Three African countries To Implement Crypto and Blockchain Solutions

Recently, various countries have started adopting crypto and blockchain solutions in multiple sectors of their economy, such as finance, banking, health care, and security. According to reports, Africa, which is backward in terms of blockchain adoption, is presently making efforts to catch up with the rest of the world.

The Democratic Republic of the Congo (DRC), Cameroon, and the Republic of the Congo (RC) are three African nations currently making moves to implement crypto and blockchain technologies in different sectors of their economy. This recent innovation will be provided by The Open Network (TON). Meanwhile, the government of Cameroon is proposing the introduction of a national CBDC that would run on the TON blockchain.

Solutions To Be Implemented In Stages

According to a statement made by The Open Network (TON), the Democratic Republic of Congo (DRC) is contemplating releasing a national CBDC that is based on blockchain technology. In addition, the Democratic Republic of the Congo, together with the Republic of Congo and Cameroon, intends to implement crypto and blockchain-centred solutions that are driven by TON.

Bitcoin Revolution is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 

As stated in the company’s announcement, the news of the blockchain institution’s intention to supply these solutions comes after successful partnerships with them. The report noted that the three nations would adopt TON’s cryptocurrency and blockchain technologies in stages.

The Financial System Should Be Democratic

Léon Juste Ibombo, the RC’s Minister for Telecommunications, Posts and the Digital Economy, expressed his country’s interest in exploring the possibility of a cooperation with TON in the following statement:

“It has been several years since the Republic of the Congo took this step, having promoted and watched the growing implementation of digital payments throughout the nation. That journey has reached its conclusion, and we feel that TON is the best partner to help us get there. This partnership will prove to be a beneficial and practical tool for developing and generating income for both the state and its people.”

Désiré Cashmir Eberande Kolongele, Ibombo’s colleague from the Democratic Republic of the Congo (DRC), expressed his country’s delight in making this move in a similar vein. He said that the creation of the CBDC decentralizes “entry to our monetary system for thousands of underbanked and unbanked users in the country.”

“The cooperation with TON has the potential to play a crucial part in the digital world of Cameroon, increasing payment services and access to financial services via CAMPOST, the state postal operator,” said Minette Libom Li Likeng, the Minister of Posts and Telecommunication in Cameroon.

start trading

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

Previous post Gemini Introduces Credit Card For Crypto Users In The US
Next post China Is Taking A Cautious Approach To NFTs