economy greater than what the Internet has".
“The Government of the Republic is willing to take the lead on this transformation and is superbly placed to promote digital innovation through the constitution of a forward-looking legislation and jurisdiction to favour the growing blockchain infrastructure.”
“We are also activating a direct dialogue with innovators worldwide, offering them an environment in which digital economy based businesses can thrive.”
Anton Altement, CEO & co-founder of Polybius added “we are thrilled to announce this exclusive partnership with San Marino and are hugely excited about the potential of the project. We look forward to working alongside the relevant institutions of the Republic and San Marino Innovation in particular. ”
“We were a pioneer of distributed ledger technologies through our HashCoins OÜ company. Now we are able to bring that expertise and experience to bear on a project that will position San Marino as a hub for innovation and deliver a strong incentive for the Government to continue growing the industry in the long run,” said Ivan Turygin, co-founder of Polybius.
“Our broad experience includes development of practical solutions on multiple blockchains, most notably Emercoin. In the past, we have developed and implemented solutions ranging across password-free authorization, data storage and notary services,” stressed Sergei Potapenko, co-founder of Polybius
A new company, founded in 2017, yet its team boasts a combined experience of over a decade working on blockchain based projects.
Polybius will provide the new company with the know-how and technological tools necessary to develop an ecosystem of services, among them is Digital ID, an advanced verification tool.
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San Marino Innovation
The Republic of San Marino Innovation Institute, San Marino Innovation, is an Institutional Organ owned 100% by the Eccelentissima Camera della Repubblica di San Marino, and its function is to drive the long term innovation strategy and policy making in respect of innovation
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