The Tron blockchain is now the national blockchain of the Commonwealth of Dominica, with the official token for transactions set to the Dominica Coin (DMC).
On October 7, the Prime Minister’s office released a press statement announcing the collaboration between Dominica and Tron.
The statement reads: “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. TRON Protocol is one of the leading global blockchain platforms, known for its efficient and cost-effective crypto settlement system.”
Tron founder and TronDAO also announced the news on Twitter.
With Tron-based assets granted tender status, the country now also accepts Tron (TRX), BitTorrent Token (BTT), Just (JST), APENFT (NFT), USDD, USDT, and TUSD as authorized forms of payment for all national services, including taxes.
To this effect, companies have also been advised to accept native Tron tokens in exchange for their services, with trades not being subject to capital gains tax. That way, the market will freely establish the exchange rate between TRX and the East Caribbean Dollar (XCD).
“Dominica is committed to building a more inclusive and diversified economy with the help of new technologies. The open and cost-effective nature of the TRON blockchain infrastructure will play a vital role to better integrate Small Island Developing States like Dominica into the global economy in the future,” said Prime Minister, Roosevelt Skerrit.
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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