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 stable coin that is based on the same blockchain network.

Phased Adoption of the Solutions

A statement released by The Open Network (TON) has said that the Democratic Republic of Congo (DRC) is reportedly considering issuing a national stable coin that is built on blockchain technology. In addition, the DRC, along with Cameroon and the Republic of Congo, is 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 in, the statement suggested.

Democratising 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 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 stable coin democratises "access to our financial system for millions of unbanked and underbanked citizens."

For her 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 by boosting payment solutions and financial inclusion via CAMPOST, the public postal operator."