The Montenegrin government has begun fulfilling its pledge to become a hub for blockchain innovation by reportedly making Ethereum creator Vitalik Buterin its newest citizen.
Montenegrin news outlet RTCB reported that Prime Minister Zdravko Krivokapiฤ recommended Buterin receive the privilege to help the southeastern European nation promote its efforts to become a blockchain innovation hub.
There does not appear to be an official announcement, however this photo was reportedly shared by the Minister of Finance and Social Welfare Milojko Spajiฤ when Buterin received his passport.
Montenegro hosted the Ethereum (ETH) co-founder on April 7 at the Future Now! panel discussion hosted by Minister Spajiฤ. There, panelists Buterin, Ethereum researcher Vlad Zamfir, University of Memphis Professor of law Boris Mamlyk, and Minister Spajiฤ spoke on the legality of blockchain identity, smart contracts in government, and other topics.
Buduฤnost Sad! Kripto zakon, inovacije, zajednica
Prilika za uspostavljanje zdrave, odrลพive, blokฤejn industrije u sluลพbi naroda.
V.Buterin – osnivaฤ ETH
V.Zamfir – glavni istraลพivaฤ ETH
B.Mamlyk – internacionalni profesor prava
M.Spajiฤ – moderatorhttps://t.co/PvBNeQi52n pic.twitter.com/X9WCNJz6eZโ Milojko Spajiฤ (@MickeySpajic) April 7, 2022
In an April 4 meeting, Prime Minister Krivokapiฤ, Buterin, and several other government officials also discussed Montenegroโs options in terms of the blockchain industry, as reported by local news outlet Mina. One important aspect brought up was how to regulate crypto for his citizens.
Minister Spajiฤ stated that he wishes his country to be strict on criminals in the industry, but feels fairness would stimulate growth and โreduce the gray economy in all areas.โ He added:
“Montenegro strives to become a center of innovation in blockchain technology with an emphasis on all the advantages of a legitimate industry that will bring attractive regulations.โ
Montenegroโs government is now starting to dig into the complicated regulatory entanglements that come from integrating blockchain technology into its various systems.
During the Future Now! event, the panelists focused on the issue of how people can legally create a community using blockchain and legally verify their identity and stay protected against identity theft. Mamlyk suggested that decentralized autonomous organizations (DAO) could issue DAO tokens for people to prove their identity as a member while protecting their privacy. However, Buterin said โthere is no magic one-line principleโ that can deal with bad actors.
Related: DAO regulation in Australia: Issues and solutions, Part 2
When asked about whether Montenegro should allow companies to register as DAOs, Buterin referred to Wyoming which recognizes DAOs as legal entities. He said that such an application of decentralized governance is a โgood first stepโ and may be โa good place to startโ for Montenegro.
