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Private Sector Initiative

Definition

A Private Sector Initiative refers to a project, program, or development undertaken by non-governmental businesses or organizations, rather than by public bodies. In the digital asset sphere, this includes the creation of new cryptocurrencies, the development of decentralized applications, and the establishment of blockchain consortia. These initiatives are typically driven by market demand, innovation, and the pursuit of commercial opportunities. They play a vital role in shaping technological advancement and economic growth.