Justin Sun quits Tron to become WTO ambassador for Grenada

Justin Sun has announced he is stepping down from his role as CEO of the Tron Foundation and is joining the government of Grenada as its new full-time ambassador to the World Trade Organization.

Sun said it would be an honour to serve as the WTO ambassador for Grenada, and added he is looking forward to the opportunity to “represent Grenada and work with WTO leadership to reinvigorate global trade in various ways, particularly the development of a robust digital economy internationally”.

According to the report, Sun’s proficiency within the blockchain industry will give so much needed boost to the regional economy, especially since Grenada and CARICOM (the Caribbean Community) has been hit hard with a tourism shutdown due to Covid-19.

Tron’s spokesperson confirmed Sun won’t be paid for this position, and added that one of Sun’s goals is to represent and make blockchain mainstream by bringing it to the global political arena via the WTO.

Sun noted Grenada has several advantages for blockchain-related businesses and could become “a hotbed” of future blockchain developers.

He also stressed that if the legitimisation of the blockchain industry in countries such as Grenada proves to be a success, it might prompt the US and China to hurry with their blockchain efforts as well.

Grenada already has crypto pilot programme

Grenada, however, still does not have any specific legislation to regulate cryptocurrencies.

It has, however, signed up to participate in the ECCB pilot, which will test the use of cryptocurrencies alongside the country’s national currency.

In March, the Eastern Caribbean created its own form of digital currency dubbed ‘DCash’, meant to help speed transactions and serve people without bank accounts.

DCash serves as the first blockchain-based currency introduced by any of the world’s currency unions, though some individual nations have similar existing systems.

The year-long pilot programme is now available in four island nations: St Lucia, Grenada, Antigua and Barbuda, and St Kitts and Nevis.