The Marshall Islands is an island nation in the Pacific which has no central bank, no unique currency, and uses the US Dollar as its de facto official currency. In 2018, the Marshall Islands put forward a proposal to replace the US Dollar with a new, blockchain-based digital currency called the SOV as their only legal tender. This currency is notably different from widely available crypto-currencies as it is a new currency made by the Marshall Islands, and it has a fixed rate of inflation in perpetuity.