Dominica Partners with TRON to Launch Dominica Coin

Dominica Partners with TRON to Launch Dominica Coin
  • TRON and Dominica have partnered to launch the country’s token called Dominica Coin.
  • Dominica seeks to boost their tourism by using the blockchain-based fan token.
  • Justine Sun, the founder of TRON, seeks to spread the company’s technology in Caribbean regions.

The Commonwealth of Dominica, an island country in the Caribbean, has partnered with the leading public blockchain TRON to develop and launch the Dominica Coin (DMC).

In the recent announcement tweet, TRON’s team said it’s the first time a major public blockchain has partnered with a sovereign nation to create the country’s blockchain infrastructure.

Earlier this year, Dominica passed the Virtual Asset Business Act in Parliament, adding a new layer to the Island’s fintech transformation. The partnership signifies a “historic step” for the Eastern Caribbean nation’s drive to boost its economic growth by adopting “digital innovation.”

The Dominica Coin is a blockchain-based fan token designed to provide membership benefits to its holders, such as holders’ perks, access to exclusive content, prizes, experiences, and voting decision rights. The coin aims to lift the acknowledgment of Dominica’s natural heritage and to encourage tourist attractions worldwide.

Using this token, Dominica’s Prime Minister Dr. Roosevelt Skerrit seeks to promote the country’s tourism paradise by welcoming more than just Caribbean regions. He said:

 “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.”

Meanwhile, TRON’s founder Justin Sun said the firm was “delighted” with the trust that Dominica gave to them. In addition, the founder is looking for more “technological partnerships with sovereign governments.”

Furthermore, the price of TRON’s native token (TRX) slightly increased after the announcement. At the time of writing, TRON is trading at $0.06347, up 2.86% in the last 24 hours, according to CoinMarketCap.

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Bryan is a gamer who became genuinely interested in crypto after his initial exposure to Play-to-Earn games like Axie Infinity and Pegaxy. He has basic knowledge of technical analysis and is keeping an eye out for interesting developments in the metaverse and GameFi space.