The bank of Ghana is looking into its own CBDC

• The first deputy governor of the bank of Ghana has remained committed to starting up a central-bank digital currency.
• Dr. Maxwell Opoku-Afari made the comment during a stakeholder workshop meeting online in regards to payment services and systems.

The first deputy governor of the bank of Ghana has remained committed to starting up a central-bank digital currency. Dr. Maxwell Opoku-Afari made the comment during a stakeholder workshop meeting online in regards to payment services and systems.

A financial tech and innovation office was established this spring by the central bank in order to further development in the local industry. Over recent years, it has been able to adapt its organisational structure in order to respond to the big changes going on in the payments world. On top of this, these approaches are encouraging electronic cash transactions but the deputy governor has made it clear that the bank has specific plans to pilot a central digital currency and remains on solid ground in regards to the topic.

The report from GhanaWeb was published earlier this week on the 8th of June and highlights that the bank of Ghana created a payment system department in 2016. Since then, they have encouraged a wide range of digital interbank payments in the nation.

Opoku-Afari has made it clear that the bank of Ghana has been consistent in demonstrating leadership and foresight. This was in creating “the enabling environment for competitive, innovative and inclusive development of the financial sector."

As central-bank digital currencies start to grow throughout the world, the world of cryptocurrency is changing. Who knows how the space will look in 5, 10, and 20 years' time?

Even now, the world is changing and technology is advancing every day.

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