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Dominica selects TRON to issue its national cryptocurrency

By:
on Oct 12, 2022
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  • TRON is now the national blockchain infrastructure for the Commonwealth of Dominica.
  • The partnership between TRON and Dominica is for the development of a national cryptocurrency.
  • Dominica hopes to use the token to promote its national heritage and tourism.

Despite the ongoing crypto winter, blockchain technology continues to see unprecedented adoption across the world – right from leading mainstream companies to nation states.

One of the trajectories has been with countries looking to leverage the emerging technology to offer their own cryptocurrencies.

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The latest example that’s making headlines today across the cryptocurrency industry is the partnership between blockchain network TRON (TRX) and the Commonwealth of Dominica, a country in the Eastern Caribbean region.

Dominica picks TRON for its official national coin

On Wednesday, 12 October, the TRON team announced that Dominica had selected it as its national blockchain infrastructure.

As per the blockchain platform’s press release, the partnership will see TRON help develop the Dominica Coin (DMC). The collaboration comes months after the Dominican parliament passed the Virtual Asset Business Act earlier this year.

DMC will be a blockchain-based fan token, according to the announcement, and will be used in promoting the country’s natural heritage as well as tourism to the global community.

Commenting on the development, Dr. Roosevelt Skerrit, the Prime Minister of Dominica said:

“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.”

TRON’s partnership with Dominica is the first time a nation has chosen a leading public blockchain as its blockchain partner for the purpose of developing a national cryptocurrency.

TRON founder Justin Sun said:

“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 Sun. “We hope it is the first of many technological partnerships with sovereign governments to come.”

Sun also tweeted about the approval of TRON-based tokens, including TRX, BTT and USDT, as authorised digital currencies and medium of exchange in Dominica.