Blockchain
Sango – The First National Digital Monetary System built by the Central African Republic powered by Blockchain
The world was taken by surprise when the President of CAR , Faustin-Archange Touadéra, made his announcement regarding the adoption of Bitcoin as legal tender on the 21th of April and then with the following implementation of the SANGO Coin (https://sango.org/ ) on the 3rd of July.
To view the Multimedia News Release, please click:
https://www.multivu.com/players/uk/9070251-sango-first-national-digital-monetary-system-built-by-central-african-republic/
In this regard, the Central African Republic, a country located in the heart of Africa, a region with untapped growth potential, is working on a new structure for its economy, paving the way to a digital future:
“There is already a vision for Africa: a common cryptocurrency and an integrated capital market that could stimulate commerce and sustain growth.” Faustin-Archange Touadéra, president of the Central African Republic.
The Central African Republic plans to raise a total of $1 Billion by issuing the first national digital currency, called SANGO. Once raised, the capital will be used to tokenize the country’s resources, offering worldwide investors the opportunity to contribute, benefit from it, and to build the entire digital infrastructure, based on Sango blockchain, a novel Layer-2 Bitcoin sidechain.
With more than $2.2 Trillion in Iron ore and a further $60 Billion in each individual resource of Gold, Oil, Diamonds and Lithium, CAR is leading the way to the democratisation of access to resources. Tokenization allows access to global capital in a democratic and transparent way, allowing investors of all sizes to buy fractionalized assets representing the country’s resources.
From the decentralisation and tokenization of its resources, to offering citizenship, e-residency and land through locking the newly issued coin, Sango will govern the whole economic ecosystem of the Central African Republic. It already appears that other African countries are showing significant interest in finding similar digital solutions.
The initiative has already gone mainstream as it is backed by the country’s administration and also applauded by big names in the industry and Africa. Changpeng Zhao (Binance), Michael Saylor (MicroStrategy), Ricardo Salinas Pliego (Salinas Group) and Reuben Abati (Nigerian Presidential Spokesperson) are among those that have shown their support on Twitter since the official announcement.
The official GENESIS PAPER { https://sango.org/genesis-paper.pdf } of Sango has been released together with the Concept Deck for a complete understanding of the technical complexity and benefits of the ambitious Central African project. SANGO, the first national digital currency is also the first currency to be fractionally backed by Bitcoin “digital gold”.
Starting from yesterday, the platform is also open for registrations and KYC. The official launch date of the SANGO GENESIS has been set to the 25th of July and it will mark the beginning of a new era for the Central African Republic and perhaps for the entire world.
This new economical approach sheds more light on the integration and potential participation of the entire world in a country’s development, with limitless investment possibilities for anyone in the crypto space and beyond it.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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