'Global Economy Can Be Fixed By Digital Transformation And Blockchain Technology' Justin Sun on post-COVID economic crisis, food safety, environment protection, food safety and security, IP protection on coronavirus vaccines, e-commerce moratorium on customs duties, and trade facilitation
By Saurabh Singla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Justin Sun, founder of TRON, joined the Grenada government as its WTO ambassador last December. He talked about some serious issues at the Twelfth Ministerial Conference (MC12) of the World Trade Organization (WTO). Sun spoke during the conference on SIDS (Small Island Developing States), climate change, oceans, e-commerce and other issues.
The conference had various topics such as post-COVID economic crisis, food safety, environment protection, food safety and security, IP protection on coronavirus vaccines, e-commerce moratorium on customs duties, and trade facilitation, according to a press release.
At the conference, he also stated that "Grenada is heavily dependent on a very predictable, transparent and efficient MTS (multilateral trading system)," and he is "working closely with WTO's program on e-commerce in support of digitizing the economy".
As per a video published by the Organization of Eastern Caribbean States (OECS) on YouTube, Sun says, "Grenada is facing an increase in commodities prices, climate crisis, and environmental emergencies." These can be fixed, or at least can have a recovery initiation, by simply empowering e-commerce and a borderless digital economy.
Sun is not a new player in the market. He founded TRON in 2017, which is now one of the top three public chains worldwide. So, as per the government of Grenada, Sun will use his experience in blockchain technology to digitize its trade, investment, and governance processes.
In addition, ministers made two critical decisions: the Work Programme on Small Economies and the TRIPS non-violation and situation complaints and; a Sanitary and Phytosanitary Declaration for the Twelfth WTO Ministerial Conference: Responding to Modern SPS Challenges.
On the margins of MC12, the OECS also took the opportunity to have a series of engagements with essential partners, namely the International Trade Centre, the Commonwealth Secretariat, the Organisation of African Caribbean and Pacific States, and the United Nations Industrial Development Organization.
Sun seems to be playing a pivotal role in the economic development of Grenada. During his term of office, Sun also said he would actively advocate for cooperation between Grenada and other countries in various fields and boost economic growth through digital technologies to collaborate on the new issues that emerge from digital transformation in the post-COVID era.
Note: Investment in cryptocurrency and crypto assets is subject to financial risk and readers should do their own due diligence. Entrepreneur Media does not endorse any such investment.
