Dominica adopts TRON cryptocurrency

The Government of Dominica announced that it had reached an agreement with TRON, designating the TRON Protocol as the country’s national blockchain infrastructure.

TRON has secured the government’s approval to issue Dominica Coin (DMC), a blockchain-based fan token, to promote Dominica’s global popularity for its natural heritage and tourist attractions while fostering economic expansion. This deal is the highest level of cooperation between a sovereign state and a blockchain platform, establishing TRON as Dominica’s national blockchain infrastructure. Industry analysts viewed this action favourably and said that such an alliance would serve as a model for the development of the digital economy in small and medium-sized economies.

Dominica’s prime minister, Roosevelt Skerrit, said, “the government is committed to constructing a more inclusive and diversified economy with the aid of emerging technology.” Future integration of Small Island Developing States such as Dominica into the global economy will be facilitated by TRON’s openness and efficiency.

Dominica is no exception to the trend of Caribbean nations actively embracing blockchain and cryptocurrencies as the area becomes a global leader in blockchain adoption.

In May 2022, the Parliament passed the Virtual Assets Business Act. Local leaders anticipate that the measure will provide new job, trade, and investment opportunities, sparking an economic transformation and holistic development for Dominica.

TRON is one of the three largest public chains in the world. As of the time of writing, the number of blockchain users has surpassed 115 million, with over 4 billion transactions and more than $50 billion in assets. With its skills and experience in the digital economy, TRON will be able to aid the Dominican government in technological development and crypto user acquisition through this partnership.