Three African Nations are Considering Adopting Cryptocurrencies and Blockchain Technology


3 African nations are adopting cryptocurrencies and blockchain technologies powered by TON, the Republic of Congo, Cameroon, and the DRC. Additionally, Cameroon is looking at the possibility of launching its national stablecoin on that particular blockchain.

Deployment in a Sequential Manner

According to a statement made by TON, the DRC is contemplating launching a federal stablecoin based on the blockchain system. It is also expected that the Republic of Congo and Cameroon will soon implement TON-powered cryptocurrencies and blockchain technology solutions.

People who work for the blockchain group say that the update comes after working with any of the 3 nations and coming up with remedies that worked well. According to the release, the 3 nations’ implementation of The Open Network’s cryptocurrency and blockchain technology remedies will be scaled in.

Creating a More Open and Inclusive Financial System

Léon Juste Ibombo commented on the possibility of his nation’s possible relationship with The Open Network that the mobile payment acceptance has been prevalent in the Republic of Congo for a long time, thanks to the government’s efforts to promote it. It’s the following phase in the process, and we think The Open Network is the appropriate person to help us get there. If our country’s authority and folks use this to grow and make money, it will be a very important, valid tool for the two.

As Ibombo did, his counterpart from the Democratic Republic of Congo said that his country was proud to have taken this step. People who don’t have a bank account or don’t have a lot of money can now get into the financial system thanks to stablecoin.

He added that the relationship with The Open Network might play a vital role in the fintech industry of Cameroon by expanding payment options and cashless transactions via CAMPOST, Cameroon’s official postal provider.

Kenya’s Cryptocurrency Market is Exploding

Kenya is poised at leading the world’s P2P cryptocurrency industry for the 2nd year in a row, based on Marius Reitz in Africa. In defending Kenya’s position ahead of the same old giants, the GM is described in a report citing the East African country’s expanding cryptocurrency sector and Kenyans’ experience with digital payment methods.

The country’s cryptocurrency industry is growing, with a rapidly growing crop of companies developing blockchain system solutions. Given its young population, proximity to wireless connectivity, and closeness with digital payment options, including cellular money, it’s compared to the initial rise as East Africa’s main cryptocurrency hub this year, according to Reitz, who is cited in the survey. The spike in Kenya’s peer-to-peer cryptocurrency transactions had previously been identified, with the country overtaking South Africa to become Africa’s second-largest peer-to-peer market.

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