Ghana will be engaged in a digitization of national currency

Managing Bank of Ghana Ernest Addison stated that the republic studies the prospects for the production of a digital analogue of the national currency.

According to the economist, the Central Bank cooperates with key stakeholders in order to develop a Pilot CBDC project. Initially, the system will be launched in the «sandbox», and after the tests will be considered the possibility of emission of electronic seed.

The release of the digital currency will be engaged in the commercial bank Ghana, the largest private bank of the country. It will have to not only create electronic money, but also provide them with an equivalent amount of cash so that customers can get free access to mobile wallets.

Speaking at the National Banking Conference, Ernest Addison did not deepen into technical details, so the blockchain technology will not be applied. However, he said that the pilot project will be implemented within the framework of the National Program for the Financial Sector Distribution.

In conclusion, he added that the initiative was aimed at improving the stability of banking.

Ghana is no longer the first African country that plans to release its own digital currency. About similar plans in August also

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