Marshall encrypted currency SOV Corruption crisis continues to ferment

According to last week, NEEMA employees in Israel disclosed on social internet that David Paul the Marshall President’s Minister of Assistance who was suspect of insider dealing and corruption. Recently, an opposition person who denied to be named also wrote on Twitter in support of Steven, an engineer in Silicon Valley, the first person suspected of corruption. And this undisclosed evidence points directly to the incumbent president, Hilda C. Heine.

The user, nicknamed Fishpower, pointed out directly that the Marshall’s finance was extremely difficult, let along ICO of SOV would create a deficit. “The nature of SOV’s ICO is a Ponzi scheme. The government and the Marshallese will buy a bill at twice because it is driven by the President and those close to her. This is the most incomprehensible and intolerable. ”

Foreign digital encryption investors expect the rewards of SOV appreciation, even if someone is willing to swap BTC or the dollar for SOV, and at the present time no one has come out to explain why SOV has risen. Nevertheless, Marshall’s residents will also be distributed the SOV in free. All of this looks very alluring, but earlier, Tencent News of China, a distant country but full of the digital encryption enthusiasts, released a report: ” the Marshall Island has released its own legal encrypted currency—Sovereign (SOV), and will distribute it directly to the public. It will circulate in the country with the USD. This is the first country to complete the delivery of its own encrypted currency incirculation.

The publication of SOV was a lengthy legislative process and discussion . The Marshall Islands, with a population of 53,000, will set a precedent for other countries interested in similar behaviour. The current SOV exchange rate is parallel to the USD. The President of Marshall Island, Hilda C. Heine said: “ This is a historic moment for our people, and our own currency will be used in conjunction with the dollar, which is a step to highlight our national freedom. ”

The SOV will be distributed to the public through an initial escrow issue (ICO). “ RMI will use the proceedsto support climate improvement, green energy, health

care and education for those people affected by U.S. nuclear testing. In addition, the SOV will also be distributed directly to the public. ” She added.

Remarkably, the new framework allows SOV users to provide basic information to financial institutions, such as identity and sources of fund. The country will also allow global investors to participate in the ICO. Besides that, Marshall’s residents will be given a part of the currency free of charge.

“This kind of propaganda makes people seem to be getting a free lunch, but the truth of the ICO is that once they receive the circulation of SOV, then the fish they catch will be repaid in SOV instead of dollars. What people don’t know is that the SOV they get for free is actually the government’s future debt to digital enthusiasts. If SOV raises a billion dollars, then each Marshall’s citizen will have a debt of about 18,000dollars.”

“who’s getting the benefit? “ Fishpower said, adding that the President Hilda C. Heine had to explain where her husband’s two recent luxury cars came from.

Mrs. President, who hasn’t lived on the island for 70 percent of the year, but has pledged to spend her money on climate improvement, green energy, health care and education for those people affected by the U.S. nuclear test. However, all of these promises are not honor the commitments. On the contrary, the first to spend money on the completion of the project was the president’s coastal levee. Except of distribute the SOV to the islanders for free (practically, it is the debt to investors in the digital world).

The opposition person disclosed that according to the evidence he had held, he would make public through social networks before ICO issuing. “Investors should be aware that the value of the hard work of the fishermen in the remote areas is unlikely to support their from tenfold to hundredfold return on investment. Marshall’s residents also have the right to know that the free sugar they receive is a debt that comes at a price. ” And all of this is eyes front for the benefit of the Mrs. President and her close confidants who are not on the island for years.

As yet, the Marshall government has not responded to this.

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