TRON protocol has signed a key deal with the Government of Dominica to be its designated national blockchain infrastructure, according to a press release. The cooperation 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 on a worldwide scale, TRON has received the government’s approval to launch Dominica Coin [DMC], a blockchain-based fan token, in accordance with the P.A.
Speaking on the historic deal, Prime Minister Roosevelt Skerrit stated, “The open and cost-effective nature of the TRON blockchain infrastructure will play a vital 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 deal with issues including dollarization and reliance on international trade and remittances that are common to many small economies.
De-risking, a banking strategy that is becoming more and more popular, is also having a negative impact. Therefore, it is probably not a coincidence that the area is leading in the adoption of 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 The Default Blockchain For Global Settlements- Justin Sun
Sun also mentioned a number of GameFi development prospects on the TRON network. He cites that the blockchain’s collaboration with Binance and Chainlink on various assets, like the USDD stablecoin, has made these potentials possible.
Sun urged participants to follow their passions rather than be afraid of making errors. He continued by saying that as long as Web3 players uphold their commitment to online decentralization, widespread adoption would occur.
He added that TRON might eventually replace Bitcoin as the primary blockchain for global settlements.
Recently, Sun expressed interest to buy shares of embattled investment bank Credit Suisse and bring it to web3, TronWeekly reported.
TRON is a decentralized blockchain-based digital platform that was founded in 2017. Its sole objective is to host a global entertainment system for the reasonably priced exchange of digital content.
The asset gained entry in a Luxembourg-Based Exchange Blockchain.com for trading as well as earning rewards in the platform’s wallet.