Central African Republic To Tokenize The Country’s Natural Resources
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CAR Wants to Tokenize its Natural Resources
In a tweet yesterday, Faustin-Archange Touadéra, the CAR’s president, shared a photograph of a statement revealing plans to tokenize the country’s natural resources. The latest move, which Touadéra called “the next chapter,” will open up their economy to the world to create investment opportunities in the country’s economy.
“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,” the statement read in parts.
The Central African Republic has deposits of oil, diamonds, copper, rhodium, gold, limestone, cobalt and manganese. The country’s natural resources also include gold, limestone, cobalt and manganese, among others.
The CAR, which in April became the second country in the world to adopt Bitcoin (BTC) as legal tender, introduced Project Sango last month. On the project’s website, it is claimed that the World Bank approved a $35 million development fund for a Sango crypto hub in the country, even though the World Bank has stated that it will not support the initiative.