The Central African Republic has unveiled the Sango project, disappointing the world

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Sango Genesis was publishing the event. Clearly, confused as President of the Central African Republic Miami Coin Mayor Francis Suarez And New York Mayor Eric Adams. They were both selected under the Bitcoin platform and changed tunes very quickly. President Faustin-Archangel Toadera, for his part, realized the mathematical miracle of Bitcoin and made it a legal tender at CAR. Only a couple of months later to launch your own coins.

Unfortunately, the Sango project turned into a hodgepodge of buzzing and half-cooked ideas. The Central African Republic swings for the fence and strokes brilliantly. They have launched a coin, a metavers project, a real crypto island and they want to tokenize everything under the sun. The self-described “Sango Crypto Hub Initiative” tries to make everything, everywhere, everything at once.

Sango Coin and Crypto Island

President Faustin-Archangel Toadera presented the Central African Republic’s own cryptocurrency with vague words, “The Sango currency will be the currency of the next generation of the Central African Republic.” If Bitcoin is already a legal tender, why would they need it? To add confusion, Sango coins will be backed by Bitcoin. They did not explain how it would work. Or mention what happened to UST / Lunar, the last project to use a volatile asset like Bitcoin as a reserve.

In addition, the Central African Republic has promised a clear crypto rule and announced that they plan to tokenize the country’s natural resources. Why would they need a blockchain for this? “There are diamonds all over the country. Iron, copper, coltan, lithium, cobalt and other strategic minerals that are known and identified today, ”the president claimed at the Sango Genesis event. What real-world rights would those minerals have if they entered the blockchain?

A little more intelligent plan, CAR plans to digitize the country’s land registry system and is using blockchain technology to do so. They can do this more efficiently with a centralized database, though, since the registry is individually an official matter. More confusing than the tokenized product, Project Sango promises “the only metaverse supported by reality.” “Crypto Island” will both be a metavars project and a real place with low taxes along the Obangui River.

BTCUSD Price Chart for 07/04/2022 - TradingView

BTC price chart for 07/04/2022 on Coinbase | Source: BTC/USD on TradingView.com

Vague language and tokenized everything

“As a bitcoin legal tender and inspiration, our country has begun a new chapter in its inspiring journey toward a brighter future through blockchain technology,” President Faustin-Archangel Toadera tweeted, inviting everyone to his July 3rd event. He used the same vague language that plagued Bitcoin law of the Central African Republic. And now we know why.

“Gold has been the engine of our civilization for ages! In this new era, digital gold will do the same for the future! The Sango Project is the foundation we will build together! ” The President further tweeted. Great attitude. Bad foundation. “Coinbase-backed Mara is advising CAR. Keep the wrong company and you will be misled, ”he said Nation-state adoption Expert Samson Md.

“Citizens will gain at every level, they will live in a country with full economic development, which means employment and prosperity,” the president promised minutes after losing all his credibility. Only then can he drop his truth bomb and get some of it back, “For us, the formal economy is no longer an option.”

Featured Image: President Touadéra screenshot from the video | Charts by TradingView

Flag of the Central African Republic



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