"The solution is bitcoin and cryptocurrencies."
Wow, this was just stated by the president of Central African Republic (CAR) presenting how to build his country to become a leader in opportunity and development.
#SANGO #CAR #crypto #bitcoin #sangocoin
Sango.org/event
He went on to cite problems such as bureaucracy, corruption, and bank access that crypto and bitcoin can help solve.
This is a head of state championing crypto as "the solution". Many in the West downplay its significance. Prominent critics are calling to even outlaw these technologies. The potential benefit of them, though, are best seen outside the comforts of the developed world.
Apparently, CAR is going to release or create a network called SANGO with its #SangoCoin. This is now introduced by other developers of the project, who also mentioned a metaverse.
"We want to make CAR the crypto hub of Africa."
He goes on to compare themselves to how Dubai developed itself as a hub built on oil.
He mentions building a metaverse, people being able to own virtual real-estate, and tokens backed by real world assets from CAR.
"We want to foster growth for whole region."
New speaker presents about history of humanity, tech, and improved lives--specifically when it comes to supply chains (that blockchain can improve).
#SANGO
Now he discusses advancements in finance through DeFi, governing via a DAO into a metaverse, and influencing behavior.
"When we look at these new building blocks, we can look into how we can incentive behavior--such as a Fitbit."
"With smart contracts, we can program we are not paying [for gas) per liter but per use."
Tracking carbon use and energy provisions. "With blockchain, we can create smart grids."
"A real paradigm shift."
Next is CAR's Minister of Finance.
"Africa is the future."
But now, CAR struggles to provide basic needs, he says.
"How are we going to fund all this infrastructure?"
What's the solution to this?
"Sango," he said.
A crypto-based system will enable more private investment and development.
I believe he stated Sango is backed by Bitcoin, but it wasn't clear.
He spoke briefly and left the stage.
Now is the minister of natural resources.
He's discussing the mineral wealth of the country. Cobalt, oil, etc.
(Hard to get updates here. Streaming is pausing.)
#SANGO #sangocoin
Next is minister of strategic investments.
They are laying out the case for investing in CAR--and how Sango crypto-based economic system can assist in this initiative.
Wow, next he pitches the idea of a "crypto island" along a large river. A "paradise" where they invite entrepreneurs to build, and where crypto activity is tax-free.
He said they'll create that economic regulatory framework.
#SANGO
Next, another minister introduces an ambitious plan of "digitalization" by 2025.
One step is the "digital transformation of public administration" including the postal service.
#blockchain #bitcoin #crypto #SANGO #sangocoin #car #africa
Next, we have blockchain expert from #WEF speaking about lack of trust today, polarized societies, and difficulties of governments to provide.
But blockchain is a "trust machine" that can offer a solution.
#SANGO #centralafricanrepublic
He mentions all the unbanked and the success of bringing crypto to the Philippines via a phone app.
Interesting to hear an establishment person making the case for "outside the system" solutions via blockchain and crypto.
He discusses more benefits of this tech: Identity and tokenization of assets, making ownership of assets easier.
And digitization of records (such as land rights).
#SANGO
Event ends with pre-recorded message from the president.
Event link broken. Now they just have this countdown: sango.org
Here's the presentation now posted on YouTube:
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.