Dominica works with Huobi for a digital identity program
Dominica has launched a digital identity program and national token in partnership with Huobi.
New
Cryptocurrency exchange Huobi has partnered with the Commonwealth of Dominica to roll out a digital identity and national token service that promises digital citizenship for the Caribbean island nation.
Not to be confused with the neighboring and larger Dominican Republic, Dominica is home to some 72,000 people and is located in the middle of the Lesser Antilles archipelago. The government seeks to explore the metaverse and Web3 technology to boost its development and attract talent from the cryptocurrency and blockchain ecosystem.
The island nation is one of the first Caribbean countries to adopt a citizenship-by-investment program. Dominica passports allow access to over 130 countries worldwide, including Mainland China, Hong Kong, European Union, Switzerland, United Kingdom and Singapore.
The Government of Dominica will partner with Huobi to issue Dominica Coin (DMC) and Digital Identity Documents (DID) to DMC holders who will be granted digital citizenship in the country. DMC and DID will operate on the TRON network and be issued on Huobi Prime and serve as identifiers for a future Dominica-based metaverse platform.
Related: Caribbean Pioneers CBDCs with Mixed Results Despite Banking Struggles
DMC tokens will be cross-chain compatible with the Ethereum Smart Chain and BNB through the BitTorrent Chain Bridge. Registered Huobi Prime users are eligible for DMC and Dominica DID airdrop.
Dominica's primary use case for DIDs includes Know Your Customer (KYC) verification on cryptocurrency exchanges, opening bank accounts in Dominica, as well as applying for loans and digital business registration.
Huobi unveiled
Dominica has launched a digital identity program and national token in partnership with Huobi.
New
Cryptocurrency exchange Huobi has partnered with the Commonwealth of Dominica to roll out a digital identity and national token service that promises digital citizenship for the Caribbean island nation.
Not to be confused with the neighboring and larger Dominican Republic, Dominica is home to some 72,000 people and is located in the middle of the Lesser Antilles archipelago. The government seeks to explore the metaverse and Web3 technology to boost its development and attract talent from the cryptocurrency and blockchain ecosystem.
The island nation is one of the first Caribbean countries to adopt a citizenship-by-investment program. Dominica passports allow access to over 130 countries worldwide, including Mainland China, Hong Kong, European Union, Switzerland, United Kingdom and Singapore.
The Government of Dominica will partner with Huobi to issue Dominica Coin (DMC) and Digital Identity Documents (DID) to DMC holders who will be granted digital citizenship in the country. DMC and DID will operate on the TRON network and be issued on Huobi Prime and serve as identifiers for a future Dominica-based metaverse platform.
Related: Caribbean Pioneers CBDCs with Mixed Results Despite Banking Struggles
DMC tokens will be cross-chain compatible with the Ethereum Smart Chain and BNB through the BitTorrent Chain Bridge. Registered Huobi Prime users are eligible for DMC and Dominica DID airdrop.
Dominica's primary use case for DIDs includes Know Your Customer (KYC) verification on cryptocurrency exchanges, opening bank accounts in Dominica, as well as applying for loans and digital business registration.
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