Dominica signs agreement with TRON, which will issue blockchain-based fan token

by Arthur · October 7, 2022

Roseau, Dominica: The government of the Commonwealth of Dominica has signed an agreement with TRON after the legislature passed the Virtual Assent Business legislation in May 2022.

The information was released through the statement of the Office of the Prime Minister of Dominica, adding that the Government of Dominica has entered into an agreement with TRON.

The government of Dominica called it a historic step and mentioned that the step would help boost economic growth in the country. It will also strengthen digital growth in the country, as it will act as a designated national blockchain infrastructure.

The statement from the government of Dominica outlines the significance of the step, “This is a historic step for Dominica in its efforts to increase economic growth by embracing digital innovation and naming the TRON protocol as its designated national blockchain infrastructure.”

The TRON protocol is known as one of the leading global blockchain platforms, and stands out as a tool for its efficient and cost-effective crypto settlement system.

The statement stated that TRON has received government approval to issue the Dominica Coin (“DMC”), a blockchain-based fan token, to help promote Dominica’s global fanfare for its natural heritage and tourist attractions.

The Prime Minister of Dominica, DR Roosevelt Skerrit, emphasized the importance of the new technologies, stressing that the government was always working to improve the economy with the help of new technologies.

He added, “Dominica is committed to building a more inclusive and diversified economy using new technologies. 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.

The government of Dominica has worked effectively for the development of the country. Despite being a small island nation, with various historical steps such as pledging to become the world’s first climate-resilient nation, building the climate-resilient nation, improving eco-tourism and efforts to meet sustainable goals, the country has emerged as the perfect example of the development path.