As A Citizen Of Montenegro, Vitalik Buterin Will Help Reshape The Country's Blockchain Situation

2022-04-16 01:02:54
Butelik To Transform Montenegro Into  A Blockchain Hub

The founder of Ethereum and one of the most prominent members of the global crypto community, Vitalik Buterin, is now allegedly a citizen of the small Balkan country Montenegro. This news come just after the government of Montenegro publicly revealed its intentions to become a blockchain hub of innovations, similar to El Salvador.

While there hasn’t been any official announcement nor confirmation by the government of Montenegro, the Minister of Finance and Social Welfare, Milojko Spajić, shared a photo on his Twitter account that depicts both the Minister and Butelik, with the latter holding a Montenegrin passport in his hand.

Moreover, many believe that the procedure of granting Buterin the Montenegrin citizenship was already a done deal back on April the 7th when the Ethereum co-founder attended the Future Now! the conference, a crypto panel dedicated to developing various spheres of the blockchain industry such as governments using smart contracts, innovations in blockchain, etc.

In particular, one of the subjects that got particular attention from the panellists was regarding the overall safety when on the blockchain, and consequently how to create blockchain communities, ensure anti-theft protection and how successfully verify their identity.

According to Mamlyk, one viable for users to verify their identity is by using DAO (decentralized autonomous tokens), issued by DAO organizations. This way, not only do the users get to prove their identity but also maintain their privacy.

When asked about this option, Buterin says that unfortunately, there is no full-proof way to ensure protection against malicious individuals. However, when speaking on the subject of whether the government of Montenegro should permit firms to sign up as DAOs, the co-founder pointed at Wyoming, and said that this would be a “good first step”, and ” a good place to start”.

The reason why Buterin mentioned Wyoming in particular, is because the U.S. state of Wyoming recognizes decentralized autonomous organizations as legal entities.

Helping To Regulate Crypto In Montenegro

Aside from Buterin, the were several notable guests attending the crypto panel, including the Montenegrin Minister of Finance and Social Welfare, the professor of law at the University of Memphis, Boris Mamlyk, and Vlad Zamfir, a prominent blockchain researcher that specializes in Ethereum.

The new citizen of Montenegro, Vitalik Buterin, attended a prior meeting on April 4th, where he met with certain Montenegrin government officials, only this time with the Prime Minister of the country, Zdravko Krivokapić, as well as several other members of the government.

While the discussion involved general topics from the blockchain industry, one of the key points was the question of how to properly regulate crypto for the citizens of Montenegro. The Minister of Finance, Milojko Spajić, states that the number one priority should be reducing the grey economy.

Particularly, the country should maintain a more balanced approach, where all crypto criminals should receive hefty fines and fitting punishments, yet without losing the transparency that would eventually push towards reducing the said grey economy.

Montenegro strives to become a centre of innovation in blockchain technology with an emphasis on all the advantages of a legitimate industry that will bring attractive regulations.Milojko Spajić | Minister of Finance and Social Welfare

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