Vice President Dr. Mahamudu Bawumia has announced plans to implement blockchain technology for payments within the creative sector, a move to empower Ghanaian creatives and bolster the country’s burgeoning creative arts economy.
The Vice President made this announcement after his recent engagement with renowned actor Idris Elba and his team, focusing on strategies to foster the growth of Africa’s creative arts industry.
Central to these discussions was the imperative to enhance financial inclusion for Ghanaian creatives and facilitate their integration into the global financial landscape.
Through collaboration with Stellar $XLM blockchain technology, Ghana aims to revolutionize payment systems for creatives, ensuring they receive timely and secure payments for their work, regardless of their location in the world.
Leveraging the advanced digital payments infrastructure already established in Ghana, this initiative is poised to provide creatives with unprecedented access to financial resources and opportunities.
The adoption of blockchain technology promises to hold immense promise for Ghana’s creative sector, offering transparency, security, and efficiency in financial transactions. Ghana hopes to enable creatives to prosper in a more digitally and globally connected economy by adopting this cutting-edge strategy.
Speaking on the initiative, Vice President Bawumia emphasized the government’s commitment to leveraging technology to drive socio-economic development and empower Ghanaian citizens across various sectors. He highlighted blockchain as a transformative tool for promoting financial inclusion and fostering economic growth.
Idris Elba, renowned for his advocacy of African talent and culture, expressed his enthusiasm for the collaboration, emphasizing the importance of providing equitable access to financial resources for creatives worldwide.
The launch of the blockchain payment system later this year signals a significant milestone in Ghana’s efforts to position itself as a hub for creativity and innovation on the African continent.
With blockchain technology at the forefront, Ghanaian creatives can look forward to a future where their talents are recognized and rewarded on a global scale, propelling the country’s creative arts sector to new heights of success and prosperity.