Blockchain
Cameroon, Democratic Republic of the Congo and Republic of the Congo take major step towards adoption of cryptocurrency, with TON leading pack
Cameroon, the Democratic Republic of the Congo (the DRC) and the Republic of the Congo have today announced their intention to adopt cryptocurrency and blockchain based solutions to drive future economic progress. Layer one proof-of-stake blockchain, The Open Network (TON) is the leading contender to become the blockchain to power this. The DRC has also confirmed that it is considering a new national stablecoin, built on the TON blockchain.
TON has been engaging with all three countries independently for some time and has taken the lead to deliver cryptocurrency and blockchain solutions for each nation. These countries will each undertake a phased transition to adopting cryptocurrency as a central pillar of their economic structures.
The future use of cryptocurrency will ensure that both banked and unbanked individuals will be better able to engage in the economy. This in turn will act as a powerful economic stimulus. In the DRC, for instance, as of 2019 12.4 million people had an account with a financial institution, whereas over 40 million have access to mobile phones or other internet enabled devices, demonstrating the significant potential for cryptocurrency.
The TON blockchain was designed to process millions of transactions within seconds. It’s ultra-affordable, user-friendly and fully scalable. With TON being a decentralized platform, it will provide control and certainty for citizens, removing the possibility of interference. In addition, TON anticipates that applications will be uniquely integrated with the Telegram app to provide users with a seamless, accessible experience.
Speaking about the potential partnership, the Congolese Minister for Posts, Telecommunications and the Digital Economy, Léon Juste Ibombo, commented: “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.”
The Minister for Digital Economy for the Democratic Republic of Congo, Désiré Cashmir Eberande Kolongele, added: “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, and with the support of TON as a partner we aim to increase our nations exposure to modern financial tools. We are also enthusiastic to commence considering the launch of a national stablecoin 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.”
Steven Yun, Founding Member of TON Foundation, remarked: “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.“
This announcement follows the adoption of Bitcoin by El Salvador as legal tender, and it is anticipated that new stablecoins will be developed for Cameroon and the Republic of the Congo, in addition to the DRC, to provide confidence and assurance to citizens.
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
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Blockchain
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