Topic: Ghana government backing for CBDC (digital currency) bitcoin.com (Read 12 times)
Yes, the work efficiency of African banks is very low at present, and even a simple transfer will cost too much. The transfer speed between different banks is also very slow. You can work efficiently with digital currency.maybe it need more time,but it's a good thing.
The ghanian vice president, Mahamudu Bawumia, has implored African government's to start exploring digital currencies as such alternatives have the potential to enhance intra-African trade. In addition, such digital currencies allow African countries to carry out all across border payments smoothly, the leader explained.
According to a report, Bawmia made these comments while addressing guests at the opening of the Ghana international trade and finance conference (GITFIC) in Accra. The report also quotes Bawumia commending the ghanian central banks e-cedi project. He added that government will give it the support of the pilot phase take off it's central bank digital currency. However, final approval of the CBDC will depend on the outcome of the pilot phase.
He said that this system can also act as an alternative to the current high cost and long corresponding banking relationships by facilitating trade and other economic activities across the continent of Africa through a single, low-cost and risk controlled payment clearing and settlement system.
According to a report, Bawmia made these comments while addressing guests at the opening of the Ghana international trade and finance conference (GITFIC) in Accra. The report also quotes Bawumia commending the ghanian central banks e-cedi project. He added that government will give it the support of the pilot phase take off it's central bank digital currency. However, final approval of the CBDC will depend on the outcome of the pilot phase.
He said that this system can also act as an alternative to the current high cost and long corresponding banking relationships by facilitating trade and other economic activities across the continent of Africa through a single, low-cost and risk controlled payment clearing and settlement system.
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