BoG’s eCedi will be a true blockchain based solution – Jason Marshall

Jason Marshall, the Chief Operating Officer of Yellow Card has lauded the Bank of Ghana (BoG) in its quest to introduce a digital currency, the eCedi.

He said the eCedi will be a good innovation that can offer true blockchain solutions to fintechs operating in Ghana.

Speaking to the media in Accra, Mr. Marshall said if electronic currency is implemented it has the potential of being a global leader in the fintech and banking sector.

“I think what's exciting is the Bank of Ghana's approach to a digital currency and that they're building a true Blockchain based solution.

What I think is most exciting is that they've built a foundation layer of a true Blockchain based solution, and they have set it up in a way that innovators in banking and fintech and elsewhere can build on top of that to build consumer applications that provide value.”

John Marshall also hinted that Yellow Card is open to take advantage of the eCedi if it’s launched to enhance their operations in Ghana.

“We've already started talking to our engineers and they are already looking at it. We're excited and we think it has the potential to be one of the leading CBD’s in the world.

It could be a global leader from what we've seen so far and you can tell that the Bank of Ghana has done a lot of deep research and thought they've partnered with some smart people.”

The Bank of Ghana rescheduled the launch of the digital currency in 2022 due to the economic volatility experienced that year.

Head of Fintech and Innovation at the Bank of Ghana, Kwame Oppong, said though the date for the launch has not been decided yet, the Bank of Ghana is working to build a robust digital currency that will serve as an enabler to promote digital-financial inclusion.

He spoke to Joy Business at the Africa Money and De-Fi Summit, where the Bank of Ghana launched a Hackathon to develop innovative solutions to specific situations in which the eCedi could potentially be used.

“Currently, the decision as to when to potentially introduce the eCedi is yet to be determined. It is important that first things are handled first. You don’t want to introduce a new variable in the current climate.”

“At the right time, I am sure the leadership of the Bank will make a decision and announce to the public”, he added.

Yellow Card is a cryptocurrency exchange that offers the safest way to buy and sell bitcoin in Ghana.

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