On 28 June, a major event was organised by CLINQ GOLD at the prestigious Al Habtoor Polo Resort in Dubai, bringing together governors and ministers from more than ten African countries and the United Arab Emirates. The aim was to present the GB-CBDC, a new central bank digital currency backed by gold.
Economic potential of the African market
Africa, with its population of 1.4 billion, is fertile ground for self-sustained economic growth. By 2023, the gold reserves of Africa’s central banks will have reached 647,000 tonnes, testifying to the economic solidity of some African countries, which boast a remarkable gross domestic product (GDP).
However, a major challenge remains: more than 675 million Africans are still unbanked, which is a major obstacle to the development of the banking system. Despite this, more than half the population actively uses mobile money transfer services for financial transactions, a workaround for the lack of bank accounts and the remoteness of financial centres.
Opportunities
Tokenisation is emerging as an innovative solution for African economies, enabling them to secure international transactions and become part of the global financial circuit thanks to blockchain technology. Giants such as BLACK ROCK have already begun tokenising their assets, illustrating the viability and importance of this technology for securing capital markets.
The ‘Blue Ocean’ strategy
At the heart of this strategy, CLINQ GOLD has developed a revolutionary digital currency system, the GB-CBDC, backed by gold. This innovative system aims to reduce dependence on the dollar, strengthen local currencies, increase central banks’ gold reserves and limit inflation in the long term. This model relies on the security and transparency of monetary transactions between central banks.
The GB-CBDC project also extends to the BRICS countries, where the combined GDP of the BRICS and African countries represents a global capital market. This economic interaction could lead to significant commercial opportunities, marking a new era for the African economy.