The Central African Republic (CAR) 210,000,000 coral coin sale will begin on July 25 and will require participating investors to purchase at least $500 worth of tokens. In return for purchasing and locking in the coral coins, investors will earn citizenship and a piece of real estate property, as well as a location in the metaverse.
First Digital Currency System
The Central African Republic (CAR), the only African country to designate bitcoin as legal tender, will begin selling coral coins for the equivalent of $0.10 on July 25. However, anotherreportstates that sales will begin on July 21.
Buyers of this crypto token, described as the country’s digital currency, will need to fork out a minimum of $500 to be paid in cryptocurrencies such as bitcoin or ethereum.
As shown on the Coralcoin websitecrypto enthusiasts interested in participating in the project will be offered a total of 210,000,000 tokens, the first to be “powered by the bitcoin blockchain” by CAR. Investors who participate in what it describes as a digital currency system will have the opportunity to become citizens of the African country.
“Join the digital transformation of the Central African Republic today. Both the first citizenship program in the local and metaverse: a future of endless possibilities awaits you,” a promotional message on the Coral website reads.
Purchasers of tokens will be rewarded with a piece of real estate property as well as a parcel in the metaverse; CAR will also grant e-residency status to coral coin investors who lock in their tokens.
Bitcoin National Treasury
The website’s roadmap detailing the country’s ambitious cryptocurrency plan suggests that CAR hopes to enhance Internet availability and accessibility by investing more in telecommunications infrastructure This suggests that the CAR wants to enhance Internet availability and accessibility by investing more in its telecommunications infrastructure. With improved Internet access, CAR will be able to move forward with the creation of a bitcoin treasury.
While critics, including bitcoiners, have questioned the launch of cryptocurrencies, the coral concept deck shows that CAR is not backing down. Rather, theconcept deckappears to suggest that CAR plans to make Sango coins an acceptable alternative form of payment.
Thus, besides using cryptocurrency to become a citizen of CAR, purchasers of Sango coins could use them to purchase land from the government, pay taxes, and access the country’s natural resources.
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