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SANGO tokens appeared on the markets several months ago, but it has already attracted investors’ attention. The team behind the token has great goals, and its project serves an interesting purpose. Sango is actually a trade language. It belongs to the Niger-Congo family’s Adamawa-Eastern branch. In western Africa, people widely use this language. You will also hear it in the southern part of the Central African Republic, as well as the northern part of the Democratic Republic of Congo.
However, in central Africa, one region wasn’t included in the previous industrial revolutions. This territory is still behind with technological development, but the SANGO team aims to change that. It claims that thanks to its project, the Sub-Saharan region of Africa will make great progress by 2030.
While this region has a big potential, it needs funds to realize it. But obtaining those funds isn’t easy for local people. However, Sango will ensure that both individuals and companies have more leeway to achieve their goals and bring this country into the new technological era. The team plans to obtain the necessary funding needed for the region’s full development. But it also wants to do that in a transparent and secure way. Thankfully, blockchain offers both. That’s why the team decided to base its project on it.
There is another reason why the blockchain is preferable, though. Cryptocurrencies are already quite popular worldwide, with more and more people using them. And Africa isn’t an exception. Some people prefer using cryptos instead of fiat money on the continent. That’s partly due to the lack of banking and financial systems access. Cryptos are more easily transferable cross-border.
How will Sango raise funds for development?
The team created its native utility token SANGO to help raise funds. It also has many other benefits. The token holders will profit from participating in the project. The team launched the ICO sale on July 25, 2022. It will end on July 31, 2023. The total supply of the SANGO coins is 21,000,000,000, but only some percentage is available for purchase at this stage.
According to SANGO’s founders, this project is a Crypto Initiative. The Central African Republic National Assembly started it, while the Presidential Office supports it. The Republic wants to create adequate conditions to develop a new digital monetary system. Moreover, it aims to focus on future infrastructure development. However, the government needs to encourage the use of cryptocurrencies and blockchains to achieve that goal. Once finished, though, this project will change the African continent’s course, bringing many benefits.
As a Bitcoin Layer-2 solution, Sango will power a new digital monetary system. It will take the evolution of digital currency to new heights. This project stands out among the others because it has backing from the republic. Most countries issue strict regulations or outright forbid using cryptos in their territory due to their decentralized nature. But the Central African Republic encourages it and believes that the future belongs to Defi. Despite that, it’s important to do things legitimately.
The government stated that all monetary systems must respect the legitimacy of State laws, as well as its assets. The same is true for the decentralization and security that Bitcoin and blockchain technology provides.
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