Dominica chooses TRON as its national blockchain to issue the country’s official currency

by Arthur · October 14, 2022

October 12, 2022 – Roseau, Dominica

TRON, one of the leading public blockchains, is partnering with the Commonwealth of Dominica to develop and issue the Dominica Coin (DMC). The partnership represents a crucial step forward by the Eastern Caribbean nation, which passed the Virtual Asset Business Act in parliament earlier this year.

Dr. Roosevelt Skerrit, Prime Minister of Dominica, said:

“This is a historic step for Dominica in its efforts to boost economic growth by embracing digital innovation and naming the TRON protocol as its designated national blockchain infrastructure.”

DMC is a blockchain-based fan token intended to raise awareness of Dominica’s natural heritage as well as help promote its tourist attractions on a worldwide scale.

The creation marks a milestone in Dominica’s journey towards the future their Prime Minister envisioned – one that includes strong infrastructure, a more diversified agricultural footprint and innovative developments to welcome entrepreneurial imagination.

Traditionally a tourism haven, their new vision seeks to welcome more than just visitors to their Caribbean region.

Skerrit added,

“The open and cost-effective nature of the TRON blockchain infrastructure will play an important role in better integrating small island developing states like Dominica into the global economy in the future.”

As the Permanent Representative of Grenada to the World Trade Organization and founder of TRON, HE Justin Sun promotes the development of e-commerce and blockchain technology in the Caribbean regions in hopes of increasing their engagement in the wider global economy.

Sun said,

“The TRON team and I are delighted that Prime Minister Roosevelt Skerrit trusts TRON to develop the blockchain infrastructure that will empower their participation in the decentralized economic future. We hope it is the first of many technological partnerships with sovereign governments to come.”

Championing Dominica’s vision for their future was an exciting commitment for TRON to make. This is the first time a major public blockchain has partnered with a sovereign nation to develop its national blockchain infrastructure.

As one of the major public blockchains, with more than 115 million users and four billion transactions, TRON’s partnership with Dominica enables a variety of usage scenarios and provides a strong foundation for future success.

About TRON DAO

TRON DAO is a community-run DAO dedicated to accelerating the decentralization of the internet via blockchain technology and DApps.

Founded in September 2017 by HE Justin Sun, the TRON network has continued to deliver impressive performance since its mainnet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web 3.0 services, with over 100 million monthly active users .

The TRON network has gained an incredibly good hold in recent years. As of October 2022, it has over 115 million total user accounts on the blockchain, more than four billion total transactions and over $13.2 billion in TVL (total value locked), as reported on TRONSCAN.

In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoins worldwide, surpassing USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO.

Most recently, the over-secured decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first ever crypto reserve for the blockchain industry – TRON DAO Reserve, marking TRON’s official entry into decentralized stablecoins.