By
Steve Muchoki
May 10th, 2024
TRON founder Justin Sun says he is going into retirement from the blockchain/crypto platform he founded, to take on a new project.
Justin Sun, the founder of the Tron blockchain and its native TRON (TRX) crypto, has announced his retirement from his crypto brainchild. Sun will focus his attention on his recent appointment as ambassador of the Grenada government to the World Trade Organization (WTO). Sun weighed in on the new political appointment saying:
“It is truly an honor to serve as the WTO ambassador for Grenada. I look 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.”
Justin Sun emphasizes that his TRON retirement does not mean that he will leave the crypto space altogether. As a matter of fact, in his new political post, the tech entrepreneur explains he is looking to focus on crypto legitimization. He particularly referred to Latin American countries as his new vision scope, following El Salvador’s success in adopting BTC as legal tender.
Justin Sun Offers Projection
Sun stated in an open letter that he will cede some of his power on the Tron blockchain. Furthermore, the thirty-one-year-old Chinese American businessman said he will promote blockchain and crypto in countries like Grenada. In an interview on Tuesday, he said:
“My career in the future … will focus on the legitimization of blockchain technology on a nation-state level.”
According to Sun, Grenada already holds several advantages in its quest to become more blockchain-centric. Some of these include its proximity to the US, and adopting English as one of its official languages. Furthermore, Grenada has a commendable educational system, boasting one of the best universities in the region. It’s these universities that Sun believes that a substantial number of the nation’s future blockchain developers will eventually emerge from.
Sun also believes that Grenada’s blockchain agenda could also have a positive spillover effect on the US and China. Should the island nation develop a thriving blockchain industry, the US and China may feel compelled to boost theirs as well.
Grenada Looking to Shift Gears
Grenada’s Ministry of Foreign Affairs selected Sun to chart a new way forward for the Caribbean country through digital currencies. Due to the prevailing Covid pandemic, Grenada’s economy has been adversely impacted, alongside other regions in the Caribbean Community (CARICOM). This is because the island nation’s economy heavily relies on tourism – an industry that remains shut because of Covid. In addition, according to the WTO, the current global trade decline will likely surpass that from the economic meltdown of 2008/09. The intergovernmental trade regulatory body asserts that merchandise trade will decline by 13-32%.
The crypto market is beginning to show signs of fatigue, losing heavy gains since November’s all-time high. However, despite this short-term uncertainty, Sun still maintains a positive outlook. He also expressed disapproval of the US’ seemingly overt influence over which way the crypto market goes. The TRON founder explained that the US only has 300 million people, out of the global 8 billion population.