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). Cameroon may also consider issuing its own stablecoin, which is built on the same blockchain network.
Implementation in stages
According to The Open Network (TON), the Democratic Republic of Congo (DRC), is reportedly looking at issuing a stablecoin national built on blockchain. The DRC is also planning, together with Cameroon, to adopt blockchain-based cryptocurrency solutions powered by 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.
Financial System Democracy
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:
This is a path that the Republic of the Congo has been following for many years. They have encouraged widespread adoption of mobile payment across the country and even witnessed it. This will be the next step on that journey. We think that TON can help facilitate it. This tool will prove to be a valuable and practical resource for creating wealth for our government as well as for citizens.
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.”
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