TRON Becomes The National Blockchain Of Dominica

The Commonwealth of Dominica has taken a major step toward crypto adoption, making TRON – an Ethereum-killer – its official blockchain, and aims to issue the Dominica Coin (DMC) in partnership with the blockchain network.

The DMC is a fan token that will be issued on the TRON network to promote the cultural heritage of the nation along with its tourist attractions on a worldwide scale.

A statement shared with Benzinga on Wednesday called it a crucial development for the Eastern Caribbean nation which recently passed the Virtual Asset Business Act in Parliament for regulation of crypto markets.

“This is a historic step for Dominica in its drive to enhance economic growth by embracing digital innovation and appointing TRON Protocol as its designated national blockchain infrastructure,” said Dominica’s Prime Minister Dr. Roosevelt Skerrit.

“Its [DMC’s] creation marks a milestone in Dominica’s journey toward the future their Prime Minister envisioned, one that includes strong infrastructure, a more diversified agricultural footprint, and innovative developments to welcome entrepreneurial imagination,” said the statement.

Moreover, the prime minister believes that the “open and cost-effective nature of the TRON blockchain infrastructure” of the TRON blockchain will play a crucial note in painting a better picture of Small Island Developing States like Dominica on the global map.

“The TRON team and myself are delighted that Prime Minister Roosevelt Skerrit trusts TRON to develop the blockchain infrastructure that will empower their participation in the decentralized financial future,” said Justin Sun, the Permanent Representative of Grenada to the World Trade Organization and founder of TRON.

However, Dominica is not the only nation to come up with the concept of issuing a token. The world’s second country to adopt Bitcoin as legal tender, the Central African Republic (CAR), debuted the Sango blockchain earlier this year and also confirmed the creation of the Sango Coin and a zero-taxation “crypto-hub.”

“Sango Coin will give the whole world direct access to our resources,” attracting investors and “getting the engines of the economy going,” said President of the CAR, Faustin Archange Touadera.


Source link

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *