The authorities of Montenegrin have started achieving their commitment to turn it into a center for blockchain advancement by reportedly providing citizenship to Vitalik Buterin (the creator of Ethereum). RTCB (a news outlet based in Montenegrin) reported that Zdravko Krivokapić (the Prime Minister of the country) recommended that Buterin should have the privilege to assist the Southeastern European country in promoting its endeavors to be categorized as a blockchain innovation center.

No official declaration was made in this respect, nonetheless, a photo was reportedly shared on the behalf of Milojko Spajić (the country’s Minister of Finance and Social Welfare) when the passport was acquired by Buterin. ETH (Ethereum) co-founder was hosted by Montenegro on 7th April at a panel discussion with Milojko Spajić as its host. The panelists in the discussion included Milojko Spajić, Boris Mamlyk (a law professor at the University of Memphis), and Vlad Zamfir (a researcher at Ethereum).

The panelists talked about the legitimacy of smart contracts and blockchain identity within the country’s jurisdiction along with the rest of the subjects. In a meeting on 4th April, Buterin, Krivokapić, as well as a few other officials within the government additionally debated the options of Montenegro regarding the industry of blockchain, as reported by Mina (a native new outlet). A significant factor that was highlighted dealt with the procedure for crypto regulation for residents.

Milojko Spajić mentioned his intention to make the country more stringent while dealing with the criminals across the industry, nevertheless, he considers that fairness would enhance the advancement along with minimizing the gray economy throughout the entirety of the regions under the jurisdiction of the country. The administration of Montenegro is presently delving deep into the complex regulatory complications that are generated by the integration of blockchain into diverse systems thereof.

In the discussion event, the focus of the panelists was on the problem of how a community can be formed by people with the utilization of blockchain as well as legal verification of their identity along with staying protected from identity theft. It was suggested by Mamlyk that the DAOs (decentralized autonomous organizations) could release DAO tokens to guarantee their identity that of a participant while shielding their privacy. But, Buterin stated that no miraculous principle exists that could outperform the malicious actors.