Express
Ghana Seeks to Ensure E-Cedi Digital Currency Can Be Used Offline
Summary: The e-cedi, which the Bank of Ghana is set to pilot, seeks to facilitate transactions without the need for power or connectivity, according to Kwame Oppong, who heads fintech and innovation at the regulator. “Financial inclusion is limited by the availability of connectivity and power,” Oppong said at the Ghana Economic Forum Monday. “What we ...
The e-cedi, which the Bank of Ghana is set to pilot, seeks to facilitate transactions without the need for power or connectivity, according to Kwame Oppong, who heads fintech and innovation at the regulator. “Financial inclusion is limited by the availability of connectivity and power,” Oppong said at the Ghana Economic Forum Monday. “What we hope to be able to do - and we’re one of the people pioneering this - is that the e-cedi would also be capable of being used in an offline environment through some smart cards.”
Globally, more central banks are testing digital forms of their legal tender, allowing for faster and cheaper money transfers across borders, without losing control over their monetary systems.
By Amy Liu
Tags: Digital Currency,E-Cedi,Ghana
Link: Ghana Seeks to Ensure E-Cedi Digital Currency Can Be Used Offline [Copy]
