Global Adoption Of Cryptocurrency – The First Cryptocurrency Backed By A Nation – CryptoBudha
Global Adoption Of Cryptocurrency – The First Cryptocurrency Backed By A Nation – CryptoBudha
Cryptocurrency adoption across the globe has been slower than expected, but there is no doubt that much has been done so far. It started with El Salvador’s adoption of bitcoin as legal tender, and it has spiraled from there. One thing that hasn’t been done yet is cryptocurrency being backed by a country. While other countries have passed the Central Bank Digital Currency (CBDC), the Central African Republic has introduced an innovative monetary system to the world. Sango Enter Image Sango is a Layer 2 solution built on top of the bitcoin blockchain. When they say Sango is bitcoin-supported, it does not mean that it is only made by BTC coins, but the whole system is built on top of the largest decentralized network in the world. The Sango sidechain is also supported by the Central African Republic, making it the first and only cryptocurrency ecosystem supported by a country. CAR, like other countries, has advanced to use digital assets as the world’s citizens move in that direction. Sango will power the new digital monetary system developed by the country by taking all the good bits of the bitcoin network and improving the network’s poor areas. This infrastructure is only possible using blockchain technology. By being a sidechain, Sango can bypass the network congestion that slows down the bitcoin network by spreading the load across other layers. This helps Sango increase scalability, offer more privacy, and increase programmability using smart contracts. This will allow users to make faster payments, as well as cross-border remittances. SANGO Coin is the currency of tomorrow Faustin-Archange Touadéra, President of the Central African Republic, has said that SANGO Coin will be “the currency of the next generation.” It is not surprising that the president has made a bold statement, given the capabilities and applications of Coin SANGO. SANGO Coin goes beyond just being used as a means of payment. Yes, it can be used to make fast and efficient transactions, but the utility of SANGO Coin exceeds anyone’s expectations. Backed by bitcoin, it already has a strong foundation in the cryptocurrency market. Investing in SANGO Coin also opens the door to the Central African Republic’s natural resources, which are currently worth more than $3 trillion. Individuals can also apply for citizenship through investment by purchasing SANGO Coin, as well as apply for e-residency for individuals and companies that want to exist as a digital entity in the country. Change the Game Throughout history, there have been times when something new overthrew the existing system. This could be a new way to invest or a new currency that goes beyond the existing ones. Sango actually provides both. Bitcoin has become a recognized and accepted store of value, so SANGO Coin also benefits from this establishment. Since Sango will be tokenized with bitcoin, users will also be able to transact with wrapped bitcoin (s-BTC) in the Sango ecosystem. The infrastructure that makes up the Sango ecosystem has been designed to meet the needs of government structures in a way that bitcoin was not built for. Therefore building on the bitcoin blockchain but creating a new digital currency is the best path for CAR. SANGO Coin’s utility has received accolades from prominent bitcoin evangelists such as MicroStrategy CEO Michael Saylor and Binance CEO Changing Zhao. Other African countries are now also looking into the CAR system in hopes of implementing something similar. SANGO coins are now available for sale website at a discount of $0.10 per coin.
