It is now a visible fact that the interest of countries in crypto money and blockchain has increased. While the size is variable, many countries have focused on digitizing their economies and doing so using blockchain technology. Central banks of many countries preparing to launch their own digital currencies stablecoin increased mobility on the front.
Palau was the last country to step into the blockchain world. Although Palau, an island country, defines it as a ‘microstate’ with a population of 20,000, it has taken an important step in the digitization of the economy.
In an interview on the Bloomberg channel, Palau president Surangel Whipps Jr shared notable details about the digitization of the country and the inclusion of blockchain in the future.
Whipps Jr. also to create a national stablecoin of the country Ripple announced its collaboration with
Whipps Jr. during the interview he talked about the digitization of the country and what they are trying to include in terms of further development in the future. The president announced that the country is collaborating with Ripple to explore the creation of a national stablecoin.
He also underlined that they plan to launch the stablecoin project soon, which will help make payments easier and safer.
Whipps Jr. He also talked about Binance CEO Changpeng Zhao’s recent visit to the country and talks about how to use Binance Pay to facilitate payments for the country’s digital residents.
“This is a new area for Palau but we are excited to be a part of it. One of the advantages we have is that we are small. I hope we can set things in motion and be more adaptable to the changes that need to be made in this fast-changing environment.”
The President also stated that central bank digital currencies and general cryptocurrency and blockchain technology can complement each other.
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