TRON has partnered with the Commonwealth of Dominica to launch the Dominica Metaverse, a digital identity initiative that includes the Dominica Digital Identity (DDID) and Dominica Coin (DMC) programs. As a leader in Metaverse innovation, the partnership is significant as it recognizes Dominica’s potential to transform businesses and everyday life through groundbreaking technology.
TRON will oversee, execute, and facilitate the issuance of DDID and DMC, recognizing digital identity as a crucial aspect of Web 3.0.
The TRON network has gained tremendous momentum since its launch in May 2018, with over 145 million total user accounts on the blockchain, more than 5 billion total transactions, and over $11 billion in total value locked (TVL).
The TRON network also hosts the largest circulating supply of USD Tether (USDT) stablecoin globally, surpassing USDT on Ethereum since April 2021.
TRON is a community-governed DAO that aims to accelerate the decentralization of the internet via blockchain technology and dApps.
TRON completed full decentralization in December 2021, and in May 2022, the decentralized stablecoin USDD was launched on the TRON blockchain, backed by the first-ever crypto reserve for the blockchain industry – TRON DAO Reserve.
In October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, becoming the first major public blockchain to partner with a sovereign nation to develop its national blockchain infrastructure. Seven TRON-based tokens, including TRX, BTT, NFT, JST, USDD, USDT, and TUSD, have been granted statutory status as authorized digital currency and a medium of exchange in the country.
The Dominica Coin will be a blockchain-based fan token to promote Dominica’s global fanfare. This digital identification project is a significant milestone for Dominica, marking the first Web 3 initiative since the passage of its Crypto Ordinance in 2021.
The partnership with TRON recognizes the potential for Dominica to lead the way in this transformative technology and advance the digital economy for the country.