Also known as Sango Project, the Central African Republic’s cryptocurrency hub seeks to promote the adoption of cryptocurrencies. Bitcoin, and incentivize certain schemes associated with the use of cryptocurrencies and technology. Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. within the nation.
- President Touadéra announces the launch of the Sango Project on July 3rd.
- The project envisages a series of schemes to promote the adoption of Bitcoin, Blockchain and other technologies.
- The measure is in line with the steps taken by El Salvador in its process of making Bitcoin official as a legal currency.
The President of the Central African Republic, Faustin-Archange Touadéra, has announced that the Sango Project the initiative to promote the use of Blockchain and cryptocurrencies within the country, will be officially launched on July 3.
Sango Project officially starts next July 3rd
This was stated by President Toudéra in a message posted on his official account an account is essentially a whose purpose is to track the financial activities of a specific asset/ of Twitter, which reads:
“With #Bitcoin as #LegalCourseCurrency and inspiration, our country opens a new chapter in its inspirational journey towards a brighter future through #Blockchain #Tech. All are welcome to witness the Sango Genesis event which will be broadcast on July 3 via http://sango.org.”
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
Let’s keep in mind that the Sango Project is the initiative announced by the government of the Central African Republic with the aim of “paving the way to a digital digital technologies are these electronic tools that have the ability to generate, store or even process data. future of infinite possibilities”. according to the program’s official website.
To this end, several actions are envisaged within the framework of the plan, such as the construction of a “ cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. economic zone “where users will be able to propose, see and contribute to its future development; facilitate the acquisition of land with Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. for investors from all over the world; the tokenization of natural resources within the country; without leaving aside the creation of a National Digital Bank.
Following in El Salvador’s footsteps
Let us bear someone who believes that prices in a given market will decline over an extended period. Such a person might be referred to as “bearish.” in mind that the Central African Republic became the second country in the world to grant the official currency currency is a medium of exchange that defines value. status to Bitcoin, thus following in the footsteps of El Salvador in making such a momentous financial decision with all that it entails.
Although El Salvador is a pioneer in this area, the country’s authorities did not stop there and began to implement a series of plans to promote the economy based on digital currency. These include the launch of the official purse Goat, plans to promote mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. Bitcoin with geothermal energy, the purchase of reserves in the digital currency, the announcement of the issuance of bonds based on BTC (which have not yet materialized), and the construction of the Bitcoin City, the latter being the most ambitious to date.
Such announcements have brought both El Salvador and the Central African Republic criticisms and accusations from various international entities. One of these was the International Monetary Fund, which rejected such measures and invited the leaders to reflect on the matter to avoid inconveniences in the future.
However, despite criticism and market an area or arena, online or offline, in which commercial dealings are conducted. declines, both countries have followed through on plans associated with the digital currency by keeping an eye on the future, highlighting the adoption of Blockchain and cryptocurrencies by the traditional sectors, as well as the incorporation of the Web3.
- Central African Republic announces next plan: tokenize the process by which real-world assets are turned into something of digital value called a token, often subsequently able to offer ownership of parts of this asset to different owners. the country’s mineral resources
- World Bank rejects Bitcoin legalization and crypto adoption plans in Central African Republic
- Central African Republic plans to create a tax-free “cryptocurrency hub” for Bitcoin
Source: CryptoPotato , Twitter
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unspash