Crucial breakthrough in history of blockchain in the Caribbean

The Government of Dominica has entered into an agreement with TRON as its official blockchain provider.

TRON, which is one of the world’s three largest public blockchains with in excess of 115 million users with over four billion transactions and more than US$50 billion in assets, got the greenlight following Dominica’s passage of its Virtual Assets Business legislation in May 2022.

Dominica has also appointed TRON Protocol as its designated national blockchain infrastructure, claiming that the platform is “renowned for its efficient and cost-effective crypto settlement system”.

In the meantime, TRON has obtained the government’s endorsement to issue Dominica Coin, a blockchain-based fan token.

Fostering development of the digital economy

This agreement is to date, the highest level of cooperation between a sovereign state and a blockchain platform. This cements TRON’s legal status as the national blockchain infrastructure of Dominica and its role in fostering development of the digital economy.

This high-level collaboration between TRON and Dominica, which was announced on the Government of Dominica official website, marks a crucial breakthrough in the history of blockchain in the Caribbean. TRON is expected to pioneer a model for sovereign states to develop the blockchain industry.

Industry experts say this alliance will provide an excellent model for small and medium economies to develop the digital economy. Dominica Prime Minister Roosevelt Skerrit has set a high value on this partnership.

According to him, the Government of Dominica has been committed to building a more inclusive and diversified economy with the help of new technologies. Benefiting from TRON’s openness and cost-effectiveness, Small Island Developing States such as Dominica will be better integrated into the global economy in the future.

Founded by Justin Sun in 2017, TRON is dedicated to building the next-generation infrastructure for the global Internet and finance.

He was appointed the new Ambassador and Permanent Representative of the Government of Grenada to the WTO at the end of 2021, and in June 2022, he attended the WTO’s 12th Ministerial Conference (MC12) in Geneva, Switzerland as head of the Grenada delegation.