In my previous post last week had mentioned about TRON coming up with a major announcement (https://www.publish0x.com/debscorner/justin-sun-coming-up-with-a-major-announcement-for-tron-xqkkxky) ; and Justin didn't wait for long and on Monday itself when the world resumed work after new year holidays he took on to twitter to make one of the biggest announcements in crypto space.
Today Justin announced TRON's partnership with People's Republic of China NDRC (National Development and Reform Commission). Its a governance body which works under the State Council and is tasked with guiding economic development is the country and economic system reforms. it is a macroeconomic management agency under the State Council, which has broad administrative and planning control over the economy of Mainland China. It has reputation of being the "mini-state council".
What it means is that:
- TRON becomes one of the first blockchain project which has a strong government backing.
- This opens up the biggest populated country in the world to invest confidently in TRON.
- This opens up doors for the Chinese Institutional Investors to invest in TRON.
- A lot of businesses in China which want to explore blockchain may hop onto TRON.
- This builds up a lot of trust for TRON as a project recognized by a government.
- With China's huge retail population, once they start using TRON blockchain the amount of TRX burnt daily will exponentially increases and subsequently crossing the SR daily rewards; thus making TRON total supply deflationary.
- The amount of TRX frozen in the network is also expected to increase massively and both deflation and increased freezing can catapult the TRX value upwards.
Along with the partnership news Justin has also been appointed as an editorial board member of Information China, a govt publication which provides China state authorities solutions and advisory on the country's digital information industry. Knowing Justin's flamboyance and marketing skills and understanding of Chinese community he sure is expected to drive adoption of blockchain based new tech products like defi, layer 2 soultions, NFTs as well as drive adoption for core usage of payments, remittances.
The move for sure is a massive step forward towards mass adoption of blockchain industry. The journey to bigger milestones is just getting started.
