You hear “Blockchain Island.” You think “Malta!” – One of crypto’s most successful branding story.
The original concept – a virtual crypto-jurisdiction – will prove invaluable to negotiate the post-pandemic world. Let’s reclaim the original meaning. Ultimately, I coined the phrase to begin with, in 2016, as I designed Malta’s Blockchain Strategy.
“Blockchain island” captured the essence of the concept: A virtual jurisdiction bridging the cryptosphere and the rest of the global economy, bringing crypto-technologies to the masses. Alas! The term became a marketing expediency to refer to Malta itself. The original vision went missing in action.
In 2018 I discovered the Marshallese SOV. A project that truly embodies this essence of the “Blockchain Island” concept.
The Marshall Islands! A small Pacific Island nation. Population under 60,000. Over 1,000 islands. GDP/capita under $4,000. Only one, threatened, correspondent banking relationship. The highest cancer rates globally, thanks to US nuclear testing after WWII. Average elevation 2m above sea level; the most climate-change threatened nation. Isolated. In need to forge connections. Geographically, economically and logistically constrained. Multiple existential threats. In a worst-case scenario the islands sink away like Atlantis.