After the Bitcoin City in El Salvador, here is Sango, the Crypto Island of the Central African Republic. This is one of the many projects included in the development prospects offered by the adoption of a crypto-friendly “Bitcoin Law” in Central Africa. His government indeed wants to make the country a continental center of the cryptosphere.
“Project Sango” to accelerate the adoption of cryptos in Africa
A little over 7 months after El Salvador made Bitcoin (BTC) a legal tender, it was the Central African Republic that, in turn, passed a law making cryptocurrencies legal on April 21, 2022.
On May 24, Central African President Faustin-Archange Touadéra revealed on his Twitter account the first stone of the crypto-building that the country intends to build: the Sango project. This government initiative already has its presentation site at sango.org.
“Following the unanimous adoption by the National Assembly of the status of legal tender to Bitcoin, we are pleased to present the first concrete initiative. It goes beyond politics and administration, and has the potential to reshape the financial system of the Central African Republic. (…) “
The Central African Republic: soon to be the “bitcoin hub” of the African continent
In the presentation document of the Sango project, we can thus read that one of its first objectives is to:
“(…) directly build, in the heart of Africa, the first legal business center related to crypto-currencies, recognized by the Parliament of a country, which will host crypto-companies and attract crypto-enthusiasts from around the world.”
On top of that, we discover a pharaonic project of a futuristic crypto-city, in the same vein as the Bitcoin City presented by President Nayib Bukele in El Salvador. Here, it is a “Crypto Island”. As can be seen in the first visual below, and knowing that the Central African Republic is a landlocked country, it seems that the Crypto Island will be built along a river.
The case of the Central African Republic is not isolated, as emerging countries increasingly seem to want to organize their economic future, with the help of Bitcoin and cryptocurrencies. Last week, bankers and financial authorities from 44 developing countries discussed Bitcoin at an international summit on financial inclusion hosted by El Salvador.
