Dominica chooses TRON as its national blockchain to issue the country’s official currency
Roseau, Dominica, October 12, 2022, Chainwire
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.
“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,” said Prime Minister of Dominica, Dr. Roosevelt Skerrit.
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 envisioned by their prime minister, 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. “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,” affirmed Prime Minister Roosevelt Skerrit.
As 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, hoping to increase their engagement in the wider global economy. “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,” Sun said. “We hope it’s the first of many technology 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 4 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 Sunthe TRON network has continued to deliver impressive performances since the MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services with over 100 million monthly active users. The TRON network has received an incredibly good impression in recent years. As of October 2022, it has over 115 million total user accounts on the blockchain, more than 4 billion total transactions, and over $13.2 billion in total value locked (TVL), as reported on THRONE SCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin worldwide, overtaking 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 oversecured decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first ever crypto reserve for the blockchain industry – TRON DAO Reservewhich marks TRON’s official entry into decentralized stablecoins.
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