GSN and Diacente Group Launch $5.5 Billion Tokenized Economy in Uganda
- Global Settlement Network (GSN) has partnered with Diacente Group to create a $5.5 billion tokenized economy in Uganda’s Karamoja region.
- The initiative will pilot Uganda’s first central bank digital currency (CBDC), which is backed by treasury bonds.
- The CBDC will be accessible via mobile devices, enhancing financial inclusion.
- The project utilizes GSN’s blockchain technology to digitize key sectors such as agriculture, mining, and energy.
This partnership between GSN and Diacente Group aims to transform the economic landscape of Uganda’s Karamoja region by introducing a digital currency backed by treasury bonds and accessible through mobile technology.
With the introduction of a CBDC supported by treasury bonds, the project seeks to enhance financial accessibility while leveraging blockchain technology to modernize crucial sectors like agriculture and mining in Uganda. (Source)
