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Three African countries – Cameroon, the Democratic Republic of Congo (DRC) and the Republic of Congo – are reportedly planning to adopt cryptocurrency and blockchain solutions based on The Open Network (TON). Separately, Cameroon is considering issuing a national stabelcoin based on the same blockchain network.
Phased-in solutions
The Democratic Republic of Congo (DRC) is reportedly considering issuing a national stablcoin built on blockchain, according to a statement from The Open Network (TON). In addition, the DRC, along with Cameroon and the Republic of Congo, plans to adopt cryptocurrency and blockchain-based solutions based on TON.
According to TON , the announcement of the blockchain entity’s plans to provide these solutions followed a successful engagement with each of these three countries. The adoption of TON cryptocurrency and blockchain solutions by the three countries will be phased in, the statement said.
Democratizing the financial system
Commenting on his country’s potential partnership with TON, Republic of Congo Minister of Posts, Telecommunications and Digital Economy Leon Juste Ibombo said:
The Republic of Congo has been on this path for several years now, encouraging and seeing widespread mobile payments throughout the country. This is the next step on that path, and we believe that TON is the right partner to facilitate that. It will be an invaluable, practical tool for growth and wealth creation for both the government and our people.”
Echoing a similar sentiment, Ibombo’s DRC colleague, Desiree Kashmir Eberande Colongelé, said of his country’s pride in the move. He said that the issuance of the stabelcoin democratizes “access to our financial system for millions of unbanked and low-banking citizens.”
For her part, Cameroon’s Minister of Posts and Telecommunications Minette Libom Li Likeng said: “The partnership with TON can play a fundamental role in Cameroon’s digital ecosystem to expand payment solutions and financial accessibility through CAMPOST, the state postal operator.”
Image credits: Shutterstock, Pixabay, Wiki Commons
