The ambitious plans for the crypto hub unveiled by the Central African Republic might have made a historic turning point as President Faustin-Archange Touadéra announced an introductory online event, scheduled for July 3rd, which will reveal the next steps for the realization of the Sango crypto hub.
With #Bitcoin as #legaltender & inspiration, our country opens a new chapter in its inspiring journey towards a brighter future via #blockchain #tech. Everyone is welcome to witness the Sango Genesis Event that will be broadcast on the 3rd of July, on https://t.co/LIQiKGhcBS. pic.twitter.com/7u6knv5f6w— Faustin-Archange Touadéra (@FA_Touadera) June 27, 2022
In a 6-minute video on the crypto island’s official website, the President of Central African Republic explained how he intends to bring a crypto makeover to the country, thereby propelling them to the forefront of the innovation game by attracting crypto talent with its tax-free zones, and including local young people in the inevitable “crypto revolution”.
The Sango Project will also enable crypto investors to acquire national resources in digital tokens. Ultimately, the country believes that the tokenization process could eventually net them a total market capitalization of $3 trillion, as it is explained on Sango’s website.
The 3 Verticals of the Sango Ecosystem
An entire society grows when its country adopts #bitcoin now, knowing that will benefit the generations to come!#CAR #BTC #legaltender #Africa— Faustin-Archange Touadéra (@FA_Touadera) June 26, 2022
- The Central African Republic, with its population of 4.8 million, has huge infrastructure problems in rural areas, say analysts
- The World Bank disapproves of the CAR’s decision to install Bitcoin as a legal tender.
Why You Should Care
The Central African Republic became the second country in the world to adopt Bitcoin as legal tender, after El Salvador, and the future developments made by the two countries may end up playing a crucial role in the future of crypto.