Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions

Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions

Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin that is based on the same blockchain network. Phased Adoption of the Solutions

The Democratic Republic of Congo (DRC) is reportedly considering issuing a national stablecoin that is built on blockchain, a statement released by The Open Network (TON) has said. In addition, the DRC, along with Cameroon and the Republic of Congo, are planning to adopt cryptocurrency and blockchain-based solutions powered by the TON.

According to TON’s statement, the announcement of the blockchain entity’s plan to deliver these solutions follows its successful engagements with each of the three countries. Adoption of TON’s crypto and blockchain solutions by the three countries will be phased, the statement suggested.

Democratizing the Financial System

Commenting on the possibilities of his country’s potential partnership with TON, the Republic of Congo’s Minister for Posts, Telecommunications and the Digital Economy, Léon Juste Ibombo, said: The Republic of the Congo has been on this path for a number of years, having encouraged and witnessed the widespread adoption of mobile payments across the country. This is the next step in that journey and we believe that TON is the right partner to facilitate this. This will be an invaluable, practical instrument for the growth and creation of wealth, both for the government and our people alike.

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

For his part, the Cameroonian Minister of Posts and Telecommunication, Minette Libom Li Likeng, said: “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.” Tags in this story Crypto Adoption, Désiré Cashmir Eberande Kolongele, financial inclusion, Léon Juste Ibombo, Minette Libom Li Likeng, Mobile Payments, The Open Network (ION), The Open Network (TON), Unbanked

What are your thoughts on this story? Tell us what you think in the comments section below. Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route. Crypto and Blockchain Firms Constitute 16% of UAE Free Zone"s Record Q1 Company Registrations EMERGING MARKETS | 6 hours ago Study: 54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments EMERGING MARKETS | 4 days ago

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