Cameroon, the Republic of Congo and the DRC will implement TON-based blockchain at the state level
These three Central African countries issued separate press releases outlining their first thoughts on cryptocurrency and how they plan to integrate it into their economies. The countries mentioned that they are in talks with The Open Network (TON) for help with their first cryptocurrency initiatives.
The Open Network (formerly Telegram Open Network) is a blockchain-based decentralized computer network technology originally developed by the Telegram team. In May 2020, Telegram pulled out of the project after a lawsuit with the U.S. Securities and Exchange Commission.
According to a Forbes source
close to the matter, each country's plan is to launch national stablecoins built on the TON blockchain. The source implied that this is not a central bank digital currency project.
Notably, the strategy for introducing cryptocurrencies in these countries is operating independently from the central bank. In Cameroon, the move is handled by the Ministry of Posts and Telecommunications. In DRC, the Ministry of Digital Economy is responsible, while in the Republic of Congo, the Ministry of Posts, Telecommunications and Digital Economy is in charge of it.
These countries will each undertake a phased transition to adopting cryptocurrency and including the Telegram messenger application, making it possible to make cryptocurrency peer-to-peer payments using bots in the messaging app.