The Central African Republic will now have its own cryptocurrency - Sango Coin
29.06.2022
More and more cryptocurrencies are accepted by the Central African Republic. On the threshold - a new cryptocurrency Sango Coin. This is the republic's own digital currency, which became known during the Sango Genesis Event virtual event.
The news was shared by the president of the republic himself - Faustin-Archange Touadéra. He also spoke about the plans of the authorities regarding the development and use of Sango Coin and bitcoin. The head of the republic emphasized that the new cryptocurrency is the currency of the next generation.
Faustin-Archange Touadéra also said that this is a kind of gateway on the way to the natural resources of the republic. As for the latter, before that, the government planned to tokenize the country's natural resources (diamonds, oil, and copper were also discussed). It is likely that the purchase of tokens will be carried out through a new cryptocurrency or bitcoin.
In addition, Sango Coin is also given great importance because it will be the main vehicle for creating a digital and crypto-currency economic space in which investments from individuals will come. In this regard, the plans include the launch of a center working in the field of the digital economy, as well as a “cryptocurrency island” (Ubangi River).
Blockchain will be used not only for cryptocurrencies. The digital architecture of the Central African Republic will be launched. The cadastral system will also become digital. According to the Minister of Finance of the Republic, Hervé Ndoba, bitcoin provides a new cryptocurrency. However, the volumes and size of the collateral percentage are not disclosed.
It should be noted that in the middle of spring of this year, it was Bitcoin that was legally recognized as a means of payment of the republic.
The news was shared by the president of the republic himself - Faustin-Archange Touadéra. He also spoke about the plans of the authorities regarding the development and use of Sango Coin and bitcoin. The head of the republic emphasized that the new cryptocurrency is the currency of the next generation.
Faustin-Archange Touadéra also said that this is a kind of gateway on the way to the natural resources of the republic. As for the latter, before that, the government planned to tokenize the country's natural resources (diamonds, oil, and copper were also discussed). It is likely that the purchase of tokens will be carried out through a new cryptocurrency or bitcoin.
In addition, Sango Coin is also given great importance because it will be the main vehicle for creating a digital and crypto-currency economic space in which investments from individuals will come. In this regard, the plans include the launch of a center working in the field of the digital economy, as well as a “cryptocurrency island” (Ubangi River).
Blockchain will be used not only for cryptocurrencies. The digital architecture of the Central African Republic will be launched. The cadastral system will also become digital. According to the Minister of Finance of the Republic, Hervé Ndoba, bitcoin provides a new cryptocurrency. However, the volumes and size of the collateral percentage are not disclosed.
It should be noted that in the middle of spring of this year, it was Bitcoin that was legally recognized as a means of payment of the republic.
