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Three African nations intend to use cryptocurrency and blockchain technology

According to a statement made by The Open Network (TON), the Democratic Republic of Congo (DRC) is considering launching a national stablecoin based on blockchain. Furthermore, the DRC, along with Cameroon and the Republic of Congo, intends to use TON-powered cryptocurrency and blockchain-based solutions.

The announcement of the blockchain entity’s plan to supply these solutions followed successful discussions with each of the three countries, according to TON’s statement. So, The three countries’ adoption of TON’s crypto and blockchain solutions will be phased in, according to the release.

The Financial System Must Be Democratized

Léon Juste Ibombo, the Republic of Congo’s Minister for Posts, Telecommunications, and the Digital Economy, comments on the possibility of his country’s potential relationship with TON:

“The Republic of the 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.”

Ibombo’s DRC counterpart, Désiré Cashmir Eberande Kolongele, echoed similar comments, expressing his country’s satisfaction in taking this step. So, He claims that launching the stablecoin will give “millions of unbanked and underbanked persons access to our financial system.”

“The relationship with TON can play a crucial role in the digital ecosystem of Cameroon for expanding payment”

“solutions and financial inclusion via CAMPOST, the public postal operator,” said Minette Libom Li Likeng, Cameroon’s Minister of Posts and Telecommunication.

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