‘Global Economy Can Be Fixed by Blockchain,’ Says Tron Founder

Justin Sun, the founder of Tron and Grenada Ambassador to the World Trade Organization (WTO), said that blockchain could fix global economic crises at the Twelfth Ministerial Conference (MC12).

Sun spoke during the Small Island Developing States (SIDS) segment, where delegates of various WTO member states raised the discussion on climate change, ocean management, and e-commerce, among other topics.

<blockquote> “Global economy can be fixed by digital transformation and blockchain technology.” <blockquote>

He revealed that Grenada is “heavily dependent” on a multilateral trading system that is predictable, transparent, and efficient. Sun added that he is “working closely with WTO’s program on e-commerce in support of digitizing the economy.”

Notably, the MC12 conference discussed pressing issues, including the post-pandemic crisis, food safety and security, environment protection, IP protection on COVID-19 vaccines, and e-commerce, among other subjects. The event saw the decision to impose the Work Program on Small Economies, the TRIPS non-violation and situation complaints, and the Sanitary and Phytosanitary Declaration for the MC12 initiative.

Just recently, Sun appeared before the Organization of Eastern Caribbean States (OECS) and again championed digital innovation. “Grenada is facing an increase in commodities prices, climate crisis, and environmental emergencies,” says Sun. He believes optimized e-commerce and a borderless digital economy can address such crises.

Sun is said to be playing an essential role in the economic development of Grenada. He claimed that as long as he serves as a WTO representative for the Caribbean country, Sun would advocate for cooperation between Grenada and other countries to boost economic growth and digital transformation.

In 2017, Justin Sun founded Tron, a decentralized, open-source blockchain. The businessman stepped down from his post as Tron’s CEO to become a diplomat for Grenada in December 2021.