In 2022, the Central African Republic surprised the whole world with a bold announcement: the creation of the digital token $CAR, backed by a project for economic transformation based on blockchain. Under the leadership of President Faustin-Archange Touadéra, this project aimed to be a symbol of technological independence, a new path towards modernization.
During its early days, the enthusiasm was real: significant capitalization, popular support, and a strong message across the continent. For once, innovation seemed to emerge from the heart of Africa.
But very quickly, the dream wavered. Dark areas appeared: ambiguity around the exact amount of tokens issued, lack of reliable platforms to exchange the token, and an opaque structure regarding the distribution of assets. The result: $CAR fell by 96% from its initial price.
This brutal setback reminds us of a truth: even projects driven by a noble vision are not enough without transparency, a clear strategy, and a solid ecosystem.
Today, as other African countries explore the path of digital currencies, $CAR becomes a case study. A warning, perhaps even a caution.