The government of Dominica has collaborated with blockchain platform TRON, in what is being called the highest level of cooperation between such an enterprise and a sovereign state.
On the heels of the Virtual Asset Business Act passed in Parliament earlier this year, plans are in effect for TRON to issue the Dominica Coin (DMC).
The Dominica Coin (DMC), a blockchain-based fan token, is aimed at increasing the awareness of the country’s heritage as well as its global presence as a tourist attraction.
According to Prime Minister Skerrit, the Dominica government “is committed to constructing a more inclusive and diversified economy with the aid of emerging technology.”
The Prime Minister went on to acknowledge “the open and cost-effective nature of the TRON blockchain infrastructure” as a favorable factor in the decision to embrace this innovation.
TRON is among the top three largest public blockchains in the world, bolstering the odds that as Dominica’s national blockchain infrastructure this pioneering venture will serve as a blueprint for the development of the digital economy in small and medium economies.
H. E. Justin Sun, Permanent Representative of Grenada to the World Trade Organization and Founder of TRON, expressed hope that this “is the first of many technological partnerships with sovereign governments to come.”
“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.
As for Skerrit, he described the partnership in effusive terms.
“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,” he stated.
This is not the first time Dominica has been associated with a crypto currency.
In 2014, rumours had begun to circulate that Dominica would be the first country in the world to use the crypto currency on such a large scale. That crypto currency was bit coin.
Dr. Kenneth Darroux, minister for the Environment and Physical Planning at the time, was identified by several websites as being the main contact for the potential deal.
Initially the government provided no comment on the matter, but Darroux broke the silence in 2015 indicating that discussions were held but “…there was no formal proposal put forward by the developers or the potential businessmen to the government really on the Bitcoin issue.”