Blockchain

TRON Selected By Dominica As Its National Blockchain

TRON (TRX), one of the most prominent public blockchains, collaborates with the Commonwealth of Dominica to create and distribute the Dominica Coin (DMC). The collaboration marks a watershed moment for the Eastern Caribbean nation, which enacted the Virtual Asset Business Act in Parliament earlier this year.

According to a news statement issued by TRON on October 12, the Commonwealth of Dominica is launching the DMC in collaboration with the TRON Protocol after the nation enacted the Virtual Asset Business Act in its Parliament earlier in 2022.

The coin’s objective is to help promote the country as a site with high tourism potential and rich natural heritage, hence boosting economic development. Dominica’s Prime Minister Roosevelt Skerrit commented on the situation, explaining what it means for his country:

“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.”

It is worth mentioning that the blockchain relationship with the Caribbean state has also resulted in the formal acceptance of the blockchain-issued digital currencies as a means of exchange in Dominica.

According to Justin Sun, all digital assets generated on the blockchain have been granted statutory status as authorized digital currency and medium of exchange in Dominica, and he has posted an official certificate to prove it.

Meanwhile, the total number of transactions on the blockchain recently topped 4 billion, after allegations that its founder was the true purchaser of crypto exchange Huobi, while Justin Sun himself announced his position as a member of the exchange’s Global Advisory Board.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.