BitCherry Signed a Strategic Cooperation Agreement with the Democratic Republic of Congo to promote the development of economic transformation
From 10th to 12th October 2019, BitCherry signed the “Memorandum of Understanding on Strategic Cooperation for National Infrastructure Construction and Energy Economic Transformation in Congo (DRC). In the contract, BitCherry founder and CEO Paul, BitCherry consultant and WTIA chairman Kim exchange their views on several key areas such as cross-border payments, bulk e-commerce, new energy raw materials data, new energy assets, new energy assets, and new energy asset transactions with the Directors of the president’s office, Minister of State Infrastructure, Minister of Finance, and Minister of Mineral Resources and Energy.
Congo is located in the central and western part of Africa and has a total land area of 342,000 square kilometres. According to the US Geological Survey (USGS), most the world’s cobalt reserves are found in Africa (7.1 million tons) of which Congo (DRC) cobalt reserves are the first in the world, accounting for 47.9% of the world’s total cobalt reserves. As the largest copper producer in Africa, Congo has 86 million tons of copper resources, accounting for 48% of global exports. These two types of metals are two indispensable elements of today’s world economic development. BitCherry mentioned that this partnership will integrate new energy resources, from three directions commercially landed departure, creating the world-wide “Blockchain + new energy” eco-economy.
Due to a large number of child labourers involved in illegal cobalt mining in the Congo, the source of many materials is not legal. If the data of new energy raw materials are linked, all the data including raw material sources, material storage, resource management, and resource supply will be used to ensure that the source of raw materials is complete and legal. BitCherry founder and CEO Paul said: “We believe that legitimate sources of legal raw materials are of great economic importance, once the entire process is validated and scaled up, the problem of illegal cobalt mining can also be solved.”
By using the underlying architecture technology of the blockchain, the new energy assets will be chained, get certified, and the circulation of energy assets will be realized. The energy will then be circulated as a financial asset in the capital market, which will achieve a full-scale transformation of the Congo economy and strengthen the overall economic development of the Congo. BitCherry as a high-performance network infrastructure based on the underlying technology of distributed books will establish a network of centres to meet any business needs. BitCherry will value the new Congo energy and raw material data, standardized data on the chain assets, income authenticity of data, judicial data as evidence, all the realization of the value of assets in circulation on the chain. The smart contract is then contracted to manage the exchange of trusted data through a unique consensus mechanism. The decentralized network from BitCherry will help to ensure the complete process, standardization and security of the new energy from data chain, asset chain to the transaction.
BitCherry founder and CEO Paul said: “Many countries have chosen to phase out diesel locomotive in 2030, the change in the use of new energy sources, indicating that the future potential of the new energy market is huge. This time, the strategic cooperation with the Congo government will enter the ecology of the “blockchain + new energy sector”, thus accelerate the development of the blockchain industry, realizing the certification of assets, and fundamentally solve the problems of the backwardness of the Congo economy. Next, we will gradually enter the global market, leading the new global energy industry to participate in BitCherry ecological construction.
The Minister of Youth Development said in the Democratic Republic of the Congo cooperation that BitCherry is the leader of the decentralized blockchain network in the world. They are honoured and happy to conduct such strategic cooperation project with BitCherry. This cooperation will also promote the development of the new energy ecology of the Congo blockchain and lead the transformation of the Congo economy.
The cooperation between BitCherry and the Democratic Republic of the Congo will integrate the advantages of resources from both sides to achieve the Democratic Republic of the Congo blockchain in the field of “corner overtaking” as the ultimate goals of cooperation, continue to provide more efficient blockchain asset solutions for Congo and Africa as a whole, facilitate the global circulation of assets, and actively build a blockchain new energy economic ecology with global scale and economic benefits.