Several countries in Africa – including Cameroon, the Republic of Congo, and the Democratic Republic of the Congo (DRC) – are preparing to adopt cryptocurrency as legal tender and implement blockchain solutions as a means of revamping their economies. All three countries are also looking at The Open Network (TON) as the leading blockchain network to lead them into a digital future.
Cameroon, the DRC, and Other Countries Take to Crypto
In addition, the DRC has stated that it is considering issuing its own stable currency at some point. In an interview, the Congolese minister for posts, telecommunications, and the digital economy Leon Juste Ibombo explained:
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 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.
Desire Cashmir Eberande Kolongele – the minister for digital economy for the DRC – also threw his two cents into the mix, commenting:
We are proud to take this pioneering step, embracing new economic instruments to power our future economy. This marks the beginning of our journey to adopting cryptocurrency as a financial instrument within the DRC. With the support of TON as a partner, we aim to increase our nation’s exposure to modern financial tools. We are also enthusiastic to commence considering the launch of a national stable coin on the TON blockchain, democratizing access to our financial system for millions of unbanked and underbanked citizens. The ability to integrate applications with the Telegram platform and reach mobile users makes TON the obvious choice as we step boldly into the world of cryptocurrency and blockchain.
Minette Libom Li Likeng – the minister of posts and telecommunications for Cameroon – 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.
TON Is Excited to Be Working with So Many Countries
Lastly, Steven Yun – founding member of TON Foundation – mentioned:
There is an unbounded potential for these three countries to benefit from the adoption of cryptocurrency with our blockchain as the foundation. It’s fantastic that TON’s value is recognized, both in terms of its technology and utility. We’re excited to embark on this journey to building strong and long-lasting partnerships.
The big thing about TON is that it was built to handle millions of transactions in mere seconds, not minutes or hours or days. Furthermore, TON is fully decentralized, meaning the citizens using it will have full control over their finances, and they do not have to worry about corrupt government officials interfering with their monetary activities.