Central African Republic to Tokenize National Land on Solana

President Faustin-Archange Touadéra of the Central African Republic has announced a plan to tokenize over 1,700 hectares of state-owned land using the Solana blockchain, with implementation set to begin in June 2025.

This event marks a significant shift towards digital resource management in the Central African Republic, sparking market fluctuations and boosting $CAR’s value.

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President Faustin-Archange Touadéra, a blockchain advocate, signed a decree to tokenize 1,700 hectares near Bossongo. The initiative, employing Solana’s blockchain, follows his 2022 Sango Coin endeavors. President Touadéra emphasized that this is a step toward digital sovereignty and better access.

“I have signed a presidential decree to tokenize over 1,700 hectares of land in the Central African Republic. Starting June, land concessions will be accessible online using $CAR, directly on Solana. A new era of access and transparency begins.”
– Faustin-Archange Touadéra, President, Central African Republic.

The $CAR token, tied to the new tokenization effort, saw its value jump by 127% in a week, hinting at anticipated benefits and heightened speculative activity among investors. Solana’s infrastructure will support the transactions.

The project is embedded in the country’s regulatory framework, referencing CAR’s mining code and recent reforms for land and resource tokenization, ensuring alignment with existing governance laws. This presents a potential shift in land management practices but raises concerns about long-term control.

Market analysts predict that successful implementation may position CAR as a pioneer in national-level blockchain projects. However, experts note that the uncertainty surrounding legal and market reactions must be managed carefully to ensure the project’s success. The previous Sango Coin project faced similar market excitement but stumbled due to regulatory hurdles, impacting investor confidence.