Thursday, June 20, 2024

Montenegro makes Ethereum founder a citizen, wants to become blockchain hub.

A country in the Balkans, Montenegro has granted citizenship to Ethereum founder Vitalik Buterin in an effort to become a hub for blockchain innovation. The Montenegrin Prime Minister Zdravko Krivokapic is said to have pushed Vitalik’s name forward.

The southeastern European nation hosted Vitalik at the Future Now! Panel discussion, on April 7, which was hosted by the Minister of Finance and Social Welfare Milojko Spajic. The panelists also included Ethereum researcher Vlad Zamfir, and Professor of Law Boris Mamlyk from the University of Memphis. They discussed the legality of a blockchain identity, smart contracts in government, and other topics.

The panelists looked on the issue of how people can legally create a community using blockchain and legally verify their identity and stay protected against identity theft. Mamlyk believes Decentralized Autonomous Organizations could issue DAO tokens for people to prove their identity as a member. It will also protect their identity.

But Vitalik pointed out that there is no magic one-line principle that can tackle bad actors. He gave the example of the American state of Wyoming which recognizes DAO as a legal entity. The Ethereum co-founder said such an application of decentralized governance is a good first step. It’s also a good place to start for the European country as well.

Montenegro’s prime minister and other government officials discussed the country’s options in terms of the blockchain industry. As per local media reports, they also looked into the aspects of regulating crypto for the citizens. Spajic wants Montenegro to be strict on criminals in the industry. The minister believes fairness would stimulate growth and reduce the gray economy in all areas. He highlighted that Montenegro is working towards becoming a center of innovation in blockchain technology with an emphasis on the advantages of a legitimate industry that will bring attractive regulations.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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