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Tether & Guinea: Blockchain Partnership Drives African Digital Economy

Coin WorldTuesday, Feb 18, 2025 7:05 am ET

1min read

Tether, the issuer of the world's largest stablecoin, has partnered with Guinea to foster economic growth through blockchain and educational initiatives. The collaboration, outlined in a Memorandum of Understanding (MoU), aims to position Guinea as a leader in Africa's digital economy by leveraging blockchain and peer-to-peer (P2P) technology.

The MoU, revealed on February 17, prioritizes education, innovation, and sustainable technology. It seeks to promote the transfer of global knowledge and the exchange of best practices with Guinea. Paolo Ardoino, CEO of Tether, expressed optimism for the partnership, highlighting it as an opportunity to expand blockchain and digital technologies throughout Africa.

Tether's involvement supports Guinea's "Innovation City" project, driving sustainable, tech-driven economic transformation and global competitiveness. The MoU introduces educational programs within both the public and private sectors of the nation, aiming to cultivate local talent in digital technologies and provide skill-building opportunities. It also seeks to raise awareness of blockchain's potential.

The Minister Director of the Cabinet of the Presidency Republic of Guinea, Djiba Diakité, emphasized that the MoU with Tether is a crucial milestone in driving the country's digital transformation toward inclusivity and sustainability. He highlighted that it is an important step in integrating cutting-edge technologies such as blockchain and P2P solutions, leading to technological sovereignty and Guinea's influence on the international stage.

The partnership supports Tether's broader goal of driving technological innovation worldwide. The company has recently made strategic investments across various sectors, including acquiring a minority stake in Juventus Football Club and investing in Zengo Wallet. Beyond blockchain projects, Tether is also expanding into artificial intelligence (AI) through its "Tether Data" projects.

The ramifications of this partnership extend beyond mere economic development. It represents a potential pivot in how various African nations approach digital transformation. With Tether's substantial expertise in the cryptocurrency domain, Guinea can harness blockchain technology to bolster transparency in governance and enhance public service efficiency. Educational initiatives that foster technological literacy among the youth can create a skilled workforce equipped to handle emerging tech industries, leading to a resilient economy that leverages local talent and attracts foreign investments.

The collaboration between Tether and Guinea signifies more than just an agreement; it embodies a vision for a digitally empowered Africa. By focusing on education, innovation, and community-driven initiatives, this partnership promises to lay the groundwork for

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