Blockchain project The Open Network (TON) was engaged in launching crypto projects in three African states.
The media reported that The Open Network (TON) is assisting a number of African states with implementing cryptocurrency projects. In response to CoinsPaid Media’s inquiry, TON Foundation representatives confirmed their participation in blockchain projects in Cameroon, Congo and the DRC. It turns out that relevant statements also appeared on official government portals.
The Democratic Republic of the Congo (DRC) plans to develop a stablecoin based on The Open Network blockchain. The stablecoin creation is part of the strategic national development plan until 2025.
The TON Foundation will act as the main technical partner in building a digital state ecosystem based on blockchain technology in Cameroon. Blockchain is expected to help revolutionize public administration and record-keeping processes, as well as increase public access to financial services. These plans are also announced as part of the national development strategy until 2030.
The Congolese authorities intend to introduce a TON cryptocurrency at the state level as an alternative to the country’s widespread mobile payment systems, which have become the main financial tool for most citizens. The TON cryptocurrency compares favorably to similar services due to almost free transactions and decentralization. All of the above countries intend to develop national economies with the gradual inclusion of cryptocurrencies and blockchain technology. The primary goal is the economic development of the countries and the growth of citizens’ well-being. According to a KuCoin study in 2021, the monthly volume of crypto transactions in Africa grew by more than 1.300%.