However, the initiative—originally framed as a state-backed crypto development project—has been engulfed in controversy tied to a memecoin, questionable governance, and alleged AI-generated content.

A Nation’s Blockchain Experiment Takes a Wild Turn

Launched in February via Pump.fun, the memecoin “CAR” was introduced as a symbol of unity and renewal, reportedly endorsed by President Faustin-Archange Touadéra through a promotional video. The coin aimed to channel viral meme culture into tangible economic transformation.

But the project’s credibility unraveled quickly. The promotional X (formerly Twitter) account was suspended within two days. Investigative crypto sleuths, including Coffeezilla, noted that over 76% of the token supply is concentrated in just four wallets, sparking centralization and manipulation concerns.

Adding to the chaos, several Persian-language media outlets raised red flags, suggesting the video featuring President Touadéra could have been AI-generated. Domain data also revealed the project website was hastily registered shortly before the token launch, raising further doubts about its legitimacy.

A Fog of Hype and Mistrust

Despite the land tokenization effort moving forward on Solana, no official legal documentation, public decree, or gazetted regulatory framework has accompanied the rollout. As it stands, the CAR’s latest crypto experiment is less a case study in national innovation and more a cautionary tale of hype-driven policy entangled with unverifiable digital narratives.

Whether this experiment leads to real development or collapses under the weight of memecoin speculation remains uncertain—but for now, the line between state initiative and viral internet stunt has never been blurrier.

The post Central African Republic’s Land Tokenization Plan Tangled in Memecoin Controversy and Deepfake Claims appeared first on Coindoo.

---

Filed under: Bitcoin - @ June 9, 2025 8:00 pm