The Marshall Islands — a sovereign nation located halfway between Hawaii and Australia is to create the first legal tender issued as a cryptocurrency, named the Sovereign (SOV). The SOV will be exchanged and distributed as a digital coin. Now the country uses the United States dollar (USD) and will continue to use it, as the SOV will initially be created as a supplementary currency. The Marshall Islands’ government also plans to use blockchain technology to revolutionize the nation’s licensing, ownership, and voting systems.