Dominica and St Maarten to adopt Tron as legal tender

[pmbug]

Geneva, Switzerland — Jan. 25, 2023 — Tron may soon be officially adopted by the government of the eastern Caribbean island of St. Maarten. Member of Parliament (MP) Rolando Brison, the leader of the United People’s Party and second vice chairman of St. Maarten’s parliament, has been outspoken for some time now about the benefits of blockchain technology and cryptocurrency for the people and the economy of his homeland. He has now initiated the proposal of a law to designate the Tron protocol as the country’s blockchain infrastructure and the Tron-based cryptocurrency, TRX, as legal tender for everyday use.
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On Jan. 23, 2023, the Saint Martin News Network (SMN-N) highlighted MP Brison’s declaration to advance a law that would officially make Tron and Tron-based cryptocurrencies part of St. Maarten’s local commerce and economic infrastructure. SMN-N noted MP Brison’s intention was not to “re-invent the wheel,” but rather to follow the example of St. Maarten’s southern neighbor Dominica.

In October 2022, the Commonwealth of Dominica officially announced the adoption of seven Tron-based cryptocurrencies as legal tender, along with the designation of Tron as its national blockchain, following the passage of the Virtual Asset Business Legislation in May 2022, which the Eastern Caribbean Central Bank assisted in drafting. Brison is now working to translate “the law in a manner that fits our Dutch legal system and local economy,” SMN-N reported.
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Member of St. Maarten’s parliament initiates law to adopt Tron as legal tender

Tron may soon be officially adopted by the government of the eastern Caribbean island of St. Maarten

cointelegraph.com

 

[nickndfl]

If governments were not corrupt and the currency was sound there would be no need for an alternative. They should mint gold and silver coins for circulation instead. Think back to when monetary policy was not as political and gold coins like Swiss francs and USA Liberties circulated while silver coinage was used most of the time when change was needed.

Problem is if they do that then who would accept their toilet paper in exchange?

 

[pmbug]

In this particular case, it seems like the push to make Tron legal tender stems from a desire to attract foreign investment in building a crypto industry. I find it fascinating that more and more countries are experimenting with dual currencies whether crypto (Tron and Bitcoin) or gold bullion. If this trend continues, I hope it helps Americans realize the potential benefit of letting gold and silver coin run parallel with the Fed's dollar while also dispelling fears.

 

[nickndfl]

It's de-dollarization increasing momentum. When the Saudis start selling dollars that it the signal, but it doesn't hurt to be early.

 

[Goldhedge]

Better to be one day early than one day late!

 

[Cigarlover]

If governments were not corrupt and the currency was sound there would be no need for an alternative. They should mint gold and silver coins for circulation instead. Think back to when monetary policy was not as political and gold coins like Swiss francs and USA Liberties circulated while silver coinage was used most of the time when change was needed.

Problem is if they do that then who would accept their toilet paper in exchange?

Governments can't have sound money. What would happen to all those living off the system on their social programs? They need this fiat to buy votes and create wars and stuff.
Look at the current stats. 3% unemployment with 130 million people working. Thats 220 million not working. Some are students and some retirees. Not 220 million of them though. Lots of them getting a check from the gov. Take those checks away, Take away section 8 and food stamps and all the other welfare programs. Fun times.

 

[pmbug]

... 3% unemployment with 130 million people working. Thats 220 million not working. ...

Uh...

(it's ~4 million not working)