Dominica chooses Tron to launch its fan token called Dominica Coin

The Dominica government has recently announced a collaboration with the smart contract blockchain platform Tron to launch Dominica Coin (DMC), a token that supports the cultural and natural heritage of the Caribbean country.

The DMC token, created on the Tron network, will make use of fan token principles. Usually, fan tokens are associated with sports such as the color and design of the jerseys. 

The government of Dominica announced the initiative in a press release, saying it will “help promote Dominica’s global fanfare for its natural heritage and tourism attractions.” This is the first time a nation has ever issued fan tokens.

Tron becomes the national blockchain for Dominica

The press release by Roosevelt Skerrit, the prime minister of Dominica, 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.”

The Tron blockchain is referred to in the announcement as “one of the leading global blockchain platforms, known for its efficient and cost-effective crypto settlement system.”

It is interesting to note that The Morne Trois Pitons National Park, a UNESCO World Heritage Site, is one of the many exceptional natural wonders that Dominica has to offer. The second-largest hot lake in the world, Boiling Lake, is also located in the country’s national park.

The launch of Dominica’s token on Tron is not the only development by the nation. It has considerably wider implications when examined in a larger policy framework.

Similar to Dominica, Thailand Tourism Authority is also working towards spreading awareness about its rich cultural and natural heritage using Blockchain-based utility token. Last year, as TheCoinRise reported, the governor of the agency said “crypto is the future.”

Aiming to grow its gross domestic product (GDP) and target crypto enthusiast and nomads, Thailand’s government is working on bringing their own token called TAT.