Sango Bitcoin Sidechain is Coming to the Central African Republic: A Game Changer?

The Central African Republic (CAR) is doubling down on its crypto ambitions with the launch of the Sango Platform, slated for July 25th. CAR President Faustin-Archange Touadera took to Twitter on Tuesday to announce the upcoming launch of the country’s first major crypto initiative dubbed “Sango.” Through the Sango project, the Central African Republic wants to become the main hub for Bitcoin and cryptocurrencies in the region.

But what exactly is Sango? This isn’t the country’s first crypto-friendly move. Back in [earlier] times, Central African Republic [CAR] took a step ahead and announced the launch of its very own crypto, Sango Coin. The Sango Platform will be the hub of Central African Republic’s crypto initiative; It will include a bitcoin sidechain similar to the Liquid Network.

A key component of the Sango Platform is the Sango bitcoin (s-BTC) sidechain. Users who deposit BTC into the Sango sidechain will mint Sango bitcoin (s-BTC), a wrapped version of bitcoin. Users can trade s-BTC for SANGO, which is the currency of the platform. This allows for faster and potentially cheaper Bitcoin transactions within the CAR ecosystem.

The Sango Platform will be the hub of Central African Republic’s crypto innitiative; It will include a bitcoin sidechain similar to the Liquid Network. By creating a Bitcoin sidechain and offering its own coin, CAR is hoping to attract foreign investment and innovation in the crypto space.

Will the Sango Bitcoin sidechain succeed in transforming the Central African Republic into a crypto hub? Only time will tell, but the project represents a bold step towards embracing digital currencies and their potential benefits.