TRON Chosen as Dominica’s National Blockchain; Set to launch the DMC token
The TRON protocol has signed a key agreement with the government of Dominica to be its designated national blockchain infrastructure, according to a press release. The partnership was established following the Caribbean island nation’s approval of Virtual Asset Business legislation in May 2022.
To support Dominica’s efforts to raise awareness of its natural heritage and tourist attractions worldwide, TRON has received government approval to launch the Dominica Coin [DMC]a blockchain-based fan token, compliant with PA
Speaking about the historic agreement, Prime Minister Roosevelt Skerrit stated: “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 banking industry is in a dire state in the Caribbean region. The 35 nations that make up the region are dealing with issues that include dollarization and dependence on international trade and remittances common to many small economies.
De-risking, a banking strategy that is becoming more and more popular, also has a negative impact. Therefore, it is probably no coincidence that the area is a leader when it comes to adopting digital currencies.
Not long ago, Tron founder turned permanent representative of Grenada Justin Sun went to the Milken Institute Asia meeting in 2022, where he gave his thoughts on matters involving cryptographic technologies.
TRON to be standard blockchain for global settlements – Justin Sun
Sun also mentioned a number of GameFi development opportunities on the TRON network. He cites that the blockchain’s collaboration with Binance and Chainlink on various assets, such as the USDD stablecoin, has made these potentials possible.
Sun encouraged the participants to follow their passions instead of being afraid of making mistakes. He went on to say that as long as Web3 players maintain their commitment to online decentralization, widespread adoption will happen.
He added that TRON may eventually replace Bitcoin as the primary blockchain for global settlements.
Recently, Sun expressed interest in buying shares in troubled investment bank Credit Suisse and bringing it to web3, TronWeekly reported.
TRON is a decentralized blockchain-based digital platform founded in 2017. Its sole goal is to host a global entertainment system for the affordable exchange of digital content.
The asset was admitted to a Luxembourg-based Exchange Blockchain.com for trading and to earn rewards in the platform’s wallet.
