A new partnership aims to put $5.5 billion of Ugandan infrastructure on the blockchain

A partnership plans to tokenize $5.5B of Ugandan infrastructure and pilot a digital shilling CBDC on the blockchain...

✨ Key Highlights

American blockchain firm Global Settlement Network (GSN) and Ugandan developer Diacente Group are partnering to launch a $5.5 billion tokenized economy in Uganda, aiming to put real-world infrastructure on the blockchain. This initiative includes a pilot program for a Central Bank Digital Currency (CBDC), a digital version of the Ugandan shilling.

The project aims to tokenize $5.5 billion worth of infrastructure assets in Uganda, primarily within the Karamoja Green Industrial and Special Economic Zone (GISEZ).
Key organizations involved are Global Settlement Network (GSN) and Diacente Group.
The project includes a pilot for a digital shilling backed by Ugandan treasury bonds, accessible to over 40 million people via smartphones and USSD.

Continue Reading

Read the complete article from Techish Kenya

📰 Read Full Article

Related News

business6h ago

High Grand Falls Dam to cost up to Sh348mn

The construction of the High Grand Falls Dam along the River Tana is projected to cost Kenyan taxpayers between Sh323.3 million ($2.5 million) and Sh348 million ($2.7 million), according to the Ministry of Energy. This ambitious project aims to add over 400 megawatts of electricity to the national grid by 2032.

Capital Business

📰 Read Full Story

top9h ago

Truck drivers, traders decry deplorable infrastructure, endless congestion at Busia Border post

Drivers and traders are frustrated by deplorable infrastructure and endless congestion at the Busia One Stop Border Post (OSBP). The Senate National Cohesion, Integration and Equal Opportunities Committee raised concerns about mismanagement and poor facilities, including travelers being charged to access public toilets.

Capital News

📰 Read Full Story

business11h ago

Central African Republic Joins the Africa Finance Corporation

The Central African Republic (CAR) has become the 46th member state of the Africa Finance Corporation (AFC), a key step for the resource-rich but fragile nation.

The Kenyan Wall Street

📰 Read Full Story