The Central African Republic is turning its national $CAR cryptocurrency, which was launched in early 2024, into a utility-backed token that supports digital land ownership and public-sector transparency.
Beginning June 21, global investors can use $CAR to purchase tokenised land concessions in Bossongo, west of Bangui, the capital city.
According to the government, this program, enabled by a presidential decree, makes 1,700 hectares — once agricultural plantations — available for concession via a blockchain platform, significantly reducing bureaucratic delays and ambiguity in land access while collecting a $20 yearly land charge up front.
It went on to add that prospective landholders can access concession pathways from anywhere in the globe using blockchain's immutable ledger, which includes secure paperwork and real-time certification.
This digital-first approach offers a transparent, streamlined alternative to traditional land administration systems, which are often encumbered by paperwork, legacy infrastructure, and administrative delays, said the government.
In addition, the government plans to expand the blockchain framework to include tokenisation of other real-world assets such as mineral rights — leveraging $CAR’s real world assets use case to attract foreign direct investment and drive sustainable economic growth.
“This marks a pivotal shift from symbolic experimentation to real-world impact. This project is about redefining how governments and citizens interact with resources,” added President Faustin‑Archange Touadéra in a statement. “Our goal is to eliminate red tape and build a transparent, accessible economy powered by blockchain and underpinned by citizen confidence.”
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