The CAR government will reportedly back such projects launched with the purpose of improving blockchain infrastructure in the country.
President of the Central African Republic Faustin-Archange Touadéra has recently stated that the government would be finally launching its crypto hub dubbed Sango, an initiative that will supposedly boost CAR’s economy via blockchain technology.
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In fact, Sango's enrollment is the conclusion of a sequence of activities leading up to its debut next month. For instance, back in April, Touadéra signed a framework and made Bitcoin (BTC) a legal currency in the country. In May, the President firstly announced that CAR would launch its Sango project, a move to transform the country into a cryptocurrency hub.
As stated on the official website, the program will reportedly roll out on July 3, during the Sango Genesis Event, defined as the most “revolutionary conference in the history of blockchain technology and Web3.” The conference will see the President and the rest of the cabinet members discuss the possible adoption of CAR in the crypto ecosystem, as well as other legal frameworks needed in the country.
On top of that, Sango’s plans include establishing a “legal crypto hub” to expand Bitcoin (BTC) acceptance in the Central African Republic. On top of that, with such a project, the President hopes that major crypto-related organizations will notice the country, as it will eventually become a virtual “crypto island.” Touadéra believes that CAR will be able to have a legal framework for crypto by the end of this year. He concluded:
“An ambitious strategy to quickly build a successful economy can only rely on new technologies that have taken the world by storm and taken money to new heights, with Bitcoin as the watchword.”
