THE Central African Republic (CAR) is still backing its Sango Coin token, and in its latest move, it has formed a new task force to work out how to integrate the token into its economy.
CAR launched Sango in July 2022, just three months after it had passed a ‘Bitcoin Law’ that made BTC legal tender in the country. Since then, the government has been pushing the token, including through perks such as citizenship for foreigners (which was overturned), to boost its adoption.
The government is now looking to local experts to integrate Sango into the economy, reports say. In a statement last week, it revealed that the new task force will be tasked with drafting a low on the usage of Sango in the country. It will also work on guidelines for tokenisation in the country.
In pushing Sango, CAR President Faustin-Archange Touadéra is going down the same path as Venezuela’s Nicolás Maduro. Maduro launched and made all efforts to push the Petro token on the people, but despite his best efforts, the token was an epic fail, according to CoinGeek.
CAR’s Touadéra is hoping that he can avoid Maduro’s pitfalls by involving local experts. Reports say that the task force will have 15 members, selected from ministries including town planning, geology, and mining.
Part of Touadéra’s plan is to leverage Sango to tokenise the country’s resources. CAR is one of the world’s most mineral-rich countries but continues to rank as one of the poorest countries globally.
Initially, Touadéra was seen as a BTC maximalist after making BTC legal tender, following in the steps of his Salvadorian counterpart Nayib Bukele. However, just like in El Salvador, BTC has failed to take off in CAR, a country where internet access is limited to less than a quarter of the population.