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Tag: CAR

  • President Touadéra unveils $CAR coin to boost Central African Republic’s global presence

    President Touadéra unveils $CAR coin to boost Central African Republic’s global presence

    President Faustin-Archange Touadéra of the Central African Republic (CAR) launched the $CAR meme coin on Monday, in a bid to enhance the nation’s global presence.

    This initiative comes nearly three years after CAR became the first African country and second worldwide, after El Salvador, to adopt Bitcoin as legal tender.

    Read also: Kenya ranked 21st globally in crypto usage as IMF pushes for regulatory framework

    $CAR: Embracing digital innovation

    President Touadéra stated on X: “Today, we are launching $CAR – an experiment designed to show how something as simple as a meme can unite people, support national development and put the Central African Republic on the world stage in a unique way.

    “As the second president in the world to adopt Bitcoin as legal tender, I have always recognised the potential of crypto and its benefits on a global scale.”

    The coin, built on the Solana blockchain, is represented by the colours of the country’s flag, blue, white, green and yellow.

    Despite CAR’s gold and diamond reserves wealth, it remains one of the world’s most impoverished and underdeveloped nations, facing persistent rebel violence and economic instability.

    President Touadéra intends to rebuild schools and equip them with learning resources. “$50,000 worth of tokens will be allocated over the next 30 days from country development to support these repairs.”

    The Central African nation became the second in the world after El Salvador to acknowledge Bitcoin as legal cash in 2022 and establish a legal framework to regulate cryptocurrencies, despite cautions from regional and financial bodies.

    Read also: TRUMP coin declines by 38% as Melania’s new coin hits $6bn on inauguration eve

    $CAR coin : controversy and skepticism

    The launch of $CAR has faced some scepticism and challenges. AI deepfake detectors questioned a video of President Touadéra announcing the meme coin.

    Deepware, a deepfake detection service, assessed an 82 per cent chance that the video was a deepfake.

    Yokai Ryujin, the founder of Unrevealed XYZ, raised doubts on X on February 10 about the CAR meme coin’s domain registration on Namecheap. He claimed the process did not resemble something a president or country would do and pointed out that the registration occurred only three days ago.

    In response, Namecheap announced in a follow-up X post that they had “suspended the abusive service.”

    However, the car meme coin website remained live at the time of reporting.

    Despite the concerns, a spokesperson for President Touadéra’s office confirmed the video’s authenticity, stating it was translated to English for an international audience.

    Touadéra himself affirmed the legitimacy of the $CAR launch, stating he was not hacked and the meme coin aims to create community and support the country’s development.

    The CAR memecoin launched on Pump.fun, a Solana-based memecoin platform, at 10:25 PM UTC. Since its debut, it has surged, reaching a peak valuation of $527 million, according to DexScreener.

    The $CAR token was trading at $0.22 on Monday morning, according to CoinGecko, and $0.03 today.

  • Car without rear window debuts in the UK

    Car without rear window debuts in the UK

    The automotive industry has always been a hotbed of innovation, constantly pushing the boundaries of design and functionality. One of the most recent breakthroughs that has left car enthusiasts buzzing with excitement is the introduction of the first car without a rear window on British roads. This groundbreaking development challenges traditional design norms and opens up new possibilities in the realm of automotive engineering.

    The Pioneer: Unveiling the Visionary Vehicle, 

    The Swedish-made polestar 4 car’s manufacturer, is owned by Volvo. The pioneering car making waves is the Eclipsar EV, a sleek and futuristic electric vehicle crafted by a forward-thinking automaker. 

    Breaking away from the conventional design, the Eclipsar EV bids farewell to the rear window, a feature that has been a staple in automobiles for decades. The vehicle’s exterior seamlessly blends aerodynamics and aesthetics, creating a unique silhouette that sets it apart from its counterparts.

    Read also: Uber Commences Electric Car Services

    Innovative Engineering: The How and Why

    Removing the rear window was no arbitrary decision but a result of meticulous engineering and design considerations. The Eclipsar EV employs advanced sensor technologies and camera systems to compensate for the absence of a traditional rear window. These cutting-edge features not only enhance safety but also contribute to the vehicle’s overall aerodynamic efficiency, boosting its range on a single charge. Polestar 4 has been out in China since December 2023 and there have been no discouraging words.

    Safety Redefined: Adapting to the Future

    Concerns about safety naturally arise when considering a car without a rear window. However, the Eclipsar EV has not compromised on safety; instead, it has redefined it. The integrated sensor and camera system provide a comprehensive view of the surroundings, eliminating blind spots and enhancing overall visibility. The vehicle’s onboard artificial intelligence continually analyzes data, providing real-time feedback to the driver and ensuring a safe driving experience.

    The Future of Design: Rethinking Aesthetics

    The Eclipsar EV challenges traditional notions of automotive aesthetics. The absence of a rear window allows for a radical redesign of the car’s exterior, creating a sleek and futuristic profile. The minimalist approach not only serves functional purposes but also reflects a shift towards a more avant-garde and environmentally conscious design philosophy.

    Environmental Impact: Driving Green

    As an electric vehicle, the Eclipsar EV contributes to the global effort to reduce carbon emissions and combat climate change. The innovative design not only serves as a testament to technological progress but also emphasizes the importance of sustainable transportation in the automotive industry.

    Challenges and Considerations: Navigating the Road Ahead

    While the Eclipsar EV represents a leap forward in automotive innovation, it also poses challenges and considerations. Questions about maintenance, repair costs, and public acceptance loom on the horizon. As these visionary vehicles make their way onto British roads, it remains to be seen how well they will be received by the general public and whether the infrastructure can support their unique features.

    A Glimpse into Tomorrow

    The introduction of the first car without a rear window in the UK marks a significant milestone in the evolution of automotive technology. The Eclipsar EV not only challenges conventional design norms but also paves the way for a more sustainable and futuristic driving experience. As these innovative vehicles become more prevalent on British roads, they offer a glimpse into a tomorrow where cars not only take us from point A to B but also redefine the way we think about transportation.

  • Panther: The car that runs on land and water

    Panther: The car that runs on land and water

    Watercar, an automobile company specialised in producing waterways which runs on land and water; launches the most versatile car ever—the H-1 Panther. 

    The H1-Panther is dubbed the most versatile vehicle that has ever been conceived of. This is WaterCar’s fifth generation of their amphibious vehicle, and it’s also their most advanced model to date. Designed to perform exceptionally well in the harshest environments, including the most demanding water conditions and the most rugged terrain.

    The H1-Panther challenges the limits of what is thought to be feasible. It is a genuine amphibious all-terrain utility vehicle that is capable of travelling at highway speeds and can maintain a cruising speed of 35 knots when operating on water.

    It is also created with inspiration from the HMMWV. The HMMWV, pronounced as the Humvee, is the most suitable foundation platform. It is capable of traversing deep water and navigating the hardest terrain thanks to its over 30 years of documented history of surviving the most challenging situations. The Humvee is a unique vehicle in comparison to others.

    The H1-Panther is the best of WaterCar’s production and it moves at a speed of 75 mph on land and 45 mph on water. It is worth about half a million dollars.

    Read also: Proforce Nigerian-Built Armoured Vehicles Make Waves

    Why H1-Panther was Created

    The Humvee serves as the foundation for the H1-Panther, which is built out of high-strength aluminium and is significantly more durable than fibreglass. In the past, amphibious vehicles that were propelled by jet engines would fail to function properly in water that included debris. 

    The newly designed model required a propulsion system that was strong enough to power it through the wreckage. It was an absolute requirement that it had four-wheel drive and sufficient ground clearance for off-roading, in addition to a vee in the hull that was sufficiently deep to handle choppy seas.

    It needed to have an optional top and complete doors, a decent heater, and air conditioning as an option. Additionally, it needed to be able to work in all conditions. It was required that the vehicle be able to fit inside of a container that was 20 feet in length so that it could be transported anywhere in the world. 

    All of this was a difficult request to fulfil, considering that the majority of amphibious vehicles typically end up being poor-driving cars and terribly performing boats due to the numerous engineering compromises that need to be made in order to construct a vehicle that is capable of driving on the water.

    Ford’s Promise of Electric Vehicles

    Challenges WaterCar crew faced during H1-Panther’s production

    The team has more than 20 years of experience, and despite all of their previous triumphs and setbacks, this particular project proved to be by far the most difficult one they have ever undertaken.

    The ultimate result demonstrates the WaterCar team’s level of expertise as well as their dogged determination. The four-wheel-drive H1-Panther can go at highway speeds on land and 35 knots on water, and it can make the transfer from land to water in less than 20 seconds.

    The chassis is made of high-strength aluminium and features an advanced design that allows it to function effectively in a variety of challenging environments. We make use of the most long-lasting and robust components that are accessible.

    Even though it has features such as a gigantic prop made of stainless steel that is able to run in the dirtiest water and low range 4×4 huge mud tyres, it is nevertheless able to be driven down the highway without any discomfort.

    The H1-Panther is a genuine amphibious utility vehicle that is capable of being utilised in the harshest of environments. The H1-Panther is head and shoulders above any other amphibious vehicle that has ever been constructed to this day.

  • Crypto is Essential for Financial Inclusion Says CAR President

    Crypto is Essential for Financial Inclusion Says CAR President

    President Faustin-Archange Touadera of the Central African Republic said on Sunday that cryptocurrency is the solution to tackling financial exclusion.

    Cryptocurrency is an alternative to cash,” Touadera said at the launch of her country’s crypto initiative Sango after it became the first African state to legalize Bitcoin in April. “For us, the formal economy is no longer an option.”

    The move to adopt cryptocurrencies in a country where internet use is low and electricity unreliable has raised eyebrows among crypto experts, puzzled lawmakers and residents, and drawn words of caution from the International Monetary Fund.

     

    Crypto In CAR : The Sango Project

    The Sango project, including a “Sango Coin”, was backed by the Central African Republic’s National Assembly and spearheaded by Touadera, who said the token would provide access to the country’s “mountain” of natural resources, including gold and diamonds.

    The country’s “Sango” initiative says that it will “facilitate the tokenization of Central African Republic’s resources for worldwide investors”. “Sango Coin will be the currency of the new generation of the Central African Republic,” Touadera said, without providing specifics.

    The Central African Republic’s enthusiasm for cryptocurrencies appears unaffected by recent losses in their values, with the bitcoin price falling over 58% in the past three months, according to Refinitiv.

     

    Key Observations

    By adopting Bitcoin as a legal currency, the Central African Republic (CAR) shocked the world. This small African nation was not expected to follow in the footsteps of El Salvador, which last year became the first country in the world to make Bitcoin a legal currency.

    But several factors may make the CAR a logical destination for Bitcoin adoption. The CAR has one of the lowest gross domestic products (GDPs) in the world. Its population, for the most part, is kept outside of the financial system and unwillingly shielded from technological developments like smartphones and the internet.

     

    Read Also : AFDB Approves Establishment of African Pharmaceutical Technology Foundation


    Intrigued by the conditions of the second country in the world to adopt bitcoin as formally-recognized money, a cohort of Bitcoin experts and enthusiasts, calling itself the Bitcoin Delegation, flew to the Central African Republic to understand more about the situation on the ground and to see how it could help enlighten CAR officials on ways to leverage Bitcoin for good.

    The delegation that traveled to the CAR includes Burley, El Bawab, Gouspillou, Oren, Busnel, Cadignan, and Wanzavalere.

    Burtey, CEO of Bitcoin banking software company Galoy, the developer of the Lightning wallet utilized by El Salvador’s Bitcoin Beach community, spoke with Bitcoin Magazine to share the findings of the group’s recent trip to the Central African Republic.

     

    Lack of Infrastructure

    “The first thing that is striking is that there is no infrastructure in the country,” Burtey said. “Meaning that there is barely electricity or internet in the country, even if you’re in the capital city.”

    As of 2009, less than 1% of the CAR population had access to banking services, according to a study by the International Monetary Fund (IMF). By 2017, account ownership at a financial institution or with a mobile-money-service provider was 13.75% of the population aged 15 years or more, per World Bank data. For comparison, the percentage of El Salvador’s population with access to the banking system was around 30% that year.

     

    World Bank data.

    Also according to the World Bank, the Central African Republic’s population has precarious access to electricity and internet. As of 2020, only 15% of the population had access to electrical power in the country and 10% used the internet.

    When it comes to mobile cellular subscriptions, only 38 in 100 people in the CAR had one as of 2020. Internet access is even worse when considering fixed broadband access the country sees only 0.01 per 100 people with a subscription to such a service.

    While some marginalized communities have been able to fight through adversity and leverage bitcoin for financial empowerment, nationwide adoption of the P2P currency depends on at least some minimal infrastructure.

    Notably, satellite-powered solutions such as Elon Musk’s Starlink could aid the CAR in increasing its internet access. Musk recently flew to Brazil to launch the service in the Amazon rainforest, a push to increase access to the internet connection in that rural and isolated area.

    Bitcoin Infrastructure Company Block stream also provides satellite-based solutions, specifically geared toward Bitcoin.

    Its Block stream Satellite broadcasts the Bitcoin blockchain around the world 24/7 for free, protecting against network interruptions and providing areas without reliable internet connections with the opportunity to use Bitcoin. However, receiver equipment costs could be a barrier for the CAR.


    Poor Understanding

    In addition to a lack of infrastructure in the country, there is also a deficit of proper understanding of Bitcoin.

    Government officials and the population at large don’t yet grasp the power of Bitcoin. It seems only the CAR president, Faustin-Archange Touadéra, really possesses knowledge about the peer-to-peer currency. These phenomena have led the nation to put the cart before the horse effectively.

    “My understanding is that the president is the one who decided to adopt Bitcoin,” Burtey told Bitcoin Magazine. “He has a PhD in mathematics with a focus on cryptography. But many other members of the government, pretty much everyone, don’t really understand the difference between ‘crypto’ and Bitcoin.”

    Much of the Bitcoin Delegation’s work was in improving that lack of basic understanding. Burtey explained to Bitcoin Magazine that in its conversations with government officials, the group attempted to demonstrate why the nation would be better off focusing on Bitcoin alone instead of embarking on the novel, esoteric use cases promised by tokens and “crypto.”