Tokenization of land. The Central African Republic (RCA) was the first country in Africa to adopt Bitcoin as a legal currency in April 2022, with more or less success. Since then, the country has also launched its own same, the $ because, last February. And it is precisely the latter that will be used for the tokenization of 1,700 hectares of land in the country.
- The Central African Republic undertook the tokenization of 1,700 hectares of land thanks to the same $ because.
- This project is part of a national strategy aimed at integrating cryptocurrency into the country’s economic development.
The same $ because at the service of the country
The president of the Central African RepublicFaustin-Archange Touadéra, a announcement a new step in the adoption of the country’s national cryptocurrency, the $ Car. The latter will indeed be used for tokenization of 1,700 hectares of land.
These lands, located west of the village of Bossongo, about 45 km from the capital Banguiwill be accessible online via the blockchain Solana, from June. The president communicated information on social networks:
“From June, land concessions will be accessible online via the $ because, directly on Solana. A new era of access and transparency begins. »»
Faustin-Archange Touadéra, President of the Central African Republic-Source: X account
This decision is part of the wider strategy of the country to integrate the cryptocurrency in its national development. It also follows laws adopted in 2023 on the tokenization of natural resources, suggesting that these lands could be used for mining purposes.
The tokenization of current land
The launch of $ Car Last February had already marked a turning point for the Central African Republic and the President Touadéra had then presented the token as an experience aimed at uniting citizens and highlighting the country on the world scene. The success of this project is however largely questionable.
Indeed, despite an initial peak of market capitalization $ 884 million, the value of the $ because has dropped due to a lack of clarity on its usefulness. Currently, the token is up 21 % during the day, reaching $ 0.05, but remains down 92.7 % compared to its Historical summit.
There tokenization land comes as the previous project of the country, the Sango corneris ending. Launched in 2022, he aimed to become national digital currency, but met difficulties and triggered many controversies. In April, the team behind the project announced that it would not continue in its current form, although a restart is envisaged.
Despite the challenges encountered with Sango Coin, the Central African Republic seems determined to continue its adventure in cryptocurrency. The land tokenization via the $ because could offer a new opportunity for the country to take advantage of blockchain technologies, while strengthening its economy and attracting foreign investments. Finally a real utility for this same?