Ghana Set To Become The First Blockchain-Powered Government In Africa
Ghana is setting the stage to become Africa’s first blockchain-powered government in a move towards digital transparency.
The initiative, supported by Vice President Dr Mahamudu Bawumia, aims for a future where digital accountability could potentially save billions lost to corruption annually.
Blockchain for Enhanced Governance
During the 14th Regional Conference and Annual General Meeting of Heads of Anti-Corruption Agencies in Commonwealth Africa, held in Accra, Bawumia highlighted the potential of blockchain technology in governance.
Bawumia argued that Blockchain’s qualities—like immutability and transparency—make it an ideal candidate for enhancing governmental operations, particularly in corrupt regions.
This technology can securely log and track each transaction or modification in government records, creating an indelible audit trail.
Tackling Corruption and Economic Challenges
Ghana is currently navigating a severe debt crisis. It serves as a wall against the misuse of public funds, stabilizing the nation’s economy.
By digitizing processes and integrating blockchain, Ghana hopes to curb financial leaks and enhance the efficiency of government operations.
According to Business Insider Africa, Bawumia mentioned that by leveraging a unique identity card, the GhanaCard, the government could identify 44,707 ghost names on the National Service Scheme payroll, saving GH¢356 million (USD $25 million).
He also urged anti-corruption agencies across Africa to prioritize investment in digital forensics and tools to track tracing and disrupt the corruption value chain.
The journey towards becoming a blockchain-enabled government is aligned with Ghana’s broader digital strategy, which includes the potential introduction of a Central Bank Digital Currency (CBDC), the e-Cedi.
Image source: The Ghana Report
