BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
SUBSCRIBE
BlockNews.com
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides
No Result
View All Result
BlockNews.com
No Result
View All Result
Home Crypto

Central Africa Embraces Blockchain, Introduces Natural Resource Tokenization, and Metaverse

Alexa by Alexa
June 4, 2022
in Crypto, Metaverse, Politics
Reading Time: 2 mins read
A A
Central Africa Embraces Blockchain, Introduces Natural Resource Tokenization, and Metaverse
1
SHARES
13
VIEWS
Share on TwitterShare on Reddit

The Central African Republic (CAR) has recently launched an ambitious crypto project that plans to implement Bitcoin as legal tender, create its own metaverse, and attract investments. 

You might also like

Around The Block – MAR 24 Week in News

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

UK to Mandate Declaration of Crypto Holdings in Tax Forms

The government announced their plans for its ambitious project, Sango Project, by tokenizing their country’s natural resources, something which they have in abundance. Their President, Faustin-Archange Touadéra posted on Instagram a photo of a statement made on his official Twitter account earlier this week that details the plans for the project.

The statement that was also signed by other government officials, Minister of State and cabinet chief of staff Obed Namsio, said:

The next step for us, the Central African Republic is the democratization & tokenization of resources, a new chapter with tremendous possibilities.

This #vision & strategy will open unique #opportunities for #investors #worldwide. #CAR #RCA pic.twitter.com/v7mzlsUeTw

— Faustin-Archange Touadéra (@FA_Touadera) June 2, 2022

“We are giving everyone access to the riches of our land. In other words, we are transforming them into equally valuable and important digital assets through an unprecedented new administrative and economic movement.”

It also said that Touadéra asked the parliament to devise a new plan to make investment opportunities to aid improve the country’s economy. 

CAR became the second country to adopt Bitcoin (BTC) as a legal means of tender. The announced on their website that the World Bank approved a $35 million developmental fund for the Sango crypto hub in the country. This comes even though the World Bank has been quoted saying they would not support the plan.

The implementation of a system that tokenizes the countries natural resources is the key element of the Sango Project. It also aims to establish e-residency for investors, founding Sango, the country’s eventual metaverse, and crowdfunding infrastructure. The countries natural resources consist of copper, rhodium, limestone, manganese, cobalt, diamonds, gold, oil, and iron. All very valuable minerals across the world.

The potential of implementing Bitcoin as legal Tender in the country have been scrutinized due to the fact that only few of the residents of the country have access to internet or electricity, the fragility of the start and the low development of the country. 

Tags: AfricaCentral AfricametaverseTokenization
TweetShareShare

Recommended For You

Around The Block – MAR 24 Week in News

by BlockNews Team
March 24, 2023
0
Around the Block

Introduction In this recap of the crypto world, we will explore the events and news that had the most significant impact in the past week of March 20th....

Read more

Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption

by BlockNews Team
March 24, 2023
0
quicknode

QuickNode is leading the charge as Web3 is poised to revolutionize the world, but it needs its "WordPress moment" to accelerate positive disruption. Blockchain technology can upend manual-intensive...

Read more

UK to Mandate Declaration of Crypto Holdings in Tax Forms

by BlockNews Team
March 24, 2023
0
parliment

The government hopes to close regulatory gaps and stop illegal operations by enacting rules that address various parts of the industry. The requirement to disclose cryptocurrency holdings in...

Read more

The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

by BlockNews Team
March 24, 2023
0
The Fed Increases Interest Rates By 25 Basis Points- Impact On Crypto Prices

Crypto prices display rapid fluctuations as the U.S. Federal Reserve hikes interest rates by 0.25%. Investors remain upbeat about the medium-term outlook of Bitcoin and the wider crypto...

Read more

Telegram Enables USDT Stablecoin Payments on the Tron Network

by BlockNews Team
March 24, 2023
0
Telegram

Telegram integrates USDT-TRON (TRC20) into its platform, allowing users to send the stablecoin to their contacts seamlessly and without transaction fees. Telegram's venture into cryptocurrencies began with the...

Read more
Next Post
Japan Passes Bill Regulating Stablecoins, Only Allowing Institutions to Issue

Japan Passes Bill Regulating Stablecoins, Only Allowing Institutions to Issue

Related News

crypto market

Crypto Markets Lost $50B Following Wall Street Tuesday Crash: Market Watch

March 2, 2023
Vitalik Buterin

Ethereum Co-founder, Vitalik Buterin, Shares His Bullish Goals For 2023

January 5, 2023
BTC-Rocket

Bitcoin Price Displays Strength As Investors Await CPI Data And The Merge

September 14, 2022

Browse by Category

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized
BlockNews.com

BlockNews.com brings you the most important Crypto and NFT news in the space.

CATEGORIES

  • Breaking News
  • Business
  • Crypto
  • DeFi
  • Finance
  • Gaming
  • Guides
  • Investing
  • Media
  • Metaverse
  • NFT
  • Opinion
  • Politics
  • Social
  • Technology
  • Uncategorized

RECENT POSTS

  • Around The Block – MAR 24 Week in News March 24, 2023
  • Web3 Needs its ‘WordPress Moment’ to Speed up Positive Disruption March 24, 2023
  • UK to Mandate Declaration of Crypto Holdings in Tax Forms March 24, 2023

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

No Result
View All Result
  • Home
  • Crypto
  • NFT
  • Metaverse
  • DeFi
  • Business
  • Technology
  • Opinion
  • Guides

© 2022 BlockNews.com - Crypto and NFT news website by JRNY Club.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?