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Thursday, February 16, 2023
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Three African Nations Plan to Undertake Cryptocurrency and Blockchain Solutions – Bitcoin News


Three African nations — particularly Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to undertake cryptocurrency and blockchain options powered by The Open Network (TON). Separately, Cameroon is contemplating issuing a nationwide stablecoin that’s based mostly on the identical blockchain community.

Phased Adoption of the Solutions

The Democratic Republic of Congo (DRC) is reportedly contemplating issuing a nationwide stablecoin that’s constructed on blockchain, a press release launched by The Open Network (TON) has mentioned. In addition, the DRC, together with Cameroon and the Republic of Congo, are planning to undertake cryptocurrency and blockchain-based options powered by the TON.

According to TON’s assertion, the announcement of the blockchain entity’s plan to ship these options follows its profitable engagements with every of the three nations. Adoption of TON’s crypto and blockchain options by the three nations can be phased, the assertion advised.

Democratizing the Financial System

Commenting on the chances of his nation’s potential partnership with TON, the Republic of Congo’s Minister for Posts, Telecommunications and the Digital Economy, Léon Juste Ibombo, mentioned:

The Republic of the Congo has been on this path for a lot of years, having inspired and witnessed the widespread adoption of cellular funds throughout the nation. This is the subsequent step in that journey and we consider that TON is the correct accomplice to facilitate this. This can be a useful, sensible instrument for the expansion and creation of wealth, each for the federal government and our folks alike.

Echoing related sentiments, Ibombo’s counterpart from the DRC, Désiré Cashmir Eberande Kolongele, spoke of his nation’s pleasure in taking this step. He mentioned the issuing of the stablecoin democratizes “access to our financial system for millions of unbanked and underbanked citizens.”

For his half, the Cameroonian Minister of Posts and Telecommunication, Minette Libom Li Likeng, mentioned: “The partnership with TON can play a fundamental role in the digital ecosystem of Cameroon for boosting the payment solutions and financial inclusion via CAMPOST, the public postal operator.”

What are your ideas on this story? Tell us what you assume within the feedback part beneath.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, writer and author. He has written extensively in regards to the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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