Crypto, Russia’s way out to Africa?

Large country under embargo looking for new partners – The situation economic and diplomatic Russia is forcing it to innovate. The sanctions taken by part of the international community roads in his trade balance. It is therefore high time to find new financial partners. countries African therefore seems ready to take advantage of this opportunity to forge new ties with her. TON of cryptocurrency and blockchain could serve as a particle accelerator. Decryption.

Blocked in the West, the Russians are turning to African countries

Since the start of the Russian military intervention in Ukraine, there have been economic sanctions crescendo. The European Union (EU), the United States and all their allies almost subjugated Vladimir Putin’s country trade embargo. That said, gas is still being sold to part of the EU. But overall, the Russian economy is starting to show signs of weakness. So she’s looking for new business for its production as well supplier for its industry. Therefore, the Russian government is trying to deepen its relations with countries that are still willing to do business. And it’s here African continent comes into play.

In a letter sent to Prime Minister Mikhail Mishustin, head of the Russian Chamber of Commerce and Industry (CCI), Sergei Katyrin provides some clues. For him, it is actually time to develop cooperation with the great southern continent. He therefore proposes to examine the issue of establishing trade missions, trading posts and also free trade zones. It also plans to facilitate the obtaining of visas for nationals of these countries, in short “developing co-operation in friendly areas is crucial”.

Russia is looking for new economic partners after international sanctions against the country's economy.  And Africa is ready to receive it as long as it pays in cryptocurrency.
Russia is getting closer to some African countries

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Cryptocurrency as a link between Russia and Africa

And to simplify and make these economic relationships more fluid, this little world is thinking of spending cryptocurrency. In his letter, Sergei Katyrin puts it this way:

It seems useful to instruct the Ministry of Finance of the Russian Federation to ensure, together with the central bank, the delivery of intergovernmental agreements with African states on the use of national currencies and cryptocurrencies in mutual settlements and payments. »

This statement from Russia comes as several countries have announced that they want to build projects on blockchain TON. Telegram Open Network is a layer 1 that was launched a few years ago by Paul and Nikolai Durov. Find all the adventures of this project here. The messaging company Telegram is no longer involved in the project, but the original blockchain Russian still has its aficionados.

Cameroon, the Republic of the Congo and the Democratic Republic of the Congo have jointly launched projects on this structure:

TON engaged with all three countries (…) and took the initiative to deliver cryptocurrency and blockchain solutions to each nation. These countries will each make a gradual transition to the introduction of cryptocurrency as a central pillar of their economic structures. »

Statement at the launch of the TON Foundation – Source: Cointelegraph article on 11 April

TON blockchain becomes a part of diplomats important as new alliances are formed. Russia seeks to structure one new network of influence in Africa and cryptocurrencies are at the heart of the program.

While these countries are based on TON, others like Ghana, South Africa or Kenya have started developing their MNBC. Africa becomes one cryptos important role and adoption seems inevitable. The concept of leaping » – “the technological leap” – is perfectly illustrated here, where an entire generation is likely to go from unbanked to ” full-crypto » in a few years.

A bit like geopolitics, crypto is sometimes complex to understand. Make the choice of tranquility: up to € 200 in cryptocurrencies offered when you sign up for the SwissBorg platform only today (linked link, for a minimum deposit of 50 €).

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