{"id":26160,"date":"2022-10-14T16:38:18","date_gmt":"2022-10-14T11:08:18","guid":{"rendered":"https:\/\/coinswitch.co\/switch\/?p=26160"},"modified":"2022-10-14T21:29:09","modified_gmt":"2022-10-14T15:59:09","slug":"dominican-republic-taps-blockchain-to-boost-economy","status":"publish","type":"post","link":"https:\/\/coinswitch.co\/switch\/news\/dominican-republic-taps-blockchain-to-boost-economy\/","title":{"rendered":"Dominican Republic taps blockchain to boost economy"},"content":{"rendered":"

The government of Dominica, a tiny Caribbean island, announced that it has tied up with Tron to launch Dominica Coin, a fan token, to boost the country\u2019s economy. Under the agreement, Tron Protocol has been designated as Dominica\u2019s national blockchain infrastructure that will help promote the nation\u2019s rich cultural heritage. The announcement was made in a press release<\/a>.<\/p>\n

Tron will issue Dominica Coin (DMC), which will be a blockchain-based fan token. Fan tokens are a type of crypto token that provides exclusive membership benefits and are generally associated with sports teams, brands, and other groups. The holder of the token is entitled to membership perks, exclusive content, and other benefits.<\/p>\n

This is the first time a country is launching a fan token. However, this is not an isolated development as many countries are experimenting with blockchain-based solutions to shore up their economies. The launch of Dominica\u2019s fan token will help bring Tron and blockchain closer to the wider world and showcase how nations can benefit from blockchains.<\/p>\n

A statement from Prime Minister Roosevelt Skerrit said: \u201cDominica 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, developing states like Dominica into the global economy in the future.\u201d<\/p>\n

The country is known for its beaches, resorts, and golfing and has many natural attractions, including the UNESCO-recognized world heritage site Morne Trois Pitons National Park.<\/p>\n

The legislation that enabled the government of the Commonwealth of Dominica to sign the agreement with Tron is the Virtual Assent Business Legislation passed in May 2022. Interestingly, neighboring Caribbean regions such as St Kitts, Antigua and Barbuda have also enacted similar laws.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government of Dominica, a tiny Caribbean island, announced that it has tied up with Tron to launch Dominica Coin, a fan token, to boost the country\u2019s economy. Under the agreement, Tron Protocol has been designated as Dominica\u2019s national blockchain infrastructure that will help promote the nation\u2019s rich cultural heritage. The announcement was made in […]<\/p>\n","protected":false},"author":67,"featured_media":26161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_ayudawp_aiss_exclude":false,"footnotes":""},"categories":[7701],"tags":[6467,6536],"class_list":["post-26160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-news"],"acf":{"json_ld_schema":"\n[{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#FAQPage\",\"headline\":\"Wall Street jottings: A personal, guided tour to investing in US stocks\",\"keywords\":\"Personal Guide, US Investing, \",\"datePublished\":\"2022-07-22T13:28:55+05:30\",\"dateModified\":\"2022-09-19T19:04:28+05:30\",\"dateCreated\":\"2022-07-22T13:28:55+05:30\",\"author\":{\"@type\":\"Person\",\"name\":\"Deepan Datta\",\"description\":\"A keen observer of the crypto market and believes crypto\/blockchain will bring the next phase of the industrial revolution and build an inclusive society.\",\"url\":\"https:\/\/coinswitch.co\/switch\/author\/deepan\/\",\"sameAs\":[],\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/ea29018d03e4615947c5df3ce7b4030b?s=96&d=mm&r=g\",\"height\":96,\"width\":96}},\"image\":[{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/coinswitch.co\/switch\/us-stocks\/wall-street-jottings\/#primaryimage\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings.jpg\",\"width\":\"1800\",\"height\":\"1080\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x900.jpg\",\"width\":\"1200\",\"height\":\"900\"},{\"@type\":\"ImageObject\",\"url\":\"https:\/\/coinswitch.co\/switch\/wp-content\/uploads\/2022\/07\/Wall-Street-Jottings-1200x675.jpg\",\"width\":\"1200\",\"height\":\"675\"}]}]\n","json_ld_custom_schema":"","key_takeways":false,"youtube_vodeo_url":"","seo":{"title":"","keywords":"","description":"","canonical":""},"blog_banner_image":false,"blog_coin":false,"download_the_app":{"button_value":"","button_url":""},"twitter_card":{"twitter_title":"","twitter_description":"","twitter_link":""},"maturity_tag":"","post_author":false,"guest_author":false,"hide_toc":true,"select_disclaimer":"Article Default Disclaimer"},"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/comments?post=26160"}],"version-history":[{"count":6,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26160\/revisions"}],"predecessor-version":[{"id":26178,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/posts\/26160\/revisions\/26178"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media\/26161"}],"wp:attachment":[{"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/media?parent=26160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/categories?post=26160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinswitch.co\/switch\/wp-json\/wp\/v2\/tags?post=26160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}