Three African countries – namely Cameroon, the Democratic Republic of the Congo (DRC) and the Republic of the Congo – are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin based on the same blockchain network.
Phased implementation of the solutions
The Democratic Republic of the Congo (DRC) is reportedly considering issuing a national stablecoin built on blockchain, according to a statement from The Open Network (TON). In addition, the DRC, along with Cameroon and the Republic of Congo, are planning to deploy 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 the successful agreements with each of the three countries. The adoption of TON’s crypto and blockchain solutions by the three countries will be phased, the statement said.
Democratizing the financial system
Commenting on the possibilities of his country’s potential partnership with TON, Léon Juste Ibombo, Minister of Posts, Telecommunications and Digital Economy of the Republic of Congo said:
The Republic of Congo has been on this path for a number of years and has encouraged and witnessed the widespread adoption of mobile payments across the country. This is the next step in that journey and we believe TON is the right partner to facilitate this. This will be an invaluable, practical tool for the growth and creation of wealth, both for the government and for our people.
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 issuance of the stablecoin “democratizes access to our financial system for millions of citizens without and under a bank.”
For his part, Cameroonian Posts and Telecommunications Minister Minette Libom Li Likeng said: “The partnership with TON can play a fundamental role in Cameroon’s digital ecosystem for driving payment solutions and financial inclusion through CAMPOST, the public postal operator.”
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Terence Zimwara is a Zimbabwean award-winning journalist, author and writer. He has written extensively about the economic problems of some African countries and how digital currencies can provide an escape route for Africans.
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