The popular Tron blockchain is now the National Blockchain of the Commonwealth of Dominica. Tron would play a crucial role in issuing the Dominica Coin (DMC), a blockchain-based fan token.
On October 7, the Prime Minister’s office released a press statement announcing the collaboration between Dominica and Tron.
The new alliance marks a key step in the country’s push to promote economic growth by embracing digital innovation and naming Tron Protocol as its authorized national blockchain infrastructure, according to an announcement from Dominica.
The government has given Tron permission to issue DMC, a blockchain-based fan token meant to assist raise awareness of Dominica’s natural heritage and tourist attractions.
Along with issuing DMC, the partnership has granted legal tender status to Tron-based assets in the country. As a result, Dominica now accepts Tron (TRX), BitTorrent Token (BTT), Just (JST), APENFT (NFT), USDD, USDT, and TUSD as forms of payment.
Additionally, the government has said that it will accept native tokens to Tron for all public payments, including taxes.
Companies have been advised to accept native Tron tokens in exchange for their services. Trades between the two assets will not be subject to capital gains tax, and the market will freely establish the exchange rate between TRX and the East Caribbean Dollar (XCD).
With more than 115 million users and 4 billion transactions, Tron’s partnership with Dominica opens up a variety of use cases and lays a solid foundation for future growth.
Tron founder Justin Sun noted “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. We hope it is the first of many technological partnerships with sovereign governments to come.”
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