Gadgets Africa
  • News
    Microsoft introduces ads to Bing AI chatbot

    Microsoft introduces ads to Bing AI chatbot

    Executives at Meta Platforms Inc are discussing a company-wide ban on political advertising in Europe.

    Meta considers ban on political ads

    Twitter unveils prices for API access

    Twitter unveils prices for API access

    Microsoft raises Bing AI chat limit to 200 daily

    Microsoft raises Bing AI chat limit to 200 daily

    Instagram introduces bookmarking feature

    Instagram introduces bookmarking feature

    Hackers target UAE users with Spanish spyware - Google

    Hackers target UAE users with Spanish spyware – Google

    EFCC detains tech firm Kloud Commerce's founder Olumide Olusanya

    EFCC detains tech firm Kloud Commerce’s founder Olumide Olusanya

    Google to launch extreme heat alerts feature

    Google to launch extreme heat alerts feature

    Musk, experts call for pause on AI development

    Musk, experts call for pause on AI development

  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders
Gadgets Africa
No Result
View All Result

Central African Republic to launch crypto hub

by Agency Report
May 26, 2022
in Cryptocurrency
Reading Time: 2 mins read
How crypto assets regulation can increase govt revenue
Share on FacebookShare on TwitterShare on Telegram

The Central Africa Republic has announced via an official page that it will launch a crypto investment hub in the country.

According to the statement, the project has been officially dubbed ‘project sango.’

Giving his opinion on the new update, the president of CAR, Faustin-Archange Touadera, mentioned that the country no longer has an edge in the formal economy.

The latest update is coming off the back of a tweet where the president urged citizens of the country to sit tight for the next update related to Bitcoin, according to CrypoPolitan.

The official post, which can be found on Facebook, has an embedded link to the project’s official page. Residents who visited the page said anybody who signs up will be required to wait on the waitlist. A link where the complete onboarding of the project is done is also sent to users on the waitlist. In the document, the CAR government has plans to build one of the biggest crypto hubs inside Africa.

Asides from that, the country is also looking to float its much talked about island dubbed Sango. Also, there are plans to float a digital bank that will be accessible by all crypto-focused individuals, create its wallets and enable land purchases using digital assets such as Bitcoin. The country also has plans to provide resources to aid crypto firms in their activities while opening up the chance to become citizens to investors with a no-tax incentive.

This new plan is coming up less than one month after the country announced its official stance on using Bitcoin as a legal means of exchange. The move stamped the country in second place in the list of countries taking up the initiative. However, there have been calls by several top members of the international community over a drastic step taken by CAR. According to several analysts, the country is not yet ripe to install Bitcoin as a legal tender as it still has some issues it needs to thrash out in that regard.

CAR is one of the lowest-ranked countries in the development by the UN, with the country having about 11% of its citizens with access to electricity. Some citizens are also confused, with most of them unable to decipher how to use digital assets. There are also claims that lawmakers who planned to oppose the legal tender ruling absolved themselves from voting, so the grand success registered.

Tags: CARcryptocurrencies
ADVERTISEMENT

Related Posts

US judge rules on FTX founder's bail conditions Friday
Cryptocurrency

US judge rules on FTX founder’s bail conditions Friday

by Joy Onuorah
March 10, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Crypto shares slump after Silvergate crash

by Joy Onuorah
March 9, 2023
Crypto shares slump after Silvergate crash
Cryptocurrency

Illicit crypto transactions hit $20b in 2022

by Joy Onuorah
January 22, 2023
FTX's Bankman-Fried faces new indictment of bribing Chinese officials
Cryptocurrency

I didn’t steal FTX funds – Bankman-Fried

by Joy Onuorah
January 12, 2023
Next Post
Walmart to expand drone deliveries by year end

Walmart to expand drone deliveries by year end

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended.

Accenture lays off 19,000 workers

Accenture lays off 19,000 workers

March 23, 2023
US to go ahead with TikTok ban

US to go ahead with TikTok ban

March 26, 2023

Trending.

FTX's Bankman-Fried faces new indictment of bribing Chinese officials

FTX’s Bankman-Fried faces new indictment of bribing Chinese officials

March 28, 2023
FG seeking funding for science, technology -Minister

FG seeking funding for science, technology -Minister

March 16, 2022
Meta to build social network for text updates

Meta bends controversial ‘cross-check’ rule for VIPs

March 3, 2023
Elon Musk sets $8 monthly charge for verified Twitter accounts

Elon Musk sets $8 monthly charge for verified Twitter accounts

November 1, 2022
Russia will cut dependence on foreign tech – Putin

Russia will cut dependence on foreign tech – Putin

May 20, 2022
Gadgets Africa

© 2023 Gadgets Africa.

Navigate Site

  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

Share

No Result
View All Result
  • News
  • Apps
  • Cryptocurrency
  • featured
  • Telecommunications
  • Gadgets
  • FinTech
  • Tech leaders

© 2023 Gadgets Africa.

Go to mobile version