Dominica republic open doors to crypto ?
Dominica republic is a Caribbean island nation and the country's govt. is warming up to crypto.
TRX & USDT welcome in Dominica
As per news reports the government of Dominica republic may soon start accepting TRX and USDT as public payments.
What are these public payments ?
These are payments that include taxes and this provision is being made under a new ordinance.
Tron blockchains agreement with the govt.
blockchain network Tron has been roped in via an agreement with the govt. of Dominica.
As part of the initiative a fan token would be issued to promote Dominica republics heritage and tourism.
With this agreement
Tron protocol is the island nation's "designated national blockchain infrastructure." An ordinance issued on the same day shows that the Tron network's native digital tokens were granted "statutory status," meaning the tokens are now authorized for use as a medium of exchange in the country.
That sure is good news for tron and the govt is likely to accept tokens like TRX, BTT and JST, as well as stable coins pegged to the U.S. dollar on Tron's TRC20 protocol such as USDT & USDD, as payment for public services that includes tax payments.
Tron all set to issue the Dominica coin (DMC)
Dominica coin (DMC) would be a blockchain based fan token to be launched on the tron blockhain that would help promote Dominica's heritage and tourism as attractions.
Why tron made the cut ?
It is not very clear how and why tron was chosen as the blockchain of choice and the official partner and what were the parameters that won tron this prized contract as there are so many tokens, crypto's and blockchain that could have been suitable for the job.
It is crypto that wins
In the end it is crypto and blockchains that get entry into the republic and it remains to be seen what kind of financial stability and benefits the citizens get from this association.