Algorand and its use cases

Modified on Mon, 06 Feb 2023 at 01:30 PM

The Marshall Islands (Republic of the Marshall Islands) is a country located in the Central Pacific with a population of roughly 50,000 scattered across over 1,100 islands. Thus, Marshall relies primarily on cross-border trades and remittances, leading to the government considering the adoption of SOV (Sovereign) currency with the aim of reducing the cost of cross-border remittances.


SOV currency was built on Algorand’s blockchain since Algorand features speed, security, and scalability, and it was reported that Algorand has over 16 CBDC-related projects currently being developed on their network.


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