The Republic of San Marino adopted the Register of Blockchain Entities, inviting companies in the industry to apply for certification.
The Republic of San Marino has officially adopted the Register of Blockchain Entities, inviting companies in the industry to apply for certification.
Companies can apply for blockchain certification online
The project was initiated by San Marino’s fully state-owned tech innovation company, the Institute for Innovation of the Republic of San Marino, Cointelegraph Italia reports Oct. 22.
According to local public service broadcaster San Marino RTV, companies in the microstate of San Marino can now apply to be recognized as a blockchain entity via an official form on the official website of the Republic of San Marino Innovation Institute. As per the report, the certification will be granted in accordance with the provisions of the Delegated Decree number 86 of 2019.
Annual checks for certification renewal
According to the report, the newly launched Register of Blockchain Entities will only include entities that fully comply with the rules in the industry. The applicants will have to pass necessary examinations in order to ensure transparency, quality and proper market positioning, the report notes. Additionally, the Institute will conduct constant checks as well as annual examinations in order to renew certifications. Sergio Mottola, president of San Marino Innovation, said:
“The interest of foreign investors has been very high and we believe that this project will have a significant impact on the entire economic system of the Republic, giving the Blockchain Entities the great advantage to act in a legislative framework with clear and defined rules. The registry will allow a fast and clear dialogue with all public and private stakeholders…”
In July 2019, the Republic of San Marino signed an agreement with blockchain application platform VeChain to deploy blockchain tech to provide incentives for sustainable ecological behavior from citizens. In June, the captains regent of the Republic of San Marino, Nicola Selva and Michele Muratori, issued a governmental decree on blockchain tech for businesses.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.