Namibia Weighs Blockchain Use to Support Economy

George Goognin, a global ambassador for the Mile Unity Foundation, took part in a meeting with Namibian President Hage Geingob and government officials to discuss how Namibia could embrace blockchain technology. Goodnin demonstrated methods to implement the MILE blockchain solution for the real economy.

Mile Unity Foundation is the entity behind the MILE blockchain project, which, among others, addresses the volatility problem in the crypto space by introducing a stablecoin with the ticker XDR. The platform operates another coin in parallel, Mile.

Goognin discussed the benefits of the technology at the meeting that took place at the end of last month in New York City. He reportedly received a personal invitation from the president’s administration to visit Namibia and work on a plan for the implementation of XDR, which addresses remittances and could potentially bring investments and boost international trade.

Goognin commented:

“I am grateful to Namibia’s government for a warm welcome in New York during the UN Assembly. The President, the Minister of Investments and the head of Administration were extremely kind and eager to discuss possible investments. I am sure we will be able to cooperate in all the fields.”

President Geingob said the country’s primary goal was to set up institutional mechanisms for the development of the national economy and to update the current ones in line with the new trends.

“We are closely following the news on emerging technologies, including blockchain, artificial intelligence, smart-city and the Internet in general, and are ready to implement them in Namibia,” Geingob said.

Goognin added:

“We will visit Namibia to meet with bank and governmental officials to discuss the regulation of blockchain technologies and crypto assets, and their application in money remittance, cross-border trading and investments.”

It seems that Namibia is open to blockchain adoption while taking a cautious approach to cryptocurrencies. Last year, the country’s central bank refused to support digital currencies like Bitcoin. However, it may have reversed its stance since then.