With effect from August 1st, 2023, TRON DAO, also known as TRON, is pleased to announce its associate membership in the Japan Cryptoasset Business Association (JCBA). TRON is steadfast in encouraging cooperation and collaboration with other JCBA members in its capacity as a significant global blockchain entity, with the aim of accelerating the growth of the cryptocurrency industry not only in Japan but also throughout the rest of Asia.
Since September 2017, Justin Sun has been leading the TRON Decentralized Autonomous Organization, which was created in May 2018. The organization is committed to using blockchain technology and dApps to hasten the decentralization of the internet. Over the years, they have made significant strides regarding this mission; most notable is their integration with BitTorrent in July 2018. A leading company in Web3 services, BitTorrent has an impressive user base consisting of more than 100 million active users each month.
TRON has seen exceptional growth, evidenced by its impressive 179.07 million active accounts and 6.26 billion transactions as of August 2023. According to TRONSCAN, this activity adds up to a grand total value locked (TVL) of more than $13.01 billion. Furthermore, since April 2021, TRON’s USD Tether (USDT) stablecoin has become the world’s most widely circulating digital asset, surpassing all other USDT tokens based on Ethereum and solidifying its position at the forefront of blockchain technology.
In December 2021, the TRON network achieved a major milestone when it became fully decentralized and was administered by a DAO (Decentralized Autonomous Organization). October 2022 saw an unprecedented event, with TRON becoming the Commonwealth of Dominica’s official national blockchain. This collaboration marked the first instance in which a noteworthy public blockchain cooperated with a sovereign state to create and refine its own native blockchain system. Additionally, this partnership spurred the emergence of Dominica Coin, which is a fan token based on blockchain technology created to raise Dominica’s global visibility.
Seven digital currencies and mediums of exchange that use the TRON blockchain, such as TUSD, BTT, TRX, NFT, USDD, JST, and USDT, have now been granted legal status in Dominica as authorized forms of payment. This is another sign of how influential TRON has become.
The Japan Cryptoasset Business Association (JCBA), which was founded in 2016, serves as a key organization within the Web3 ecosystem. Its goal is to foster an environment that will support the development of digital assets, including cryptocurrencies, non-fungible tokens (NFTs), and stablecoins. One hundred thirty-four organizations from both traditional and Web3 industries, both domestically and abroad, are currently members of the JCBA.
TRON is prepared to deepen its ties with the Japanese market through its recently acquired associate membership with JCBA. The partnership is expected to make a significant contribution to JCBA’s overarching vision of fostering growth and innovation within the cryptocurrency industry by utilizing TRON’s effective network and sizable user base.
In summation, TRON’s partnership with the Japan Cryptoasset Business Association represents an important step toward fostering cooperation within the Asian crypto landscape. By utilizing its knowledge and broad influence, TRON paves the way for more developments in blockchain technology and the global cryptocurrency market.